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.
March 2019 Market
Highlights
Market Analysis by
Area for March 2019: There were a total of 135 transactions and
$101,948,344 in monetary volume. The average transaction price for all 18 reported
areas, plus Deed Restricted transactions, was $783,182, average residential
price was $854,771 and average residential PPSF was $479.
Market Analysis by
Area YTD 2019 3 Months: There was a total of $320,365,228 with 405
transactions. The average transaction price was $821,240, the average
residential price was $828,109 and the average PPSF was $474.
Market Snapshot for
Years 2019 vs 2018: Average
Indicators for $: Single Family +11%, Multi- Family +2% and Vacant Land -5%.
Median Indicators for Single Family +3%, Multi- Family +2% and Vacant Land flat
0%.
Market Analysis %
Change 2019: Monetary volume ($101,948,344) in March 2019 was up 18% from
March 2018. Transactions (135) were down 4% in from March 2018. YTD 2019 Monetary Volume is pacing 22% ahead
of YTD March 2018, and transactions are down 5%.
Residential Cost
Analysis: Residential volume in
March had 98 transactions with $83,767,577 gross volume. There were 21
properties that sold for $1M and above in March. The most active price points were between
$500K-$600K with 14 transactions. There were 46 Single Family, 52 Multi-Family
and 14 Vacant Land transactions.
Average Price History
by Type- YTD March 2019: Average price for residential Single Family:
$1,273,093, Multi- Family: $535,419 and Vacant Land: $349,600.
Comparative
Historical Cost Analysis Comparison 2019-2018 YTD: YTD 2019, there were 310
residential transactions and $256,713,796 gross $ volume with 69 properties
selling for over $1M. YTD 2018, there were 322 transactions with $229,269,563 gross $ volume with 54 properties selling for
over $1M. YTD 2017, there were 350 transactions with $246,609,560 with 70
properties selling for over $1M.
Top Lender Analysis
March 2019: There were 431 loans in March. 67% of purchasers closing with
financing at the time of the sale, there were 96 REFI's and 244 loans were
timeshare related. 33% of the real estate closings were cash transactions.
Market Highlights: Please see page 11 of the Market Analysis-
Note the the higher priced sale in March 2019 in the Shock Hill area in
Breckenridge at $4,800,000. The top priced PPSF was in the Basecamp Shops and
Residences in Frisco at $822.
Purchaser Profile
Abstract: There were 25 upper end
sales in March 2019 compared to 30 in February.
Our buyers for real estate transactions for March 2019: Front Range
demographic at 52% of our market, 24% are "local" and 24% are out of
state buyers with 0% International. Please note page 17 comparing demographics
of our buyers through 2013.
Land Title New
Development Summary: This (page 18) shows all the new construction each
month, there were 12 in March.
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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