2013 Year End Market Analysis

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 and Year End 2013 Highlights:

• Market Analysis by Area for December: Gross volume was weaker than last December 2012 at $69,685,806 and only 132 transactions.  However the averages were all up from last month with the transaction price for all 18 reported areas at $534,666, average residential price was $530,510  and the median residential price was $436,000. The average residential PPSF was $302.
• Year to Date by Area ( 12 months):  There have been 1908 real estate transactions in 2013, and $888,858,406 in gross volume. The average transaction price for all recorded transactions in 2013: $471,164- Average residential price : $492,621-Median residential price : $380,000 and Average residential PPSF $300. 
• Market Snapshot for 2013:  Values are as follows: Single Family -2%, Multi- Family -2% and Vacant Land +5% for the Average, and Median are similar. In summary, Summit's residential prices are fairly flat to 2012. 
• Market Analysis % Change showing years 2004-2013: December monetary volume ($69,685,806) was down 20% from December  2012. Transactions (132) were down 29% from December 2012.  Overall, for 2013, Summit County pulled ahead by 15% monetary ($888,858,406) and ahead 17% with transactions (1908) from 2012.  2013 had the most transactions since 2007 and monetary volume since 2008.
• Residential Market Sales by Price Point : Residential volume in December had 113 transactions with $59,947,655 gross volume.  There were 11 properties that sold for $1M and above in December.  The most active price points in December continue to be between $200K -$300K.   December had 45 Single family, 68 Multi-family and 6 vacant land transactions. The 2013 year shows 569 Single family, 994 Mulit-Family and 118 Vacant Land transactions.
• 2013 Average Price History: Average residential pricing is reasonably strong for all three sectors for the full  2013 year- Single family is $751,240, Multi- family is $344,578  and Vacant Land is $324,137. 
• Historical Cost Breakdown 2013 : There were 1563 residential transactions in  2013 and $769,965,955 gross volume with 122 properties $1M and over.  In  2012, there were 1314 transactions and $673,545,600 gross volume, 106 properties at $1M and over and in 2011, there were 1176 transactions with $598,530,900 gross volume, 101 properties at $1M and over. 
• Top Lender Graph and 2013 Lender Highlights: There were 303 loans in December, 61% (81) loans were related to sales and 39% of the sales were cash at closing. There were 143 REFI's and 79 loans related to Timeshares. The 2013 year indicated that 39% of all the real estate sales transactions were cash on average. There were a total of 2653 Refis in 2013, 3136 Timeshare loans and 1171 actual loans related to sales transactions.
• Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in December and the bank sales (2) from December 2013.
• Bank Sales and Foreclosures: There were a total of 22 Foreclosure actions in December 2013, compared to 24 in December 2012. This year's actions were mostly for timeshares ( 86). 2013 indicated 92 Public Trustee's Deeds compared to 165 in 2012. Foreclosures are significantly down from the past 3 years.
• Land Title Purchaser Highlights ( Page 15):  There were 13 higher end sales in December- you can see the details on this report.  In 2013, the majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 40% of our market, only 26% are local and 33% are out of state buyers YTD.

To View The Complete Report Please Click Here

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    

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

       

"Your Guide to Summit County Real Estate."

Certified Negotiation Expert (CNE)

Short Sale and Foreclosure Representative (SFR)

November 2013 Market Report

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.   

November 2013 Highlights:

·                         Market Analysis by Area for November: Gross volume is still strong in 2013 with $80,099,800 in sales and transactions at 170, not bad for November in Summit County! The average transaction price for all 18 reported areas was $472,247, average residential price was $454,839 and the median residential price was $384,000. The average residential PPSF was $290.

·                         Year to Date by Area (11 months):  There have been 1776 real estate transactions to date, and $819,172,600 gross volume. The average transaction price YTD: $466,442- Average residential price YTD: $489,668-Median residential price YTD: $380,000- Average residential PPSF $300. 

