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 2016 Highlights
Market Analysis by
Area for May 2016: May was good month for real estate with 197 transactions
and $114,889,906 in monetary volume. Average transaction price for all 18
reported areas: $589,646 Average residential price, $549,977 average
residential and PPSF at $377.
Year to Date Market
Analysis (5 months): Monetary volume was $420,473,783 with 738
transactions. Average transaction price: $577,710, Average residential price:
$574,769 and PPSF: $366.
Market Snapshot for
Years 2016 vs 2015: Average
Indicators for $: Single Family +9%, Multi- Family -1% and Vacant Land +3%.
Median Indicators for $: Single Family +6%, Multi- Family +3% and Vacant Land
+6%.
Market Analysis %
Change YTD 2016 Data (5 months): Monetary volume ($114.889,906) in May was
down -1% compared to May 2015. Number of transactions (197) was down -4% in May
compared to May 2015. YTD 2016, monetary
volume is up 3% and transactions are flat compared to YTD 2016. There is still
a shortage of inventory in Summit County.
Residential Market
Sales by Price Point: Residential volume in May had 170 transactions with
$93,496,106 gross volume. There were 15 properties that sold for $1M and above
in May. The most active price points were between the $200K-$400K range this
month. There were 52 Single Family, 118 Multi-Family and 10 Vacant Land
transactions in May.
Comparative
Historical Cost Analysis (5 months): There were 629 residential
transactions and $361,529,783 volume with 61 properties selling for a $1M and
over-compared to 2015, there were 596 transactions and $326,488,500 gross
volume, 55 properties at $1M and over and in 2014, there were 505 transactions
with $266,433,406 gross volume, 48 properties at $1M and over.
Average Price History
by Type (5 months): Average price for residential Single Family: $934,437,
Mulit- Family: $397,071 and Vacant Land: $382,140.
Top Lender Graph:
There were 469 loans in May, 66% of the loans were related to sales, there were
149 REFI's and 190 loans were timeshare related. 34% of the real estate
closings were cash transactions.
Market Highlights:
Please see page 10 of the Market Analysis-Higher priced sale in May (Four
O'Clock Subdivision). There were no bank sales in May.
Foreclosures:
There were 3 foreclosure actions in May 2016 compared to 4 in May 2015.
Purchaser Profile
Abstract: Upper end purchasers
totaled 21 in May. Our buyers for real estate transactions were the Front Range
demographic at 27% of our market, 38% are "local" and 34% are out of
state buyers, with 1% International.
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
"Your Guide to Summit County Real Estate"
Certified Negotiation Expert (CNE)
Short Sale and Foreclosure Representative (SFR)
