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.
August 2014 Highlights
· Market Analysis by Area for August: August experienced a downturn from last
August 2013 in Summit County. There were
203 transactions with $88,825,100 in gross monetary volume. The average
transaction price for all 18 reported areas at $439,258, average residential
price was $474,525 and the median residential price was $400,000. The average
residential PPSF was $300.
· YTD Transaction Summary: There have
been a total of 1141 transactions with $546,016,981 monetary volume, the
average transaction price for all 18 reported areas is $478,735. The average
residential price is $502,361. The median residential price is $402,000. The
average PPSF is $312.
· Market Snapshot for YTD 2014 vs. 2013: Values are as follows: Average Indicators for
$: Single Family +3%, Multi- Family +5% and Vacant Land +10%. Median indicators
for $: Single Family +5%, Multi- Family +7% and Vacant Land +35%. These indicators translate that the prices
are still fairly stable to last year, increasing slightly.
· Market Analysis % Change showing years
2004-2014 YTD: August monetary
volume ($88,825,100) is down 16% from August 2013, transaction volume (203) is
down 6% from August 2013. 2014 YTD (8
months) monetary volume is up 5% from YTD 2013. YTD 2014 transaction volume is
up by 2% from YTD 2013.
· Residential Market Sales by Price Point: Residential
volume in August had 171 transactions with $81,143,800 gross volume. There were 7 properties that sold for $1M and
above in August. The most active price
point in August was between the ranges of $300K to $400K, with $400K- $500K in
second place. There were 66 Single
family, 105 Multi-family and 8 Vacant land transactions in August.
· 2014 Average Price History: Average
residential pricing continues to be consistent as of August - Single family is
$770,746, Multi- family is at $362,167 and Vacant land is $357,345.
· Historical Cost Breakdown YTD 2014:
There have been 953 residential transactions YTD 2014 and $478,750,481 gross volume with 72
properties selling for a $1M and over-
Compared to 2013 YTD, there were
903 transactions and $453,587,400 gross volume, 76 properties at $1M and over
and in 2012 YTD, there were 718
transactions with $365,677,000 gross volume, 56 properties at $1M and over.
· Top Lender Graph: There were 510 loans
in August, with 64% of the purchasers obtaining financing at the time of sale.
36% of the real estate closings were cash transactions. There were 121 Refinances. 260 loans were
related to Timeshare Sales.
· Market Highlights: Please see page 10
of the Market Analysis-View the higher priced purchases in August with again no
bank sales.
· Foreclosures: Foreclosure actions was flat with 11 in
August 2014 compared to 12 in August 2013. There have been a total of 113
Foreclosure actions YTD 2014.
· Land
Title Purchaser Highlights (Page 15):
There were 7 higher end sales in August to note- you can see the details
on this report. In August, the majority
of our buyers for real estate transactions continue to be the Front Range
demographic at 42% of our market, only 32% are local and 26% are out of state
buyers.
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)