October 2014 Highlights
Market Analysis by
Area for November: November was a great month with $93,284,600
in monetary volume and 203 transactions. The average transaction price for all
reported 18 areas was $459,530, average residential price was
$472,534 and median residential price was $350,000.The
average PPSF was $313.
YTD Transaction
Summary: There have been a total of 1868 transactions with
$883,103,681 monetary volume, the average transaction price for all 18 reported
areas was $473,622. The average residential price was $496,653. The median
residential price was $393,750. The average PPSF was $313.
Market Snapshot for
YTD 2014 vs. 2013: Values remain steady and are as
follows: Average Indicators for $: Single Family +4%, Multi- Family
+3% and Vacant Land -1. Median Indicators for $: Single Family
+5%, Multi- Family +6% and Vacant Land +16%.
Market Analysis %
Change showing years 2004-2014 November YTD: Monetary volume
($93,284,600) is up 16% from November 2013, transaction volume (203) is up
19% from November 2013. 2014 YTD (11 months) monetary
volume is up 8% from YTD 2013. YTD 2014 transaction volume is up by
5% from YTD 2013. Monetary volume and transaction volume are the
highest for the month of November since 2007.
Residential Market
Sales by Price Point: Residential volume in November had
182 transactions with $86,001,200 gross volume. There were
10 properties that sold for $1M and above in November. The most
active price point in November was between the ranges of $200K to $400K.
There were 58 Single family, 124 Multi-family and 9 Vacant
land transactions in November.
2014 Average Price
History: Average residential pricing continues to be
consistent as of November: Single Family- $783,894, Multi-
Family-$355,997 and Vacant Land-$321,469.
Historical Cost
Breakdown YTD 2014: There have been 1588 residential transactions YTD
2014 and $788,685,181 gross volume with 116 properties selling for a $1M
and over- Compared to 2013 YTD, there were 1450 transactions and
$710,018,300 gross volume, 111 properties at $1M and over and in 2012
YTD, there were 1165 transactions with $597,903,800 gross volume, 95 properties
at $1M and over.
Top Lender Graph: There
were 432 loans in November, 134 loans were related to sales, there were
118 REFI's and 180 loans were timeshare related. 37% of the real estate
closings were cash transactions.
Foreclosures: Foreclosure
actions continue to decrease each month with only 6 this November
with 4 being Fee Simple. 2014 foreclosures are substantially down from
years past!
Land Title Purchaser
Highlights (Page 15): There were 11 higher end sales in
November to note- you can see the details on this report. In
November, the majority of our buyers for real estate transactions
continue to be the Front Range demographic at 51% of our market, only 23% are
local and 26% 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)
