The
following data 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.
November 2016 Highlights
Market Analysis by Area for November 2016: There were 268 transactions and $184,563,658
in monetary volume. Some trends for all 18 reported areas: $700,920- Average
transaction price, $585,037- Average residential price and PPSF- $384.
Year to Date Market Analysis (11 months): Monetary volume was $1,285,785,881 with 2283
transactions. Average transaction price-$572,647 Average residential
price-$572,008 and PPSF-$371.
Market Snapshot for Years 2016 vs 2015:
Average Indicators for $: Single Family +8%, Multi- Family +2% and
Vacant Land -5%. Median Indicators for $: Single Family +9%, Multi- Family 5%
and Vacant Land -2%.
Market Analysis % Change YTD 2016 Data (11
months): Monetary volume
($184,563,658) in November was out the gate due to several larger Commercial
Transactions, one in Copper, Inn at Keystone and Shell/Dunkin Donuts. Also,
there were a lot of upper end Residential activity which accounted for a 68%
increase with monetary volume from November 2015. Number of transactions (268)
were also up 31% in November compared to November 2015. YTD 2016, monetary
volume is pacing 4% compared to YTD 2015 and transactions continue to be fairly
flat at 1%. Summit County continues to have extremely low inventory for
Residential properties.
Residential Market Sales by Price Point: Residential volume in November had 229
transactions with $133,973,535 gross volume. There were 28 properties that sold
for $1M and above in November. The most active price point was between
$200K-300K with 44 transactions. There were 72 Single Family, 157 Multi-Family
and 10 Vacant Land transactions in November.
Average Price History by Type (11 months): Average price for residential Single Family:
$922,163, Multi- Family: $407,513 and Vacant Land: $354,248.
Comparative Historical Cost Analysis (11
months): There were 1921
residential transactions and $1,098,827,441 volume with 203 properties selling
for a $1M and over-compared to 2015, there were 1870 transactions and
$1,027,115,318 gross volume, 182 properties at $1M and over and in 2014, there
were 1588 transactions with $788,685,181 gross volume, 116 properties at $1M
and over.
Top Lender Graph: There were 659 loans in November, 70% of the
loans were related to sales, there were 186 REFI's and 285 loans were timeshare
related. 30% of the real estate closings were cash transactions.
Market Highlights: Please see page 10 of the Market Analysis-
You can note the higher priced sale in November in the Shock Hill Subdivision
and in the Highlands area for highest PPSF. There were 2 bank sales in
November.
Foreclosures: There were 6 Foreclosure actions in
November, compared to 4 in November 2015. So far, this year, there have been a
total of 44 Foreclosure actions filed.
Purchaser Profile Abstract: Upper
end purchasers were up in November with 35, compared to 28 in October. Our
buyers for real estate transactions were the Front Range demographic at 40% of
our market, 26% are "local" and 34% are out of state buyers with 0%
International. Check out page 15 with the Purchaser Detailed Profile for
specifics on our Out of State buyers.
As always, please
feel free to contact me any time 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
"Your Guide to Summit County Real Estate"
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
