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.
July 2016 Highlights
Market Analysis by
Area for July 2016: There were 215 transactions and $104,621,918 in
monetary volume. Average transaction price for all 18 reported areas: $492,978,
Average residential price, $513,101 average residential and PPSF at $361.
Year to Date Market
Analysis (7 months): Monetary volume was $638,127,710 with 1173
transactions. Average transaction price: $554,196, Average residential price:
$562,664 and PPSF: $364.
Market Snapshot for
Years 2016 vs 2015: Average
Indicators for $: Single Family +10%, Multi- Family -3% and Vacant Land -6%.
Median Indicators for $: Single Family +8%, Multi- Family -1% and Vacant Land
-9%.
Market Analysis %
Change YTD 2016 Data (7 months): Monetary volume ($104,621,918) in July was
down -11% compared to July 2015. Number of transactions (215) was up 6% in July
compared to July 2015. YTD 2016, monetary volume down -3% compared to YTD 2015
and transactions are also down only -3% compared to YTD 2016. There continues
to be a shortage of inventory in Summit County.
Residential Market
Sales by Price Point: Residential volume in July had 176 transactions with
$90,305,771 gross volume. There were 21 properties that sold for $1M and above
in July. The most active price points were between the $200K-$400K (71) range
this month. There were 45 Single Family, 131 Multi-Family and 18 Vacant Land
transactions in July.
Comparative
Historical Cost Analysis (7 months): There were 992 residential
transactions and $558,162,218 volume with 99 properties selling for a $1M and
over-compared to 2015, there were 959 transactions and $519,352,800 gross
volume, 89 properties at $1M and over and in 2014, there were 782 transactions
with $318,435,356 gross volume, 65 properties at $1M and over.
Average Price History
by Type (7 months): Average price for residential Single Family: $970,716,
Multi- Family: $355,905 and Vacant Land: $365,083.
Top Lender Graph:
There were 462 loans in July, 64% of the loans were related to sales, there
were 137 REFI's and 187 loans were timeshare related. 36% of the real estate
closings were cash transactions.
Foreclosures:
There were 7 foreclosure actions in July 2016 compared to 12 in July 2015.
There are only 29 foreclosure actions YTD.
Click here to view the full report
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)