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.
April 2014 Highlights:
·
Market Analysis
by Area for April: There were
117 transactions with $59,517,300 in gross monetary volume.
The average transaction price for all 18 reported areas
at $508,695, average residential price was $552,308 and
the median residential price was $447,500. The average residential
PPSF was $327. Median averages continue to increase each month in
2014.
·
YTD Transaction
Summary: There have been a total of 421
transactions with $212,850,800 monetary volume, the average transaction
price for all 18 reported areas is $508,770, the average residential
price is $520,678, the median residential price is $405,000 and the average
PPSF is $321 YTD.
·
Market Snapshot
for 2014 vs. 2013: Values
are as follows: Average Indicators- Single Family +13%, Multi-
Family +9% and Vacant Land +18%. Median indicators: Single
Family +7%, Multi- Family +34% and Vacant Land +49%. These indicators
translate into escalating pricing in Summit County for 2014.
·
Market Analysis
% Change showing years 2004-2014 YTD: April monetary volume
($59,517,300) is down 7% from April 2013, transaction volume is
down -13% from April 2013. 2014 YTD
(4 months) monetary volume is up 4% from YTD 2013. YTD 2014
transaction volume is down -7% down from YTD 2013. Inventory is low
in Summit County compared to years past, you can see that YTD pricing is
stronger with less transactions.
·
Residential
Market Sales by Price Point: Residential
volume in April had 99 transactions with $54,678,500 gross
volume. There were 11 properties that sold for $1M and
above in April. The most active price point in April stayed
in $400K -$500K range which is higher than years and months past. April
had 34 Single family, 65 Multi-family and 6 vacant land
transactions.
·
2014 Average
Price History: Average residential pricing
continues to be highly consistent as of April - Single family
increased to $846,385, Multi- family is $377,100 and vacant
land is $382,707.
·
Historical Cost
Breakdown YTD 2014 : There
have been 353 residential transactions YTD 2014 and
$183,799,2003 gross volume with 31 properties $1M - Compared
to 2013 YTD, there were 357 transactions and $176,280,200 gross
volume, 26 properties at $1M and over and in 2012 YTD, there were 297
transactions with $154,769,600 gross volume, 26 properties at $1M and
over.
·
Top Lender
Graph: There were 475 loans in April, 52%
(61) loans were related to sales and 48% of the sales were cash at closing.
There were 76 REFI's and 338 loans related to Timeshares.
·
Market
Highlights: Please see page 10 of the
Market Analysis-View the higher priced purchases in April and another month
with no bank sales.
·
Bank Sales and
Foreclosures: Foreclosures
continue to decline with 8 actions filed in April versus 24 in April
2013
·
Land Title
Purchaser Highlights (Page 15): There were 12 higher end sales in April to note- you can see
the details on this report. In April, the majority of our
buyers for real estate transactions continue to be the Front Range demographic
at 37% of our market, only 22% are local and 38% are out of state
buyers.
As always, please feel free to call or email 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)
Short Sale and Foreclosure Representative (SFR)