·                         Market Snapshot YTD (11 months) for 2013:  Prices continue to hold with average single family at a 2% decrease ($748,476 YTD November from full year 2012 $764,455) and multi-family at a decrease of 2% YTD ( $343,215 in November YTD from full year $353,339). Vacant land continues to increase with at 6% ($329,350 YTD November from $309,512 full year 2012).  If you view the median prices on the chart below on page 4 of the Analysis- you will see that the trends vary with single family at down by 2%, multi- family was actually down 5% and vacant land down 9%.

·                         Market Analysis % Change showing years 2004-2012: November monetary volume ($80,099,800) was up 20% from November 2012. Transactions are also up by 10% from November 2012.  Overall, for the past 11 months of 2013, Summit County is still pacing ahead by 19% monetary ($819,172,600) and ahead 23% with transactions (1,776). November 2013 is the most positive November that we have experienced since 2007 with both monetary and number of transactions.

·                         Residential Market Sales by Price Point: Residential volume in November had 137 transactions with $62,313,000 gross volume.  There were 7 properties that sold for $1M and above in November.  The most active price points in November were once again between $200K -$300K.   November had 49 single family, 88 multi-family and 6 vacant land transactions.

·                         2013 Average Price History: Average residential pricing is holding strong for all three sectors- single family is $748,476 YTD, multi- family is $343,215 YTD and vacant land is $329,350 YTD.

·                         Historical Cost Breakdown 2013 ( 11 months): There were 1450 residential transactions so far in 2013 and $710,018,300 gross volume with 111 properties $1M and over.  YTD 2012, there were 1162 transactions and $595,971,800 gross volume, 94 properties at $1M and over and YTD 2011, there were 1061 transactions with $543,578,200 gross volume, 93 properties at $1M and over. 

·                         Top Lender Graph: There were 556 loans in November 69% (117) loans were related to sales and 31% of the sales were cash at closing. There were 113 REFI's and 326 loans related to Timeshares.

·                         Market Highlights: Please see page 10 of the Market Analysis- this also shows the bank sales (2) from November 2013.

·                         Bank Sales and Foreclosures: There were a total of 10 Foreclosure actions in November, compared to 31 in November 2012. Half of the 10 this November were Timeshare related. There have been a total of 212 Foreclosure actions this year with only 89 making it all the way to PTD.

·                         Land Title Purchaser Highlights ( Page 15):  There were 10 higher end sales in November- you can see the details on this report. A majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 40% of our market, only 26% are local and 33% are out of state buyers YTD.

Click Here to View the Complete Report

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    

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

        

"Your Guide to Summit County Real Estate."

Certified Negotiation Expert (CNE)

Short Sale and Foreclosure Representative (SFR)

October 2013 Market Report

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.   

October 2013 Highlights:

Market Analysis by Area for October: Gross volume was the best so far in 2013 with $110.9 M in sales and transactions were the second best with 241, a tiny bit lower than September. The average transaction price for all 18 reported areas is up from September at $461,091, average residential price was about the same as September at $473,531 and the median residential price was down a little from September at $362,500. The average residential PPSF was $303.

Year to Date by Area ( 10 months):  There have been 1606 real estate transactions to date, and $739,072,800 gross volume. The average transaction price YTD: $465,820 average residential price YTD: $493,302 median residential price YTD: $379,000 median residential price and YTD: average residential PPSF $301. 40% of all the real estate transactions are in between the Farmer's Corner to Blue River sections- Breckenridge, 12% Keystone, 11% Frisco and 9% Silverthorne in October.

Market Snapshot YTD ( 10 months ) for 2013:  Prices continue to hold with average single family at a 1% decrease ($757,052 YTD October from full year 2012 $764,455) and multi-family was down a little in October YTD 2013 at -3% ( $343,802 in October YTD from full year $353,339). Vacant land continues to increase with a 7% increase ($329,891 YTD October from $309,512 full year 2012).  If you view the median prices on the chart below on page 4 of the Analysis- you will see that the trends vary with single family at 0% increase, multi- family was actually down 5% and vacant land down -15%.

Market Analysis % Change showing years 2004-2012: October monetary volume ($110,993,800) was up 6% from October 2012. Transactions are also up by 5% from October 2012.  Overall, for the past 10 months of 2013, Summit County is pacing ahead by 19% monetary ($739,272,800) and ahead 25% with transactions (1,606). October 2013 shows the best monetary volume (In the past Octobers) since October 2008 and the most transactions since October 2007.

