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.
May 2017 Highlights
Market Analysis by
Area for May 2017: There were 197 transactions and $126,580,300 in monetary
volume. Some trends for all 18 reported areas in May: $656,989- Average
transaction price, $699,977- Average residential price and $431-PPSF.
Year to Date Market
Analysis (5 months): Monetary volume in 2017 totaled $527,002,912 with 818
transactions. $663,174- Average transaction price, $690,688-Average residential
price and $424-PPSF.
Market Snapshot for
Years 2017 vs 2016: Average
Indicators for $: Single Family +22%, Multi- Family +13% and Vacant Land +2%.
Median Indicators for $: Single Family +31%, Multi- Family +11% and Vacant Land
-3%.
Market Analysis %
Change YTD 2017: Monetary volume ($126,580,300) in May 2017 was 10% higher
than May 2016. Transactions (197) were flat to May 2016. YTD 2017, monetary volume is up by 25% and
transactions are up 11% compared to YTD 2016.
Residential Market
Sales by Price Point: Residential volume in May had 166 transactions with
$116,196,155 gross volume. There were 32 properties that sold for $1M and above
in May. The most active price points were between $300K-500K with 55
transactions. There were 55 Single Family, 111 Multi-Family and 14 Vacant Land
transactions in May.
Average Price History
by Type 2017: Average price for residential Single Family: $1,141,154,
Multi- Family: $463,956 and Vacant Land: $361,508.
Comparative
Historical Cost Analysis 2017 YTD: There were 678 residential transactions
and $468,286,153 gross $ volume with 127 properties selling for a $1M and
over-compared to 2016, there were 629 transactions and $361,529,783 gross $
volume, 88 properties at $1M and over.
In 2015, there were 596 transactions with $326,488,500 gross $ volume,
55 properties at $1M and over.
Top Lender Graph:
There were 568 loans in May, 75% (147) of the loans were related to sales,
there were 129 REFI's and 292 loans were timeshare related. 25% of the real
estate closings were cash transactions.
Market Highlights:
Please see page 10 of the Market Analysis- You can note the higher priced sale
in May in the Cottages at Shock Hill. One Ski Hill Place topped out the highest
PPSF at $1,171. There were 2 bank sales in May. There was a $3.5 sale mentioned
in the Summit Daily newspaper a few weeks ago. This sale was not officially
recorded in May. Please note that this sale should show up in next month’s
report from the Clerk and Recorder.
Foreclosures:
There were only 2 Notice of Election & Demands submitted in May.
Purchaser Profile
Abstract: There were 35 upper end
sales in May compared to 25 in April. Our buyers for real estate transactions
in May were approximately Front Range demographic at 36% of our market, 30% are
"local" and 34% are out of state buyers with almost 1% International.
Land Title New
Development Summary: This (page 16) shows all the new construction each
month with 12 in May (same as April 2017).
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)
