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.
February 2016 Highlights
Market Analysis by
Area for February 2016: February was
a great 2nd month for 2016 with 126 transactions and $66,997,100 monetary
volume. Average transaction price for all 18 reported areas: $545,103: Average
residential price: $562,059: Average residential PPSF $362,all up from January
2016.
Year to Date Market
Analysis (2 months): So far, monetary volume is $130,228,750 with 250
transactions. Average transaction price: $529,399: Average residential price:
$548,088 and PPSF: $359
Market Snapshot for
Years 2016 vs 2015: Pricing was fairly flat in February except for Vacant
Land: Average Indicators for $: Single Family -1%, Multi- Family +1% and Vacant
Land -8%. Median Indicators for $: Single Family -1%, Multi- Family +3% and
Vacant Land +34%.
Market Analysis %
Change YTD 2016 Data (2 months): Monetary volume ($66,997.100) in February
was up 33% compared to February 2015. Number of transactions (126) were up 19%
in February compared to February 2015. YTD 2016, monetary volume is up 11% and
transactions are up 7% compared to YTD 2016.
Residential Market
Sales by Price Point: Residential volume in February had 105 transactions
with $59,016,200 gross volume. There were 10 properties that sold for $1M and
above in February. The most active price
points (18) were between the $500K-$600K range this month ( up from past
months). There were 40 Single Family, 65 Multi-Family and 5 Vacant Land
transactions in February.
Comparative
Historical Cost Analysis (2 months): There were 209 residential
transactions and $114,550,350 volume
with 19 properties selling for a $1M and over-compared to 2015, there were 187
transactions and $99,488,300 gross volume, 15 properties at $1M and over and in
2014, there were 150 transactions with $73,888,600 gross volume, 11 properties
at $1M and over.
Average Price History
by Type (2 months): Average price for residential Single Family: $848,954,
Mulit- Family: $402,989 and Vacant Land: $343,967. This graph is a wonderful
marketing piece to share showing the price stability in Summit County over the
years.
Top Lender Graph:
There were 493 loans in February, 67% of the loans were related to sales, there
were 125 REFI's and 284 loans were timeshare related. 33% of the real estate
closings were cash transactions.
Market Highlights:
Please see page 10 of the Market Analysis-Higher priced sale in February (Shock
Hill Landing). There was one bank sale in February.
Foreclosures:
There were 5 Foreclosure actions in February 2016 compared to one in February
2015.
Purchaser Profile
Abstract (Page 14): There were 10 higher end sales in February. You can see
the details on this report. Our buyers for real estate transactions were the
Front Range demographic at 37% of our market, 31% are local (side note: which
in part are "retires" coming
to Summit County) and 32% are out of state buyers, with 1% International.
As always, please feel free to contact me anytime at the
information below. 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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