Summit County Real Estate: July 2014

Tuesday, July 29, 2014

June 2014 Market Analysis

The following information 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.

June 2014 Highlights:

Market Analysis by Area for June: June was the second best month of 2014! There were 148 transactions with $62,036,850 in gross monetary volume. The average transaction price for all 18 reported areas at $414,814, average residential price was $436,991 and the median residential price was $415,000. The average residential PPSF was $295.

YTD Transaction Summary: There have been a total of 743 transactions with $366,456,756 monetary volume, the average transaction price for all 18 reported areas is $493,166. The average residential price is $510,313. The median residential price is $405,000. The average PPSF is $316. Breckenridge (between Blue River and Farmer's Corner) holds 48% of the $ volume in Summit County.

Market Snapshot for YTD 2014 vs. 2013: Values are as follows: Average Indicators for $: Single Family +8%, Multi- Family +6% and Vacant Land +10%. Median indicators for $: Single Family +7%, Multi- Family +5% and Vacant Land +49%. These indicators translate into the stabilizing pricing in Summit County for 2014.

Market Analysis % Change showing years 2004-2014 YTD: June monetary volume ($62,036,850) is up 1% from June 2013, transaction volume (148) is up 6% from June 2013. 2014 YTD (6 months) monetary volume is still up 6% from YTD 2013. YTD 2014 transaction volume is still down by only -1% down from YTD 2013. Inventory continues to be low in Summit County compared to years past.

Residential Market Sales by Price Point: Residential volume in June had 119 transactions with $52,001,950 gross volume. There were only 6 properties that sold for $1M and above in June. The most active price point in June hovered between $200K and $300K. However, the price point of $500K to $600K was much higher than months past with 24 transactions in that price range. There were 40 Single family, 79 Multi-family and 14 vacant land transactions in June.

2014 Average Price History: Average residential pricing continues to be highly consistent as of June - Single family is $808,086, Multi- family is at $363,564 and vacant land is $357,573.

Historical Cost Breakdown YTD 2014 : There have been 624 residential transactions YTD 2014 and $318,435,356 gross volume with 53 properties $1M - Compared to 2013 YTD, there were 601 transactions and $304,101,400 gross volume, 51 properties at $1M and over and in 2012 YTD, there were 490 transactions with $252,960,700 gross volume, 37 properties at $1M and over.
Top Lender Graph: There were 326 loans in June, 87 loans were related to sales at 59% of the 148 sales transactions and 41% of the sales were cash at closing. There were 117 REFI's and 122 loans related to Timeshares.

Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in June with no bank sales.

Foreclosures: There were 17 Foreclosure actions in June 2014 (mainly from timeshares) compared to 20 in June 2013.

Land Title Purchaser Highlights (Page 15): There were 6 higher end sales in June to note- you can see the details on this report. In June, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 42% of our market, only 23% are local and 34% are out of state buyers.

To view the full report please click here.

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

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

"Your Guide to Summit County Real Estate."

Certified Negotiation Expert (CNE)

Short Sale and Foreclosure Representative (SFR)

Thursday, July 10, 2014

May 2014 Market Analysis

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.

May 2014 Highlights:

Market Analysis by Area for May: May was the perfect kick off to strong summer selling season, with much more positive real estate numbers in Summit County. There were 174 transactions with $91,569.106 in gross monetary volume. The average transaction price for all 18 reported areas at $521,390, average residential price was $543,646 and the median residential price was $402,500. The average residential PPSF was $320.
YTD Transaction Summary: There have been a total of 595 transactions with $304,419,906 monetary volume, the average transaction price for all 18 reported areas is $512,455 the average residential price is $527,591, the median residential price is $403,000, the average PPSF is $321.
Market Snapshot for YTD 2014 vs. 2013: Values are as follows: Average Indicators- Single Family +13%, Multi- Family +7% and Vacant Land +16%. Median indicators: Single Family +12%, Multi- Family +7% and Vacant Land +49%. These indicators translate into stabilizing pricing in Summit County for 2014.
Market Analysis % Change showing years 2004-2014 YTD: May monetary volume ($91,569,106) is up 13% from May 2013, transaction volume (174) is up 10% from May 2013. 2014 YTD (5 months) monetary volume is up 6% from YTD 2013. YTD 2014 transaction volume is still down by only -2% down from YTD 2013. Inventory is low in Summit County compared to years past, you can see that YTD pricing is stronger with less transactions.
Residential Market Sales by Price Point: Residential volume in May had 152 transactions with $82,634,206 gross volume. There were 17 properties that sold for $1M and above in May. The most active price point in May hovered between $200K and $400K. There were 58 Single family, 94 Multi-family and 7 vacant land transactions in May.
2014 Average Price History: Average residential pricing continues to be highly consistent as of May - Single family increased to $851,387, Multi- family is slightly down at $369,036 and vacant land is $376,803.
Historical Cost Breakdown YTD 2014 : There have been 505 residential transactions YTD 2014 and $266,433,406 gross volume with 48 properties $1M - Compared to 2013 YTD, there were 491 transactions and $250,304,400 gross volume, 38 properties at $1M and over and in 2012 YTD, there were 405 transactions with $205,416,600 gross volume, 30 properties at $1M and over.
Top Lender Graph: There were 428 loans in May, 61% (106) loans were related to sales and 39% (down from the past month) of the sales were cash at closing. There were 111 REFI's and 211 loans related to Timeshares.
Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in May and only one bank sale.
Foreclosures: Foreclosures actions were up in May (mainly from timeshares) with 22 compared to 24 last May. There are a total of 72 Foreclosure actions YTD, with 50% of those for timeshares.
Land Title Purchaser Highlights (Page 15): There were 18 higher end sales in May to note- you can see the details on this report. In May, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 44% of our market, only 24% are local and 31% are out of state buyers.

To view the full report please click here: http://www.ltgc.com/files/breckenridge-marketstats/SUMMITMAY2014.pdf

As always, please feel free to contact me anytime with questions, I look forward to hearing from you!