October 2015 Market Analysis

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.

October 2015 Highlights

•             Market Analysis by Area for October:  October was another month with upward trends for real estate transactions in Summit County.  There was $156,891,050 in monetary volume and 284 transactions. The average transaction price for all reported 18 areas: $554,381, average residential: $564,532, median residential: $425,000 and average PPSF: $355.

•             Market Analysis by Area YTD 2015 (10 months): YTD- monetary volume was $1,121,442,611 with 2056 transactions. Average transaction price: $548,395, average residential price: $548,137 and average PPSF: $345.

•             Market Snapshot for Years 2015 vs.2014:  Values are still strong and are as follows: Average Indicators for $: Single Family +9%, Multi- Family +12% and Vacant Land +18%.Median Indicators for $: Single Family +6%, Multi- Family +18% and Vacant Land +10%. 

•             Market Analysis % Change showing years 2004-2015: Monetary volume ($156,891,050) in October is up +21% compared to October 2014. Number of transactions (284) are up 7% in October 2015 compared to October 2014. YTD (10 months) Summit County real estate is up 30% in monetary volume and up 18% with number of transactions compared to YTD 2014.

•             Residential Market Sales by Price Point: Residential volume in October had 253 transactions with $142,826,550 gross volume.  There were 24 properties that sold for $1M and above in October.  The most active price points were in the $200K-$400K range this month. There were 86 Single family, 167 Multi-family and 10 Vacant land transactions in October. 

•             YTD 2015 Average Price History: Average residential pricing continues to increase for 2015- Single Family: $857,481, Multi- Family: $399,825 and Vacant Land: $375,690.

•             Historical Cost Breakdown for 2015: There have been 1691 residential transactions YTD and $926,899,418 volume with 164 properties selling for a $1M and over-compared to 2014, there were 1406 transactions and $702,683,981 gross volume, 106 properties at $1M and over and in 2013, there were 1313 transactions with $644,705,300 gross volume, 104 properties at $1M and over.

•             Top Lender Graph: There were 675 loans in October, 63% of the loans were related to sales, there were 112 REFI's and 383 loans were timeshare related. 37% of the real estate closings were cash transactions.

•             Foreclosures:  There were only 2 foreclosure actions in October, compared to 13 in October 2014.

•             Land Title Purchaser Highlights (Page 14):  There were 29 higher end sales in October- you can see the details on this report. In October, our buyers for real estate transactions were the Front Range demographic at 46% of our market, 23% are local and 31% are out of state buyers, with 0% International.

Please Click Here to View the Full Report

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    

Web: www.tylermacguire.com

Email: www.tylermacguire@hotmail.com

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