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.
December/Year End 2018
Market Highlights
Market Analysis by
Area for December 2018: There were a total of 178 transactions and
$143,100,728 in monetary volume. The average transaction price for all 18
reported areas, plus Deed Restricted transactions, was $816,769, average
residential price was $804,363 and average residential PSF was $459.
Year to Date Market
Analysis (12 months): Monetary volume in YTD 2018 totaled $1,748,701,487
with 2507 transactions: $722,436 average transaction price, $752,139 average
residential price and average residential PSF $469.
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 +10% and Vacant Land
+16%.
Market Analysis %
Change 2018: Monetary volume ($143,100,278) in December 2018 was down 6%
from December 2017. Transactions (178) were down 23% from December 2017. Full year 2018 monetary volume is up 5% from
2017, and transactions are down 4% in 2018 compared to 2017.
Residential Cost
Analysis: Residential volume in
December had 147 transactions with $118,241,300 gross volume. There were 32
properties that sold for $1M and above in December The most active price points were between
$500K-$600K with 19 transactions, also a burst in the price range of $1M -$1.5
with 19 transactions in December. There were 59 Single Family, 88 Multi-Family
and 16 Vacant Land transactions. The 2018 year had at total of 736 Single
Family, 1258 Multi- Family and 192 Vacant Land Residential transactions.
Average Price History
by Type in 2018: Average price for residential Single Family: $1,142,905,
Multi- Family: $523,519 and Vacant Land: $366,814.
Comparative
Historical Cost Analysis 2018: There were 1994 residential transactions and
$1,499,765,748 gross $ volume with 381 properties selling for $1M and
over. In 2017, there were 2185
residential transactions and $1,499,595,769 gross $ volume with 342 properties
selling for over $1M. In 2016, there were 2087 transactions with $1,210,067,633
gross $ volume with 225 properties selling for over $1M.
Top Lender Analysis
December and full year 2018: There were 389 loans in December. 68% of
purchasers closing with financing at the time of the sale, there were 87 REFI's
and 181 loans were timeshare related. 32% of the real estate closings were cash
transactions. In 2018, the number of real estate closings that were cash
averaged 33%.
Market Highlights: Please see page 11 of the Market Analysis-
You can note the higher priced sale in December in the Lewis Ranch area in
Copper at $3,500,000. The top priced PSF was in the Tyra area in Breckenridge
at $1,042.
Foreclosures: There were 4 Foreclosure actions taken in
December 2018 compared to 10 in December 2017. In total for 2018, there are 72
Foreclosure actions with 28 withdrawn at year-end.
Purchaser Profile
Abstract: There were 39 upper end
sales in December 2018 compared to 43 in November 2018. Our buyers for real
estate transactions for 2018: Front Range demographic at 42% of our market, 30%
are "local" and 28% are out of state buyers with 0% International.
As always, please feel free to contact me anytime with
questions. I looking 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)