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.
November 2018 Highlights
Market Analysis by
Area for November 2018: There were a total of 227 transactions and
$153,815,804 in monetary volume. The average transaction price for all 18
reported areas, plus Deed Restricted transactions, was $695,543, average
residential price was $744,204 and average residential PSF was $478.
Year to Date Market
Analysis (11 months): Monetary volume in YTD 2018 totaled $1,605,600,759
with 2329 transactions: $714,933 average transaction price, $747,983 average
residential price and average residential PSF $470.
Market Snapshot for
Years 2018 vs 2017: Average
Indicators for $: Single Family +5%, Multi- Family +10% and Vacant Land +13%.
Median Indicators for Single Family +7%, Multi- Family +9% and Vacant Land
+17%.
Market Analysis %
Change 2018: Monetary volume ($153,815,804) in November 2018 was up 1% from
November 2017. Transactions (227) were down 1% from November 2017. YTD 2018 monetary volume is up 7% from YTD
2017, and transactions are down 2% YTD 2018 compared to YTD 2017.
Residential Cost
Analysis: Residential volume in
November had 185 transactions with $137,677,700 gross volume. There were 40
properties that sold for $1M and above in November. The most active price points were between
$300K-$400K with 36 transactions. There were 59 Single Family, 126 Multi-Family
and 19 Vacant Land transactions.
Average Price History
by Type 2018: Average price for residential Single Family: $1,175,439,
Multi- Family: $542,276 and Vacant Land: $317,974.
Comparative
Historical Cost Analysis YTD 2018: There were 1847 residential transactions
and $1,381,524,178 gross $ volume with 349 properties selling for $1M and over.
YTD 2017, there were 2010 residential transactions and $1,365,855,333 gross $
volume with 311 properties selling for over $1M. YTD 2016, there were 1921
transactions with $1,098,827,441 gross $ volume with 203 properties selling for
over $1M.
Top Lender Analysis
November 2018: There were 465 loans in November. 71% of purchasers closing
with financing at the time of the sale, there were 95 REFI's and 208 loans were
timeshare related. 29% of the real estate closings were cash transactions.
Foreclosures: There were no Foreclosure actions taken in
November, the same at the previous year. In total, there are 68 Foreclosure
actions so far in 2018.
Purchaser Profile
Abstract: There were 43 upper end sales
in November 2018 compared to 22 in October 2018. Our buyers for real estate
transactions for 2018: Front Range demographic at 47% of our market, 22% are
"local" and 30% are out of state buyers with 0% International. Please
note page 17 comparing demographics of our buyers through 2013.
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)
