April Market Analysis Summit County

Each month land title does a fantastic market analysis for Summit County.  If you are thinking about buying or selling, here is what you should know…

April 2015 Highlights:

  • Market Analysis by Area for April: April real estate in Summit County was a busy month! There was $92,373,585 in monetary volume and 153 transactions.The average transaction price for all reported 18 areas: $610,971, average residential $583,910, median residential $ 450,000 and average PPSF $327. Frisco and Wildernest areas were steady in April with 17% of the transactions each.
  • Market Analysis by Area YTD 2015 ( 4 months-first quarter of 2015): YTD- monetary volume was $292,294,885 with 535 transactions. Average transaction price: $551,762, average residential price: $550,699 and Average PPSF: $340. The Breckenridge areas make up 47% of the YTD transactions, Keystone ( 15%) and Frisco (11%) are also strong areas this spring.
  • Market Snapshot for Years 2015 vs.2014: Values continue to stay healthy and are as follows: Average Indicators for $: Single Family +11%, Multi- Family +9% and Vacant Land +32%. Median Indicators for $: Single Family +7%, Multi- Family +16% and Vacant Land +29%.
  • Market Analysis % Change showing years 2004-2015 : Monetary volume ($92,373,585) in April is up +55% compared to April 2014. Number of transactions(153) up +31% in April 2015 compared to April 2014. YTD ( 4 months) Summit County real estate is up 37% in monetary volume and up 27% with number of transactions compared to YTD 2014. This is the best April since 2008!
  • Residential Market Sales by Price Point: Residential volume in April had 125 transactions with $72,988,800 gross volume. There were 15 properties that sold for $1M and above in April. The most active price point was the $300K-$400K range. There were 47 Single family, 78 Multi-family and 9 Vacant land transactions in April.
  • YTD 2015 Average Price History: Average residential pricing continues the upward trend for 2015- Single Family- $873,006, Multi- Family-$389,545 and Vacant Land-$420,154. This graph is a great marketing tool to show the consistency and strength of our Summit Market over the years.
  • Historical Cost Breakdown for 2015: There have been 423 residential transactions YTD and $232,945,600 gross volume with 43 properties selling for a $1M and over- Compared to 2014- there were 353 transactions and $183,799,200 gross volume, 31 properties at $1M and over and in 2013, there were 357 transactions with $176,280,200 gross volume, 26 properties at $1M and over.
  • Top Lender Graph: There were 412 loans in April, 71% of the loans were related to sales, there were 165 REFI’s and 138 loans were timeshare related. 29% of the real estate closings were cash transactions down from the past months.
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sales in April with only one to note at Dercum’s Dash in Keystone. There was one bank sale in April.
  • Foreclosures: Foreclosures are still dropping with 5 filed actions in April compared to 8 in April 2014.
  • Land Title Purchaser Highlights ( Page 14): There were 21 higher end sales in April – you can see the details on this report. In April, our buyers for real estate transactions were the Front Range demographic at 41% of our market, 31% are local and 28% are out of state buyers, with 1% International.
  • Land Title New Development Summary- this (page 15) shows all the new construction each month including the Deed Restricted new construction which isn’t included on the other Residential reports.