January 2014
Highlights:
·
Market
Analysis by Area for January: The first month of 2014 was decent and very
comparable to January 2013 with $52,155,100 in gross sales and 102
transactions. The average transaction price for all 18 reported areas
at $514,524, average residential price was $469,741 and
the median residential price was $380,000. The average residential
PPSF was $302. Frisco had a very high end commercial sale ( Best Western)
that closed in January.
·
Market
Snapshot for 2014 vs. 2013: Values are as follows: Single Family -2%, Multi- Family +1% and
Vacant Land -15% for the Average, and Median indicators: Single Family +17%,
Multi- Family -8% and Vacant Land +35%. We are only comparing
one month to the full year of 2013 at this time.
·
Market
Analysis % Change showing years 2004-2014 YTD: January monetary volume ($52,155,100) was
down 2% from January 2013. Transactions (102) were down 6%
from January 2013.
·
Residential
Market Sales by Price Point: Residential volume in January had 83 transactions with
$38,988,500 gross volume. There were 7 properties that sold for
$1M and above in January. The most active price points in January
continue to be between $200K -$300K. January had 26 Single
family, 57 Multi-family and 7 vacant land transactions.
·
2014 Average
Price History: Average
residential pricing continues to be consistent as of January - Single
family is $736,719, Multi- family is $347,961 and Vacant
Land is $276,643.
·
Historical
Cost Breakdown YTD 2014 : Again-there were 83 residential transactions YTD
2014 and $38,988,500 gross volume with 7 properties $1M - Compared
to 2013, there were 89 transactions and $48,299,200 gross
volume, 10 properties at $1M and over and in 2012, there
were 79 transactions with $37,827,700 gross volume, 7 properties
at $1M and over.
·
Top
Lender Graph: There
were 627 loans in January, 48% (49) loans were related to sales and 52% of the
sales were cash at closing. There were 105 REFI's and 473 loans related to
Timeshares.
·
Market
Highlights: Please see page
10 of the Market Analysis-View the higher priced purchases in January and
bank sales (3) from January 2014.
·
Bank
Sales and Foreclosures: There were a total of 23 Foreclosure actions in
January 2014, which is the exact number as last January 2013. 13 of
January's actions were Timeshares and 10 were Fee Simple properties.
·
Land
Title Purchaser Highlights ( Page 15): There were 9 higher end sales in January- you
can see the details on this report, including the Best Western sale in Frisco.
In January, the majority of our second homeowners for real estate
transactions continue to be the Front Range demographic at 48% of our
market, only 22% are local and 30% are out of state buyers YTD.
As always, please feel free to call or email me anytime with questions. I look forward to hearing from you!
All the best,
Tyler MacGuire
Broker Associate
Omni Real Estate Company
Office: 970-468-2740
Mobile: 970-409-7779
"Your Guide to Summit County Real Estate."
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
No comments:
Post a Comment