Residential Market Sales by Price Point: Residential volume in October had 209 transactions with $98,968,000 gross volume.   There were 15 properties that sold for $1M and above in October.  The most active price points in October were once again between $200K -$300K.   October had 67 single family, 142 multi-family and 13 vacant land transactions.

2013 Average Price History: Average residential pricing is holding strong for all three sectors- single family is $757,052 YTD, multi- family is $343,802 YTD and vacant land is $329,891 YTD.

Historical Cost Breakdown 2013 ( 10 months): There were 1313 residential transactions so far in 2013 and $647,705,300 gross volume with 104 properties $1M and over.  YTD 2012, there were 1029 transactions and $534,528,200 gross volume, 88  properties at $1M and over and YTD 2011, there were 947 transactions with $490,768,400 gross volume, 84  properties at $1M and over. 

Top Lender Graph: There were 490 loans in October. 67% ( 162) loans were related to sales and 33% of the sales were cash at closing. There were 174 REFI's and 154 loans related to Timeshares.

Market Highlights: Please see page 10 of the Market Analysis- this also shows the bank sales (2) from October 2013.

Bank Sales and Foreclosures: Foreclosure actions are way down again in October, with a total of 12 actions recorded in October 2013 as compared to 26 in October 2012. Foreclosure actions for 2013 are looking to be down around 50% from last year.

Land Title Purchaser Highlights:  There were quite a number of higher end sales in October- you can see the details on this report. A majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 39% of our market, only 26% are local and 34% are out of state buyers YTD.

                                                  Click Here to View the Full Report:

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  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”

September 2013 Market Analysis

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  

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September 2013 Highlights:

·                         Market Analysis by Area for September: September in Summit County was the best month so far in 2013.   There were 244 real estate transactions with $106,508,200 gross volume. The average transaction price for all 18 reported areas was down from August at $440,156, average residential price down a notch from August at $473,383 and the median residential price up a bit from August at $385,000. The average residential PPSF is up from August at $320.

·                         Year to Date by Area ( 9 months):  The third quarter of 2013 continues to be on the upswing from the past several years. There have been 1365 real estate transactions to date, and $628,279,000 gross volume. The average transaction price YTD: $466,668, average residential price YTD: $497,045, median residential price YTD: $380,000 and average residential PPSF YTD: $300. 40% of all the real estate transactions are in between the Farmer's Corner to Blue River sections, 12% Keystone, 12% Frisco and 10% Silverthorne in September.

·                         Market Snapshot YTD ( 9 months ) for 2013:  Prices continue to stabilize with average single family at a 1% decrease ($755,437 YTD September from full year 2012 $764,455) and multi-family was down a little in September YTD 2013 at -2% ( $345,573 in September YTD from full year $353,339). Vacant land continues to increase with a 6% increase ($328,417 YTD September from $309,512 full year 2012).  If you view the median prices on the chart below on page 4 of the Analysis- you will see that the trends vary with single family at 0% increase, multi- family was actually down 3% and vacant land down -15%.

·                         Market Analysis % Change showing years 2004-2012: September monetary volume ($106,508,200) was up 21% from September 2012. Transactions are also up by 54% from September 2012.  Overall, for the past 9 months of 2013, Summit County is pacing ahead by 22% monetary ($628,279,000) and ahead 29% with transactions (1365). September 2013 shows the best monetary volume since September 2008 and the most transactions since September 2007.

·                         Residential Market Sales by Price Point : Residential volume in September had 201 transactions with $95,149,900 gross volume.   There were 13 properties that sold for $1M and above in September.  The most active price points in September were between $200K -$300K.   September had 71 single family, 130 multi-family and 15 vacant land transactions.

·                         2013 Average Price History: Average residential pricing for single family is $755,437 YTD, multi- family is $345,573 YTD and vacant land is $328,417 YTD.  All of the average residential prices are up in September 2013 from last month.

·                         Historical Cost Breakdown 2013 ( 9 months): There were 1104 residential transactions so far in 2013 and $548,737,300 gross volume with 89 properties $1M and over.  YTD 2012, there were 839 transactions and $441,357,700 gross volume, 74 

properties at $1M and over and YTD 2011, there were 811 transactions with $427,985,100 gross volume, 77 properties at $1M and over. 

