Summit County Real Estate: March 2015

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.

January 2015 Highlights:

Market Analysis by Area for January: January was off to a positive start in 2015 with $66,536,300 in monetary volume and 127 transactions. The average transaction price for all reported 18 areas was $523,908, average residential price was $573,578 and median residential price was $404,500. The average PPSF was $347. All of these prices are up from December 2014!
Market Snapshot for Years 2015 vs.2014: Values start out strong in 2015 and are as follows: Average Indicators for $: Single Family +14%, Multi- Family +17% and Vacant Land +37%. Median Indicators for $: Single Family +14%, Multi- Family +15% and Vacant Land +91%.
Market Analysis % Change showing years 2004-2015: Monetary volume ($66,536,300) is up 28% from January 2014, transaction volume (127) is up 25% from January 2014. January 2015 shows the best improvement in a January with both monetary volume and transactions numbers since 2008!
Residential Market Sales by Price Point: Residential volume in January had 98 transactions with $56,210,600 gross volume. There were 12 properties that sold for $1M and above in January. The most active price point in January was between the ranges of $200K to $300K. There were 32 Single family, 66 Multi-family and 11 Vacant land transactions in January.
2015 Average Price History: Average residential pricing is up from 2014: Single Family- $891,931, Multi- Family-$419,224 and Vacant Land-$434,482.
Historical Cost Breakdown for 2015: There have been 98 residential transactions in 2015 and $56,210,600 gross volume with 12 properties selling for a $1M and over- Compared to 2014- there were 83 transactions and $38,988,500 gross volume, 7 properties at $1M and over and in 2013, there were 89 transactions with $48,299,200 gross volume, 10 properties at $1M and over.
Top Lender Graph: There were 423 loans in January, 61% (77) loans were related to sales, there were 110 REFI's and 236 loans were timeshare related. 39% of the real estate closings were cash transactions.
Land Title Purchaser Highlights (Page 14): There were 13 higher end sales in January to note- you can see the details on this report. In January, our buyers for real estate transactions were the Front Range demographic at 45% of our market, up this month- 45% are local and 28% are out of state buyers.