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.
August 2017 Highlights
Market Analysis by
Area for August 2017: The month of August was Summit's best month so far in
2017! There were 272 transactions and $170,248,375 in monetary volume. Some
trends for all 18 reported areas in August: $ 632,245 Average transaction
price, $679,419 Average residential price and $424 PPSF.
Year to Date Market
Analysis (8 months): Monetary volume in 2017 totaled $981,368,068 with 1577
transactions. $638,758 Average transaction price, $673,202 Average residential
price and $426 PPSF.
Market Snapshot for
Years 2017 vs 2016: Average
Indicators for $: Single Family +17%, Multi- Family +12% and Vacant Land 0%.
Median Indicators for $: Single Family +22%, Multi- Family +10% and Vacant Land
-9%.
Market Analysis %
Change YTD 2017: Monetary volume ($170,248,375) in August 2017 was 22%
higher than August 2016. Transactions (272) were down 4% to August 2016. YTD 2017, monetary volume is up by 26% and
transactions are up 8% compared to YTD 2016.
Residential Market
Sales by Price Point: Residential volume in August had 231 transactions
with $ 156,945,700 gross volume. There were 38 properties that sold for $1M and
above in August. The most active price points were between $300K-$500K with
transactions. There were 78 Single Family, 153 Multi-Family and 20 Vacant Land
transactions in August.
Average Price History
by Type 2017: Average price for residential Single Family: $1,096,406,
Multi- Family: $460,631 and Vacant Land: $354,151.
Comparative
Historical Cost Analysis 2017 YTD: There were 1313 residential transactions
and $883,914,045 gross $ volume with 208 properties selling for $1M and
over-compared to 2016, there were 1220 transactions and $683,932,493 gross $
volume, 121 properties at $1M and over.
In 2015, there were 1184 transactions with $641,544,640 gross $ volume,
110 properties at $1M and over.
Top Lender Graph:
There were 478 loans in August, 63% (171) of the loans were related to sales,
there were 129 REFI's and 178 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 August in the Shock Hill subdivision. A Liftside Condo topped out the
highest PPSF at $939. There were no bank sales in August.
Foreclosures:
Actions were a bit up with 4 in August 2017 compared to 2 in August 2016. There
have been 35 Foreclosure actions filed YTD.
Purchaser Profile
Abstract: There were 40 upper end
sales in August compared to 29 in July. Our buyers for real estate transactions
in August were approximately Front Range demographic at 42% of our market, 25%
are "local" and 33% are out of state buyers with 0% International.
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)
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