·                         Top Lender Graph: There were 468 loans in September. 58% of sales had corresponding loans recorded at closing and 42% of the sales were cash at closing. There were 151 REFI's and 175 loans related to Timeshares.

·                         Bank Sales and Foreclosures: Foreclosure actions continue the decline, with a total of 11 actions recorded in September 2013 as compared to 36 in September 2012. There have only been 190 Foreclose actions recorded through the 3rd Quarter for 2013 which is a level that predates the recession.

·                         Land Title Purchaser Highlights ( Page 15): A majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 398 of our market, only 27% are local and 34% are out of state buyers YTD.

Click Here to View the Full Report

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    

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

      

"Your Guide to Summit County Real Estate."

Certified Negotiation Expert (CNE)

Short Sale and Foreclosure Representative (SFR)

August 2013 Market Analysis

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. 

August 2013 Highlights:

·         Market Analysis by Area for August: August was an incredible month for real estate transactions and monetary volume in Summit County with 216 real estate transactions with $105,465,200 gross volume. The average transaction price for all 18 reported areas was up from July at $496,905, average residential price down a notch from July at $492,524 and the median residential price up a bit from July at $380,000. The average residential PPSF is up from July at $312.

·          Year to Date by Area ( 8 months):  The third quarter of 2013 continues to be very positive. There have been 1121 real estate transactions to date, and $521,770,800 gross volume. The average transaction price YTD: $472,487, average residential Price YTD: $502,312, median residential price YTD: $380,000 and average residential PPSF YTD: $296.  39% of all the real estate transactions are in between the Farmer's Corner to Blue River sections, 12% Keystone, 11% Frisco and 10% Silverthorne in August.

·         Market Snapshot YTD ( 8 months ) for 2013:  Values are showing a stable trend with the average single family at a 1% increase ($770,858 YTD August from full year 2012 $764,455) and multi-family decreased again as August YTD 2013 at -3% ( $342,417 in August YTD from full year $353,339). Vacant land also holds steady with a 12% increase ($347,101 YTD August from $309,512 full year 2012).  If you view the median prices on the chart below on page 4 of the Analysis- you will see that the trends vary with single family at 0% increase, multi- family was actually down 3% and vacant land down -15% ( all the same as July except single family).

·          Market Analysis % Change showing years 2004-2012: August monetary volume ($105,465,200) was up 53% from August 2012. Transactions are also up by 36% from August 2012 (216).  Overall, for the past 8 months of 2013, Summit County is pacing ahead by 22% monetary ($521,770,800) and ahead 25% transaction wise (1,121).  August was the best gross volume month since September 2008 and the best transaction month since October 2012.

·         Residential Market Sales by Price Point : Residential volume in August had 181 transactions with $89,146,900 gross volume.   There were 16 properties that sold for $1M and above in August.  The most active price points in August were up a bit from July and the other 2013 months with the majority between $300k-$400k. August had 63 single family, 118 multi-family and 10 vacant land transactions.

·          2013 Average Price History: Average residential pricing for single family is $770,858 YTD, multi- family is $342,417 YTD and vacant land is $347,101 YTD. 

·          Historical Cost Breakdown 2013 ( 8 months): There were 903 residential transactions so far in 2013 and $453,587,400 gross volume with 76 properties $1M and over.  YTD 2012, there were 716 transactions and $365,285,000 gross volume, 56 properties at $1M and over and YTD 2011, there were 670 transactions with $353,536,800 gross volume, 67 properties at $1M and over. Both number of residential transactions and monetary volume in 2013 show an upswing in our local real estate market.

·          Top Lender Graph: Lender activity in August- 659 Deeds of Trust were recorded. There was a 62% loan to sales ratio this month and 38% of the transactions were cash in August.  There were 212 REFI's and 314 loans related to Timeshares.

·          Market Highlights: Please see page 10 of the Market Analysis- this also shows the Bank Sale ( only one again) from August 2013.

