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.
July 2014 Highlights
Market Analysis by Area for July: July was another positive
real estate month in the high country!
There were 195 transactions with $90,735,125 in gross monetary volume.
The average transaction price for all 18 reported areas at $465,308, average
residential price was $501,084 and the median residential price was $394,000.
The average residential PPSF was $310.
YTD Transaction Summary: There have been a total of 938
transactions with $457,191,881 monetary volume, the average transaction price
for all 18 reported areas is $487,319. The average residential price is
$508,448. The median residential price is $404,000. The average PPSF is $315.
Market Snapshot for YTD 2014 vs. 2013: Values are as follows: Average Indicators for
$: Single Family +6%, Multi- Family +5% and Vacant Land +15%. Median indicators
for $: Single Family +7%, Multi-Family
+7% and Vacant Land +51%. These
indicators translate that the prices are still fairly stable to last year,
increasing slightly.
Market Analysis % Change showing years 2004-2014 YTD: July monetary volume ($90,735,125) is up 32%
from July 2013, transaction volume (195) is up 26% from July 2013. 2014 YTD (7 months) monetary volume is up 10%
from YTD 2013. YTD 2014 transaction volume is finally up by 4% from YTD
2013. Inventory continues to be low in
Summit County compared to years past.
Residential Market Sales by Price Point: Residential volume
in July had 158 transactions with $79,171,325 gross volume. There were 12 properties that sold for $1M and
above in July. The most active price
point in July was higher than our previous few months at $300K to $400K. The price point of $500K to $600K was high
again with 22 transactions in that price range. There were 55 Single family,
103 Multi-family and 14 Vacant land transactions in July.
2014 Average Price History: Average residential pricing
continues to be highly consistent as of July - Single family is $799,222,
Multi- family is at $362,783 and Vacant land is $372,880.
Historical Cost Breakdown YTD 2014: There have been 782
residential transactions YTD 2014 and $397,606,681 gross volume with 65
properties $1M - Compared to 2013 YTD, there were 722 transactions and
$364,440,500 gross volume, 60 properties at $1M and over and in 2012 YTD, there
were 589 transactions with $304,658,925 gross volume, 45 properties at $1M and
over.
Top Lender Graph: There were 567 loans in July, with 58% of
the purchasers obtaining financing at the time of sale. 42% of the real estate
closings were cash transactions. There
were 107 Refinances.
Foreclosures: Bank
sales and Foreclosure actions are increasingly down again. It's a good trend to
see in Summit County! There were only 13 actions in July compared to 27 in July
2013. There have only been 102 actions YTD 2014.
Land Title Purchaser Highlights: In July, the majority of our buyers for real
estate transactions continue to be the Front Range demographic at 38% of our
market, only 28% are local and 32% are out of state buyers.
The full report can be viewed here:
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)
