Keystone Real Estate Update

The Keystone Real Estate Market has made a lot of progress throughout 2012 as well as recently.  The first three quarters of 2012 saw 126 transactions which is a 35.5% increase compared to 93 in the first three quarters of last year.  The average sales price of Keystone Real Estate has also risen 4.5% from $451,478 in the first three quarters of 2011 to $471,833 in the same time period this year.

More recently in Keystone Real Estate, September 2012 has demonstrated considerable growth compared to September 2011.  This September, transactions rose 35.3% from 17 last year to 23 this year.  Furthermore, the average sales price came up 9% from $511,465 last year to $557,283 this year.

As always, please feel free to contact me anytime with questions about Keystone Real Estate or Summit County Real Estate in general.  I look forward to hearing from you!

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”

Summit County Market Update Q1-Q3

Despite a drop in transactions for the month of September, the Summit County Real Estate  Market has maintained momentum through the end of the 3^rd quarter of 2012.  September 2012 saw the number of transaction fall 13.2% to 131 compared to 151 last September.  However, the average price in September of 2012 rose 13.7% from $524,886 last year to $597,039 this year!

The first three quarters of this year have also demonstrated significant growth compared to the same time period last year.  The number of transactions is up 13.2% from 770 to 872 and the average sales price rose 1.1% from $527,108 to $533,015! 

As always, please feel free to contact me anytime with questions, I look forward to hearing from you!

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”

August 2012 Market Update

           Well, we can add this August as yet another reason for optimism about the Summit County Real Estate Market.  The month of August saw 137 residential transactions which is a 32% increase from the 104 transaction in August 2011!  Furthermore, the average sales price rose 5% from $521,585 in August 2011 to $545,190 in August 2012!

           

            When comparing 2011 and 2012 year to date, there is reason for optimism as well.  Transactions have come up 20% from 619 through the end of August 2011 to 741 in 2012.  However, with over a years worth of inventory, the average sales price has remained relatively flat dropping 1% from $527,650 in 2011 to $521,697 this year.  Nevertheless, with transactions on the rise and many markets beginning to see appreciation, there is a lot of reason to think there are good things to come. 

           

            For a broader view of the current real estate market here are a few links to what the national news media has to say: 

"4 Signs The Housing Market is Improving"  -Forbes

"US Home Prices See Biggest Jump Since 2005" - The Wall Street Journal

If You Can Pull It Off, A House is a Smart Investment" -USA Today

As always, please feel free to contact me anytime at the information below.  I look forward to hearing from you.

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”

This information is based exclusively on data in the Summit County MLS.

July 2012 Market Report

Through the end of July, Summit County saw 603 residential transactions year to date with an average sales price of $517,082.  Compared to the same time period last year (521 transactions and an avg sales price of $525,731) this represents a 15.7% increase in transactions and a 1.6% decrease is in average sales price.

July 2012 saw 95 transactions with an average sales price of $493, 929.  When compared to July 2011 (90 transactions with an avg sales price of $437,745) this is a 5.6% increase in transactions and a 12.8% increase in sales price!

Looking at the national real estate market is also a cause for optimism as Forbes reports that "The Housing Market Turns Corner" and CNN Money reports "Home Values Rise for the First Time in Five Years"!!  As always, if you have any questions or would like to see this information presented in a different format, you can reach me anytime at the information below.

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”

Busiest Times of Year

 Many people have asked me when the busiest times of year are for Summit County Real Estate.  Although there are some exceptions to the rule, the year typically starts out slow and picks up pace through year end.  For example, here is a look at the number of closings per month from 2009-2011.  In these three years there were a combined total of 3,670 transactions and the chart below shows how they break down by month.

	# of transactions	% of annual
2009-2011	3670
January	172	4.70%
February	180	4.90%
March	239	6.50%
April	247	6.70%
May	290	7.90%
June	254	6.90%
July	259	7.00%
August	338	9.20%
September	436	11.90%
October	453	12.30%
November	401	10.90%
December	401	10.90%

It is important to understand that if the transactions were spread out equally you would see 305 transactions or 8.333% each month.  Any month that produces less than this number is displayed in red while the months that account for more than this appear in green.  Accordingly, any month with less than that could be considered a slow month and months with more than that could be considered busy.  It is interesting to note that the last five months of the year are generating 55.2% of the transactions while the fist seven months only account for 44.6%.  Lastly, it is important to remember that many transaction take 45 (sometimes more) days to close so, a closing in September may have gone under contract in July.

As always if you have questions or would like to see this information in a different format please feel free to contact me anytime at the information below.

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

          

“Your Guide to Summit County Real Estate”

Keystone Market Report

             In the first six months of the year Keystone saw 62 residential transactions compared to just 46 during the same time period in 2011.  Furthermore, the average sales price rose to $487,226 from $484,912 in the first half of 2011.  This represents a 35% increase in transaction and .5% increase in average sales price in the first two quarters of 2012 compared to 2011!!  Moreover, the average sales price in the first half of 2011 may be artificially inflated by a $2,195,000 sale.  By comparison the highest sales price in the first half of this year was about half that amount coming in at $1,225,000.

            Please feel free to contact me anytime with questions or if you would like to see this information in a different format.

All the best,

Tyler MacGuire  e-PRO®, SFR

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”

Q1 and Q2, 2012 Market Report

     Through the first two quarters of 2012 Summit County saw 506 residential transactions with an average sales price of $522,532.  This represents a 15% increase in transactions and 3.6% decrease in average sales price compared to the same time frame in 2011.

            

     When breaking the number of transactions down by price point the data is as follows:

• There were 106 transactions under $250,000 compared to 101 in 2011 (up 5%).

• There were 202 transactions between $250,000 and $500,000 compared to 170 in 2011 (up 19%).

• There were 166 transactions between $500,000 and $1,000,000 compared to 128 in 2011 (up 30%).

• There were 40 transactions over $1,000,000 compared to 46 in 2011 (down 13%).

As always, if you have and questions or would like to see this information in a different format, please feel free to contact me anytime at the information below.

All the best,

Tyler MacGuire  e-PRO®, SFR

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”