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!
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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