The following data is provided as a courtesy of Land
Title. Please note that Land Title data
comes from actual recorded transactions
at the County Clerk and Recorder’s Office for that particular month. The
information is not directly related
to MLS data. The data is an unofficial tabulation of Summit County Records that
are believed to be reasonably accurate.
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March 2014 Highlights:
·
Market Analysis by Area for March: March was a good month-There were
119 transactions with $60,774,200 in gross monetary volume. The average transaction
price for all 18 reported areas at $517,467, average residential
price was $531,078 and the median residential price was $417,500.
The average residential PPSF was $335. Averages continue to increase each
month in 2014.
·
YTD Transaction Summary: There have been a total
of 304 transactions with $153,333,500 monetary volume, the average
transaction price for all 18 reported areas is $508,799, the
average residential price is $508,349, the median residential price is
$400,750, the average PPSF is $319 YTD. We are showing price
stabilization across the board in Summit County this year.
·
Market Snapshot for 2014 vs. 2013:
Values
are as follows: Average Indicators- Single Family +12%, Multi-
Family +7% and Vacant Land 28%. Median indicators: Single
Family +11%, Multi- Family +4% and Vacant Land +55%. These indicators
translate into escalating pricing in Summit County for 2014.
·
Market Analysis % Change showing years
2004-2014 YTD: March monetary volume
($60,774,200) is up 30% from March 2013,
transaction volume is +1% up from March 2013. 2014 YTD (3
months) monetary volume is up 9% from YTD 2013. YTD 2014 transaction
volume is down -4% down from YTD 2013. March numbers indicate the
best increases since March 2008.
·
Residential Market Sales by Price Point: Residential volume in
March had 104 transactions with $55,232,100 gross
volume. There were 9 properties that sold for $1M and
above in March. The most active price point in
March changed for the first time in quite a while- between $400K
-$500K. March had 27 Single family, 77 Multi-family and
7 vacant land transactions.
·
2014 Average Price History: Average residential
pricing continues to be highly consistent as of March - Single
family increased to $844,781, Multi- family is $370,038 and vacant
land is $414,465.
·
Historical Cost Breakdown YTD 2014: There have been
254 residential transactions YTD 2014 and $129,120,700 gross
volume with 20 properties $1M - Compared to 2013 YTD, there were
239 transactions and $116,142,700 gross volume,
16 properties at $1M and over and in 2012 YTD, there were
205 transactions with $109,278,500 gross volume, 19 properties
at $1M and over.
·
Top Lender Graph: There were 411 loans
in March, 51% (61) loans were related to sales and 49% of the sales were cash
at closing. There were 91 REFI's and 259 loans related to
Timeshares.
·
Market Highlights: Please see page 10
of the Market Analysis-View the higher priced purchases in March and
no bank sales in March 2014.
·
Bank Sales and Foreclosures: Foreclosures continue to
decrease with 8 actions filed, with 7 of those Fee Simple.
·
Land Title Purchaser Highlights (Page 15): There were 9 higher
end sales in March to note- you can see the details on this report.
In March, the majority of our second homeowners for real
estate transactions continue to be the Front Range demographic at 50% of our
market, only 17% are local and 33% are out of state buyers.
As always, please feel free to contact 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
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"Your Guide to Summit County Real Estate."
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
