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.
May 2015 Highlights
Market Analysis by
Area for May: May real estate in Summit County was another great month!
There was $116,330,500 in monetary volume and 205 transactions. The average
transaction price for all reported 18 areas: $573,027, average residential
$540,710, median residential $ 435,000 and average PPSF $330.
Market Analysis by
Area YTD 2015 (5 months): YTD- monetary volume was $408,625,385 with 740
transactions. Average transaction price: $557,667, average residential price:
$547,799 and Average PPSF: $337.
Market Snapshot for
Years 2015 vs.2014: Values continue
to be strong and are as follows: Average Indicators for $: Single Family +10%,
Multi- Family +12% and Vacant Land +33%. Median Indicators for $: Single Family
+6%, Multi- Family +19% and Vacant Land +32%.
Market Analysis %
Change showing years 2004-2015: Monetary volume ($116,330,500) in May is up
+27% compared to May 2014. Number of transactions (205) up +18% in May 2015
compared to May 2014. YTD ( 5 months) Summit County real estate is up 34% in
monetary volume and up 24% with number of transactions compared to YTD 2014.
This is the best May since 2007!
Residential Market
Sales by Price Point: Residential volume in May had 173 transactions with
$93,542,900 gross volume. There were 12
properties that sold for $1M and above in May.
The most active price point was the $300K-$400K range. There were 50
Single family, 123 Multi-family and 11 Vacant land transactions in May.
YTD 2015 Average
Price History: Average residential pricing continues the upward trend for
2015- Single Family- $862,364, Multi- Family-$399,449 and Vacant Land-$424,063.
Historical Cost
Breakdown for 2015: There have been 596 residential transactions YTD and
$326,488,500 gross volume with 55 properties selling for a $1M and over-
Compared to 2014- there were 505 transactions and $266,433,406 gross volume, 48 properties at $1M and over
and in 2013, there were 491 transactions with $250,304,400 gross volume, 38
properties at $1M and over.
Top Lender Graph:
There were 415 loans in May, 72% of the loans were related to sales, there were
125 REFI's and 142 loans were timeshare related. 28% of the real estate closings
were cash transactions down from the past months.
Market Highlights:
Please see page 10 of the Market Analysis-Higher priced sales in May with only
one to note at One Ski Hill Place. There were 4 Bank sales in May compared to 1
in April.
Foreclosures: Foreclosures continue to decline with 4 filed
actions in May compared to 22 in May 2014.
Land Title Purchaser
Highlights (Page 14): There were 13
higher end sales in May - you can see the details on this report. In May, our buyers for real estate
transactions were the Front Range demographic at 38% of our market, 32% are
local and 29% are out of state buyers, with 1% International.
To view the full report please click here: Land Title Guarantee Company May 2015 Market Analysis.
As always, please let me know if you have any
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)
