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 2018 Market Highlights
Market Analysis by
Area for October 2018: There were a total of 236 transactions and
$182,673,300 in monetary volume. The average transaction price for all 18
reported areas, plus Deed Restricted transactions, was $812,344, average
residential price was $818,498 and average residential PSF was $481.
Year to Date Market
Analysis (10 months): Monetary volume in YTD 2018 totaled $1,451,784,955
with 2102 transactions: $717,060 average transaction price, $748,403 average
residential price and average residential PSF $469.
Market Snapshot for
Years 2018 vs 2017: Average
Indicators for $: Single Family +5%, Multi- Family +9% and Vacant Land +14%.
Median Indicators for Single Family +7%, Multi- Family +10% and Vacant Land
+18%.
Market Analysis %
Change 2018: Monetary volume ($182,673,300) in October 2018 was down 14%
from October 2017. Transactions (236) were down 27% from October 2017. YTD 2018 monetary volume is up 7% from YTD
2017, and transactions are now down 2% YTD 2018 compared to YTD 2017.
Residential Cost
Analysis: Residential volume in
October had 193 transactions with $157,970,200 gross volume. There were 37
properties that sold for $1M and above in October. The most active price points were between
$300K-$500K with 60 transactions. There were also quite a few transactions in
October between the price points of $500K-$600K with 28 transactions. There
were 75 Single Family, 118 Multi-Family and 12 Vacant Land transactions.
Average Price History
by Type 2018: Average price for residential Single Family: $1,298,937,
Multi- Family: $513,135 and Vacant Land: $367,042.
Comparative
Historical Cost Analysis YTD 2018: There were 1662 residential transactions
and $1,243,846,478 gross $ volume with 309 properties selling for $1M and over.
YTD 2017, there were 1810 residential transactions and $1,226,952,645 gross $
volume with 287 properties selling for over $1M. YTD 2016, there were 1692
transactions with $964,853,906 gross $ volume with 175 properties selling for
over $1M.
Top Lender Analysis
October 2018: There were 529 loans in October. 72% of purchasers closing
with financing at the time of the sale, there were 110 REFI's and 248 loans
were timeshare related. 28% of the real estate closings were cash transactions.
Foreclosures: There were 4 Foreclosure actions taken in
October compared to 3 last October 2017.
Purchaser Profile
Abstract: There were 41 upper end
sales in October 2018 compared to 40 in September 2018. Our buyers for real
estate transactions for 2018: Front Range demographic at 42% of our market, 28%
are "local" and 31% 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)
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