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.
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
"Your Guide to Summit County Real Estate."
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
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