The following information is provided
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 2018 Highlights
Market Analysis by
Area for August 2018: There were a total of 319 transactions and
$235,727,859 in monetary volume. The average transaction price for all 18
reported areas, plus Deed Restricted transactions, was $780,910, average
residential price was $800,792 and average residential PSF was $479.
Year to Date Market
Analysis (8 months): Monetary volume in YTD 2018 totaled $1,107,208,955
with 1607 transactions: $712,821 average transaction price, $741,398 average
residential price and average residential PSF $465.
Market Snapshot for
Years 2018 vs 2017: Average
Indicators for $: Single Family +4%, Multi- Family +9% and Vacant Land +17%.
Median Indicators for Single Family +8%, Multi- Family +8% and Vacant Land
+16%.
Market Analysis %
Change 2018: Monetary volume ($) in August 2018 was up 38% from August
2017. Transactions (319) were up 17% from August 2017. YTD 2018 monetary volume is up 13% from YTD
2017, and transactions are down 12% YTD 2018 compared to YTD 2017.
Residential Cost
Analysis: Residential volume in
August had 250 transactions with $200,197,894 gross volume. There were 55
properties that sold for $1M and above in August. The most active price points
were between $300K-$400K with 42 transactions. There were 95 Single Family, 155
Multi-Family and 20 Vacant Land transactions.
Average Price History
by Type 2018: Average price for residential Single Family: $1,129,643,
Multi- Family: $517,965 and Vacant Land: $377,561.
Comparative
Historical Cost Analysis YTD 2018: There were 1273 residential transactions
and $943,799,378 gross $ volume with 234 properties selling for $1M and
over-compared to 2017, there were 1313 transactions and $883,914,045 gross $
volume, 208 properties at $1M and over.
In 2016, there were 1220 transactions with $683,932,493 gross $ volume,
121 properties at $1M and over.
Top Lender Analysis
August 2018: There were 542 loans in August 67% (215) of the loans were
related to sales, there were 139 REFI's and 188 loans were timeshare related.
33% of the real estate closings were cash transactions.
Market Highlights:
Please see page 11 of the Market Analysis- You can note the higher priced sale
in August in the Timber Trail area at $4,500,000. The top priced PSF in the
Shock Hill Landing area at $1,083.
Foreclosures: There were 3 Foreclosure actions taken in
August compared to 4 last August 2017. A total of 56 Foreclosure actions have
been filed YTD, with 42 of those being Timeshares.
Purchaser Profile Abstract:
There were 61 upper end sales in August compared to 38 in July. Our
buyers for real estate transactions for 2018: Front Range demographic at 35% of
our market, 30% are "local" and 35% are out of state buyers with 0%
International.
Land Title New Development Summary: This (page 18) shows all
the new construction each month, which doubled in August with 40 compared to 20
in July.
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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