November 2013 Highlights:
·
Market
Analysis by Area for November: Gross volume is
still strong in 2013 with $80,099,800 in sales and
transactions at 170, not bad for November in Summit County ! The
average transaction price for all 18 reported areas was $472,247,
average residential price was $454,839 and the median residential
price was $384,000. The average residential PPSF was $290.
·
Year to Date
by Area (11 months): There
have been 1776 real estate transactions to date, and $819,172,600 gross
volume. The average transaction price YTD: $466,442- Average residential price
YTD: $489,668-Median residential price YTD: $380,000- Average residential
PPSF $300.
·
Market
Snapshot YTD (11 months) for 2013: Prices continue to hold with average single
family at a 2% decrease ($748,476 YTD November from
full year 2012 $764,455) and multi-family at a decrease of
2% YTD ( $343,215 in November YTD from full year $353,339).
Vacant land continues to increase with at 6% ($329,350
YTD November from $309,512 full year 2012). If you view the median
prices on the chart below on page 4 of the Analysis- you will see that the
trends vary with single family at down by 2%, multi- family was actually down
5% and vacant land down 9%.
·
Market
Analysis % Change showing years 2004-2012: November monetary volume ($80,099,800) was up
20% from November 2012. Transactions are also up by 10%
from November 2012. Overall, for the past 11 months of
2013, Summit
County is still
pacing ahead by 19% monetary ($819,172,600) and ahead 23% with transactions (1,776). November
2013 is the most positive November that we have experienced since 2007 with
both monetary and number of transactions.
·
Residential
Market Sales by Price Point: Residential volume in November had 137
transactions with $62,313,000 gross volume. There were 7
properties that sold for $1M and above in November. The most active
price points in November were once again between $200K
-$300K. November had 49 single family, 88 multi-family and
6 vacant land transactions.
·
2013 Average
Price History: Average
residential pricing is holding strong for all three sectors- single family is
$748,476 YTD, multi- family is $343,215 YTD and vacant
land is $329,350 YTD.
·
Historical
Cost Breakdown 2013 ( 11 months): There were 1450 residential transactions so
far in 2013 and $710,018,300 gross volume with 111 properties $1M and
over. YTD 2012, there were 1162 transactions and $595,971,800 gross
volume, 94 properties at $1M and over and YTD 2011, there
were 1061 transactions with $543,578,200 gross
volume, 93 properties at $1M and over.
·
Top
Lender Graph: There
were 556 loans in November 69% (117) loans were related to sales and
31% of the sales were cash at closing. There were 113 REFI's and 326 loans
related to Timeshares.
·
Market
Highlights: Please
see page 10 of the Market Analysis- this also shows the bank sales
(2) from November 2013.
·
Bank
Sales and Foreclosures: There
were a total of 10 Foreclosure actions in November, compared to 31 in November
2012. Half of the 10 this November were Timeshare related. There have been a
total of 212 Foreclosure actions this year with only 89 making it all the way
to PTD.
·
Land Title
Purchaser Highlights ( Page 15): There were 10 higher end sales in November- you can see
the details on this report. A majority of our second homeowners for real estate
transactions continue to be the Front Range
demographic at 40% of our market, only 26% are local and 33% are
out of state buyers YTD.
As always, please feel free to contact me anytime with questions. I look forward to hearing from you!
All the best,
"Your Guide to Summit County Real Estate."
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
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