March 2015 Highlights
• Market
Analysis by Area for March: March was a great spring month for real estate with
$83,058,500 in monetary volume and 149 transactions. The average transaction
price for all reported 18 areas: $565,315, average residential price: $544,761
and median residential price: $389,000.The average PPSF was $343. Silverthorne
and the Wildernest areas were active in March with a total of 32 transactions.
• Market
Analysis by Area YTD 2015 (3 months-first quarter of 2015): YTD- monetary
volume was $199,921,300 with 382 transactions. Average transaction price:
$528,047, Average residential price: $536,768 and Average PPSF: $345.
• Market
Snapshot for Years 2015 vs.2014: Values
continue to be strong for the first quarter of 2015 and are as follows: Average
Indicators for $: Single Family +8%, Multi- Family +10% and Vacant Land +18%.
Median Indicators for $: Single Family +9%, Multi- Family +12% and Vacant Land
+20%.
• Market
Analysis % Change showing years 2004-2015: Monetary volume ($83,058,500) in
March is up +37% compared to March 2014. Number of transactions (149) up +25%
in March 2015 compared to March 2014. YTD ( 3 months) Summit County real estate
is up 30% in monetary volume and up 26% with number of transactions compared to
YTD 2014. The first quarter of 2015 continues at a strong pace and reflects the
best improvement since 2008.
• Residential
Market Sales by Price Point: Residential volume in March had 111 transactions
with $60,468,500 gross volume. There
were 13 properties that sold for $1M and above in March. The most active price point was the
$200K-$300K range. There were 38 Single family, 73 Multi-family and 15 Vacant
land transactions in March.
• YTD 2015
Average Price History: Average residential pricing is strong for the first
quarter of 2015: Single Family- $851,420, Multi- Family-$391,781 and Vacant
Land-$374,447.
• Historical
Cost Breakdown for 2015: There have been 298 residential transactions the first
quarter of 2015 and $159,956,800 gross volume with 28 properties selling for a
$1M and over- Compared to 2014- there were 254 transactions and $129,120,700
gross volume, 20 properties at $1M and over and in 2013, there were 239
transactions with $116,142,700 gross volume, 16 properties at $1M and over.
• Top
Lender Graph: There were 426 loans in March, 65% (97) loans were related to
sales, there were 161 REFI's and 168 loans were timeshare related. 35% of the
real estate closings were cash transactions.
• Market
Highlights: Please see page 10 of the Market Analysis-Higher priced sales in
March with only one to note. There were 2 bank sales in March.
• Foreclosures: Foreclosures were more consistent with March
2014 (8) with 10 in March 2015.
• Land
Title Purchaser Highlights (Page 14):
There were 16 higher end sales in March - you can see the details on
this report. Blue River Apartments sold in March with 186 bedrooms at
$9.25M. In March, our buyers for real
estate transactions were the Front Range demographic at 46% of our market, 28%
are local and 27% are out of state buyers, with 0% International. We did see a
surge in local buyers in March with is typical for the spring selling season.
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)
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