Monday, November 28, 2016

October 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.


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)