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.
October 2016 Highlights
Market Analysis by
Area for October 2016: There were 263 transactions and $149,691,558 in
monetary volume. Some trends for all 18 reported areas: $576,374- Average
transaction price, $577,190- Average residential price and $377- PPSF.
Year to Date Market
Analysis (10 months): Monetary volume was $1,101,222,223 with 2015
transactions. Average transaction price-$555,873, Average residential price-$570,245
and PPSF-$369.
Market Snapshot for
Years 2016 vs 2015: Average
Indicators for $: Single Family +7%, Multi- Family +2% and Vacant Land -11%.
Median Indicators for $: Single Family +8%, Multi- Family 4% and Vacant Land
-4%.
Market Analysis %
Change YTD 2016 Data (10 months): Monetary volume ($149,691,558) in October
was down 5% compared to October 2015. Number of transactions (263) was down -7%
in October compared to October 2015. YTD 2016, monetary volume is pacing -2%
compared to YTD 2015 and transactions continue that same trend at -2% compared
to YTD 2016. Numbers are still ahead of previous years 2008 through 2014. There
continues to be a shortage of inventory in Summit County.
Residential Market
Sales by Price Point: Residential volume in October had 229 transactions
with $132,176,428 gross volume. There were 25 properties that sold for $1M and
above in October. The most active price point was between $200K-300K with 44
transactions. There were 70 Single Family, 159 Multi-Family and 11 Vacant Land
transactions in October.
Comparative
Historical Cost Analysis (10 months): There were 1692 residential
transactions and $964,853,906 volume with 175 properties selling for a $1M and
over-compared to 2015, there were 1691 transactions and $926,899,418 gross
volume, 164 properties at $1M and over and in 2014, there were 1406
transactions with $702,683,981 gross volume, 106 properties at $1M and over.
Average Price History
by Type (10 months): Average price for residential Single Family: $919,210,
Multi- Family: $405,776 and Vacant Land: $331,927.
Top Lender Graph:
There were 549 loans in October, 72% of the loans were related to sales, there
were 191 REFI's and 168 loans were timeshare related. 28% 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 October in the Highlands area and a One Ski Hill Place for highest PPSF.
There were 3 bank sales in October.
Foreclosures:
There were 4 Foreclosure actions in October, compared to 2 in October 2015. So
far, this year, there have been a total of 38 Foreclosure actions filed.
Purchaser Profile
Abstract: Upper end purchasers
totaled 28 in October. Our buyers for real estate transactions were the Front
Range demographic at 37% of our market, 25% are "local" and 37% are
out of state buyers with 0% International.
Click Here For the Full Report.
As always, you can 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)