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.
December Highlights
Market Analysis by
Area for December 2016: There were 203 transactions and $122,880,919 in
monetary volume. Some trends for all 18 reported areas in December: $621,604-
Average transaction price, $670,122- Average residential price and $397-PPSF.
Year to Date Market
Analysis (12 months): Monetary volume in 2016 totaled $1,408,666,800 with
2486 transactions. $576,531-Average transaction price, $579,812-Average
residential price and $373-PPSF. Breckenridge finished with 20% of the
transactions, Keystone 14%, Frisco 11%, Wildernest 10% and Silverthorne 9%. The
rest were scattered across the board in Summit County. 7% of the sales in 2016
were new unit sales.
Market Snapshot for
Years 2016 vs 2015: Average
Indicators for $: Single Family +9% Multi- Family +3% and Vacant Land -5%.
Median Indicators for $: Single Family +9%, Multi- Family 6% and Vacant Land
1%. (Median) Keystone and North of Silverthorne were the winners for the
biggest increase with single family prices. (Median)The Breckenridge Golf Course
and Silverthorne had the largest increase for multi- family and North of
Silverthorne and Woodmoor had the largest increase for vacant land.
Market Analysis %
Change YTD 2016 Data Full Year: Monetary volume ($122,880,919) in December
2016 was 13% lower compared to December 2015. Transactions were down by 26%.
This is more than likely due to record low inventory available in December
2016. 2016 finished up with 3% increase
in monetary volume ($1,408,666,800) compared to 2015. Transactions for 2016
(2486) were -2% down from 2015. Overall, 2016 real estate numbers were fairly
flat to 2015. Comparing to prior years volume, 2016 was another positive year
for the Summit real estate market.
Residential Market
Sales by Price Point: Residential volume in December had 166 transactions
with $111,240,192 gross volume. There were 22 properties that sold for $1M and
above in December. The most active price point was up a bit between $400K-500K
with 26 transactions. There were 63 Single Family, 103 Multi-Family and 18 Vacant
Land transactions in December.
Average Price History
by Type 2016: Average price for residential Single Family: $934,163
(highest since Land Title has been tracking), Multi- Family: $409,673 and
Vacant Land: $353,500.
Comparative
Historical Cost Analysis 2016: There were 2087 residential transactions and
$1,210,067,633 volume with 225 properties selling for a $1M and over-compared
to 2015, there were 2100 transactions and $1,148,024,568 gross volume, 198
properties at $1M and over and in 2014, there were 1731 transactions with
$858,667,681 gross volume, 126 properties at $1M and over.
Top Lender Graph: There
were 463 loans in December, 68% of the loans were related to sales, there were
194 REFI's and 131 loans were timeshare related. 32% of the real estate
closings were cash transactions. The average cash closings for 2016 was at 34%,
down from past years. There is a bonus page on the Market Analysis at the end,
listing the top 80% lenders in Summit.
Market Highlights:
Please see page 10 of the Market Analysis- You can note the higher priced sale
in December in the Shock Hill Subdivision and in the Frisco area for highest
PPSF. There was 1 bank sale in December.
Foreclosures:
There were 4 Foreclosure actions in December, compared to 3 in November.
Foreclosures are a new animal compared to previous years, with the end of year
reflecting 35 NED's recorded, and 26 were withdrawn, totaling only 9 Public
Trustee's Deed issued in 2016.
Purchaser Profile
Abstract: There were 22 upper end
purchaser in December compared to 35 in November. Our buyers for real estate
transactions in December were the Front Range demographic at 41% of our market,
29% are "local" and 30% are out of state buyers with 0%
International. Full year 2016: 38% of our buyers are from the Front Range, 30%
are "local", 32% Out of State and 0% International.
Land Title New Development
Summary: This (page 16) shows all the new construction each month with 16
in December compared to 20 in November.
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)
Resort & Second Property Specialist (RSPS)
Short Sale and Foreclosure Representative (SFR)