September 2016 Market Analysis

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.

September 2016 Highlights

Market Analysis by Area for September 2016: There were 297 transactions and $174,179,706 in monetary volume. Some trends for all 18 reported areas: $596,761- Average transaction price, $612,119- Average Residential price and $385- PPSF, all up from July and August 2016.

Year to Date Market Analysis (9 months): Monetary volume was $951,530,665 with 1752 transactions. Average transaction price-$552,761, Average residential price-$569,158 and PPSF-$368.

Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +8%, Multi- Family 0% and Vacant Land -10%. Median Indicators for $: Single Family +8%, Multi- Family 3% and Vacant Land -4%. 

Market Analysis % Change YTD 2016 Data (9 months): Monetary volume ($174,179,706) in September was up 5% compared to September 2015. Number of transactions (297) was fairly flat at -1% in September compared to September 2015. YTD 2016, monetary volume is pacing flat at -1% compared to YTD 2015 and transactions continue  that same trend at -1% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.

Residential Market Sales by Price Point: Residential volume in September had 243 transactions with $148,744,985 gross volume. There were 29 properties that sold for $1M and above in September. The most active price points were up from the past few months. They were between the $400K-$500K (49) range. There were 87 Single Family, 156 Multi-Family and 16 Vacant Land transactions in September.

Comparative Historical Cost Analysis (9 months): There were 1463 residential transactions and $832,677,478 volume with 150 properties selling for a $1M and over-compared to 2015, there were 1438 transactions and $784,072,868 gross volume, 140 properties at $1M and over and in 2014, there were 1189 transactions with $598,246,081 gross volume, 91 properties at $1M and over.

Average Price History by Type (9 months): Average price for residential Single Family: $922,641, Multi- Family: $400,798 and Vacant Land: $336,198.

Top Lender Graph: There were 648 loans in September, 70% of the loans were related to sales, there were 177 REFI's and 264 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 September in the Lewis Ranch area at Copper and a Waterhouse Condo for highest PPSF. There were no bank sales in September.

Foreclosures: There was only 1 foreclosure Fee Simple property in September. 

Purchaser Profile Abstract:  Upper end purchasers totaled 31 in September. Our buyers for real estate transactions were the Front Range demographic at 38% of our market, 26% are "local" and 36% are out of state buyers with 0% International. There is a new page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.

The full report can be found here: http://www.ltgc.com/files/breckenridge-marketstats/SUMMITSEPTEMBER2016.pdf

As always, please feel free to contact me any time 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    

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

"Your Guide to Summit County Real Estate"

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