The following data 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 2017 Market Highlights
•Market Analysis by
Area for October 2017: The month of October was busy! There were a
total of 332 transactions, and $213,311,500 in monetary volume. The average
transaction price for all 18 reported areas, plus Deed Restricted transactions,
was $666,636, average residential price was $690,970 and average residential
PPSF was $441.
•Year to Date Market
Analysis (10 months): Monetary volume in YTD 2017 totaled $1,354,271,268
with 2147 transactions: $644,455 average transaction price, $677,874 average residential
price and average residential PPSF $427.
•Market Snapshot for
Years 2017 vs 2016: Average
Indicators for $: Single Family +16%, Multi- Family +13% and Vacant Land -3%.
Median Indicators for Single Family +18%, Multi- Family +13% and Vacant Land
-9%.
•Market Analysis %
Change YTD 2017: Monetary volume ($213,311,500) in October 2017 was up 43%
from October 2016. Transactions (322) were up 22% from October 2016. YTD 2017, monetary volume is up by 23% and
transactions are up 7% compared to YTD 2016.
•Residential Market
Sales by Price Point: Residential volume in October had 291 transactions
with $201,072,200 gross volume. There were 43 properties that sold for $1M and
above in October. The most active price points were between $400K-$500K with 49
transactions. There were a higher number of transactions (21) that fell between
the prices of $1M to $1.5M in October. There were 92 Single Family, 199
Multi-Family and 19 Vacant Land transactions in October.
•Average Price
History by Type 2017: Average price for residential Single Family:
$1,087,922, Multi- Family: $464,760 and Vacant Land: $344,447.
•Comparative
Historical Cost Analysis 2017 YTD: There were 1,810 residential transactions
and $1,226,952,645 gross $ volume with 287 properties selling for $1M and
over-compared to 2016, there were 1,692 transactions and $964,853,906 gross $
volume, 175 properties at $1M and over.
In 2015, there were 1,691 transactions with $926,899,418 gross $ volume,
164 properties at $1M and over.
•Top Lender Graph:
There were 595 loans in October 68% (218) of the loans were related to sales,
there were 143 REFI's and 234 loans were timeshare related. 32% 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 Shock Hill subdivision. Also, a Shock Hill property was the
highest PPSF at $967. There were no bank sales in October.
•Foreclosures:
Actions were down with 3 in October, compared to 4 in October 2016. There have
been a total of 41 Foreclosure actions YTD.
•Purchaser Profile
Abstract: There were 46 upper end
sales in October. Our buyers for real estate transactions in October were
approximately Front Range demographic at 46% of our market, 22% are "local"
and 32% are out of state buyers with 1% International.
•Land Title New
Development Summary: This (page 16) shows all the new construction each
month, there were 33 in October compared to 23 in September. Rivers Edge Condos
and Summit Sky Ranch units continued to close in October.
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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