|
||
|
October 2014 Highlights:
·
Market Analysis by Area for October: October continued
the fall 2014 upswing with market activity for Summit County
real estate. Upper end activity remains strong which contributes increase
in gross volume. There were 252 transactions with $117,477,100 in
gross monetary volume. The average transaction price for all 18
reported areas is at $467,379, average residential price- $481,281
and the median residential price -$369,000. The average residential PPSF
is $318.The Keystone market continues to improve with 38 transactions and the
Frisco market was also busy in October with 26 transactions.
·
YTD Transaction Summary: There have been a
total of 1665 transactions with $789,819,081 monetary volume, the
average transaction price for all 18 reported areas is $475,355. The
average residential price is $499,775. The median residential price is
$400,000. The average PPSF is $313.
·
Market Snapshot for YTD 2014 vs. 2013: Values remain steady and are as follows: Average
Indicators for $: Single Family +4%, Multi- Family +4% and
Vacant Land +2%. Median Indicators for Single
Family +5%, Multi- Family +7% and Vacant Land +17.
·
Market Analysis % Change showing years 2004-2014 YTD: October monetary volume ($117,477,100) is up 6% from
October 2013, transaction volume (252) is up 5% from
October 2013. 2014 YTD (10 months) monetary volume is up
7% from YTD 2013. YTD 2014 transaction volume is up by 4% from YTD
2013. Monetary volume is the highest YTD since 2008 and transaction
volume is the highest YTD since 2007!
·
Residential Market Sales by Price Point: Residential volume in October had 217
transactions with $104,437,900 gross volume. There were 15
properties that sold for $1M and above in October. The most active
price point in October was between the ranges of $300K to $400K.
There was a tiny upswing with properties selling in the $200K and under price
range. There were 53 Single family, 164 Multi-family and
17 Vacant land transactions in October.
·
2014 Average Price History: Average residential pricing continues to
be consistent as of October - Single family is $783,532, Multi-
family is at $360,005 and Vacant land is $331,859.
·
Historical Cost Breakdown YTD 2014: There have been 1406 residential transactions YTD 2014 and
$702,683,981 gross volume with 106 properties selling for a $1M and
over- Compared to 2013 YTD, there were 1313 transactions and
$647,705,300 gross volume, 104 properties at $1M and over and in
2012 YTD, there were 1032 transactions with $536,460,200 gross volume, 89
properties at $1M and over.
·
Top Lender Graph: There were 499 loans in October, with 63% of the purchasers
obtaining financing at the time of sale. 37% of the real estate closings were
cash transactions. There were 117 Refinances. 224 loans were related to
Timeshare sales.
·
Market Highlights: Please see page 10 of
the Market Analysis-View the higher priced purchases in October with the
third month in 2014 with no bank sales.
·
Foreclosures: Foreclosure actions continue to decrease each month with
only 13 this October compared to 12 last October 2013.
·
Land Title Purchaser Highlights (Page 15): There were 17 higher end sales in October
to note- you can see the details on this report. In
October, the majority of our buyers for real estate transactions
continue to be the Front Range demographic at 48% of our market, only 21% are
local and 30% 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)
|
Tuesday, December 2, 2014
October 2014 Market Analysis
Subscribe to:
Posts (Atom)