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.
February 2017 Market Highlights
• Market
Analysis by Area for February 2017: There were 116 transactions and $71,152,600
in monetary volume. Some trends for all 18 reported areas in February:
$644,610- Average transaction price, $642,609- Average residential price and
$408-PPSF.
• Year to
Date Market Analysis (2 months): Monetary volume in 2017 totaled $163,053,674
with 254 transactions. $666,373-Average transaction price, $672,973-Average
residential price and $426-PPSF.
• Market
Snapshot for Years 2017 vs 2016: Average
Indicators for $: Single Family +24%, Multi- Family +5% and Vacant Land +2%.
Median Indicators for $: Single Family +16%, Multi- Family +5% and Vacant Land
+3%.
• Market Analysis
% Change YTD 2017: Monetary volume ($71,152,600) in February 2017 was 6% higher
at than February 2016. Transactions were down 8% from February 2016 due do the
inventory supply. YTD 2017, monetary volume is up by 25% and transactions are
up 2% compared to YTD 2016.
• Residential
Market Sales by Price Point: Residential volume in February had 100
transactions with $64,260,900 gross volume. There were 14 properties that sold
for $1M and above in February. The most active price point was between $200K-300K
with 23 transactions. There were 30 Single Family, 70 Multi-Family and 5 Vacant
Land transactions in February.
• Average
Price History by Type 2017: Average price for residential Single Family:
$1,154,877, Multi- Family: $432,021 and Vacant Land: $360,583.
• Comparative
Historical Cost Analysis 2017: There were 213 residential transactions and
$143,343,260 gross $ volume with 37 properties selling for a $1M and
over-compared to 2016, there were 209 transactions and $114,550,350 $ gross
volume, 19 properties at $1M and over.
In 2015, there were 187 transactions with $99,488,300 $ gross volume, 15
properties at $1M and over.
• Top
Lender Graph: There were 400 loans in February, 63% (73) of the loans were
related to sales, there were 138 REFI's and 189 loans were timeshare related.
37% 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 February in the Timber Trail area, One Ski Hill place topped out
the highest PPSF at $1,299. There were no bank sales in February.
• Foreclosures:
There were 5 Foreclosure actions in February.
• Purchaser
Profile Abstract: There were 17 upper
end purchasers in February compared to 25 in January. Our buyers for real
estate transactions in February were the Front Range demographic at 45% of our
market, 29% are "local" and 25% are out of state buyers with barely
1% International.
Please feel free to contact 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)
