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 2016 Highlights
Market Analysis by
Area for January 2016: The start of 2016 kicked off with 124 transactions
and $63,231,650 monetary volume. As many of us know, January is a slower month
for real estate movement in the mountains. Average transaction price for all 18
reported areas: $514,210: Average residential price: $533,982: Average
residential PPSF $355. New this year, you will see a line item for Deed
Restricted Units on this report.
Market Snapshot for
Years 2016 vs 2015: Prices look good compared to full year 2015 and are as
follows: Average Indicators for $: Single Family +3%, Multi- Family +2% and
Vacant Land -16%. Median Indicators for $: Single Family -3%, Multi- Family +9%
and Vacant Land +6%.
Market Analysis %
Change YTD 2016 Data (1 month): Monetary volume ($63,231,650) in January
was down -5% compared to January 2015. Number of transactions (124) were down
-2% in January compared to January 2015. Currently, inventory is extremely low
in Summit County.
Residential Market
Sales by Price Point: Residential volume in January had 104 transactions
with $55,534,150 gross volume. There were 9 properties that sold for $1M and
above in January. The most active price
points were between the $200K-$400K range this month. There were 28 Single family,
76 Multi-family and 7 Vacant land transactions in January.
Full Year 2015
Average Price History: Average residential pricing is consistent starting
off 2016- Single Family: $877,732, Multi- Family:$407,338 and Vacant Land was
$311,943.
Comparative
Historical Cost Analysis: There were again 104 residential
transactions and $55,534,150 volume with
9 properties selling for a $1M and over-compared to 2015, there were 98
transactions and $56,210,600 gross volume, 12 properties at $1M and over and in
2014, there were 83 transactions with $38,988,500 gross volume, 7 properties at
$1M and over.
Top Lender Graph:
There were 368 loans in January, 63% of the loans were related to sales, there
were 123 REFI's and 167 loans were timeshare related. 37% of the real estate
closings were cash transactions.
Market Highlights:
Please see page 10 of the Market Analysis-Higher priced sale in January (Gold
Flake Terrace). There was one bank sale in January.
Foreclosures:
There were 4 Foreclosure actions in January 2016 compared to 8 in January 2015.
Purchaser Profile
Abstract (Page 14): There were 10 higher end sales in January - you can see
the details on this report. Our buyers for real estate transactions were the
Front Range demographic at 40% of our market, 31% are local ( side note: which
in part are "retires" coming
to Summit County) and 29% are out of state buyers, with 0% International.
Land Title New
Development Summary: This (page 15) shows all the new construction each
month with 10 in January.
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
"Your Guide to Summit County Real Estate"
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