·         Bank Sales and Foreclosures: Foreclosure actions continue the decline, with a total of 12 actions recorded in August 2013 as compared to 55 in August 2012. Overall, Summit County Foreclosure actions are the lowest since 2009, when Land Title started tracking these transactions.

Click Here To View The Entire Report

As always, 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    

Web: www.tylermacguire.com

Blog: www.tylermacguire.blogspot.com

  

"Your Guide to Summit County Real Estate."

Certified Negotiation Expert (CNE)

Short Sale and Foreclosure Representative (SFR)

July 2013 Market Update

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.  

July 2013 Highlights

·                         Market Analysis by Area for July: July was the second best month so far in 2013 with 155 real estate transactions with $68,971,900 gross volume. The Average Transaction Price for all 18 reported areas was at $452,764, Average Residential Price: $498,670 and the Median Residential Price: $375,000 all up from June 2013. The Average Residential PPSF is down from June at $229.

·                         Year to Date by Area ( 7 months):  There have been 905 real estate transactions to date, and $416,305,600 Gross Volume. The Average Transaction Price YTD: $466,644, Average Residential Price YTD: $504,765 Median Residential Price YTD: $380,000 and Average Residential PPSF YTD: $292.  48% of all the real estate transactions are in between the Farmer's Corner to Blue River sections, 11% Keystone, 11% Frisco and 10% Silverthorne this month.

·                         Market Snapshot YTD ( 7 months ) for 2013:  Values are holding with the Average Single Family at a 1% increase ($774,356 YTD July from Full Year 2012 $764,455) and Multi-Family decreased again as July YTD 2013 at -4% ( $339,882 in July YTD from Full Year $353,339). Vacant Land also holds steady with a 1% increase ($311,640 YTD July from $309,512 Full Year 2012).  If you view the Median Prices on the chart below on page 4 of the Analysis- you will see that the trends vary with Single Family at 1% increase, Multi- Family was actually down 3% and Vacant Land down -15%.

·                         Market Analysis % Change showing years 2004-2012: July monetary volume ($68,971,900) was up 9% from July 2012. Transactions are also up by 23% from July 2012 (155).  Overall, for the past 7 months of 2013, Summit County is pacing ahead by 17% monetary ($416,305,600) and ahead 23% transaction wise (905).

·                         Residential Market Sales by Price Point : Residential volume in July had 121 transactions with $60,339,100 gross volume ( up a little from June 2013).  There were only 8 properties that sold for $1M and above in July.  The most active price points in July were between $200k-$400k. July had 40 Single Family, 81 Multi-Family and 10 Vacant Land transactions.

·                         2013 Average Price History: Average Residential pricing for Single family is $774,356 YTD, Multi- family is $339,882 YTD and Vacant Land is $311,640 YTD ( all up from June 2013). This graph on page 7 demonstrates how well our market has held it's value over all these years!

·                         Historical Cost Breakdown 2013 ( 7 months): There were 722 residential transactions so far in 2013 and $364,440,500 gross volume with 60 properties $1M and over.  YTD 2012, there were 587 transactions and $304,266,925 gross volume, 45 properties at $1M and over and YTD 2011, there were 552 transactions with $292,699,800 gross volume, 55 properties at $1M and over. Both number of Residential transactions and monetary volume indicate an upswing in our local real estate market!

·                         Top Lender Graph: Lender activity was interesting in July with 543 Deeds of Trust recorded. There was a 51% loan to sales ratio this month and 49% of the transactions were cash in July! There were 240 REFI's and 224 loans related to Timeshares.

·                         Market Highlights: Please see page 10 of the Market Analysis- this also shows the Bank Sales ( only one for an high end property) from July 2013.

·                         Bank Sales and Foreclosures: Foreclosure actions are down again, with a total of 27 actions recorded in July 2013 as compared to 32 in July 2012. YTD in 2013, there have been 72 of the Foreclosure actions have made it all the way to PTD.

·                         Land Title Purchaser Highlights ( Page 15): A majority of our second homeowners for real estate transactions continue to be the Front Range Demographic at 40% of our market, 28% are local and 32% are Out of State buyers YTD.

                                                Click here to view the complete report.

As always, feel free to call or email 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”