Land Title Guarantee Company June 2014 Market Analysis

Check out Land Title Guarantee Company June market analysis.  Below if a synopsis but click this link for the full report as well as informational graphs.  Land Title Guarantee Company June 2014 Market Analysis

June 2014 Highlights:

  • Market Analysis by Area for June: June was the second best month of 2014!  There were 148 transactions with $62,036,850 in gross monetary volume. The average transaction price for all 18 reported areas at $414,814, average residential price was $436,991 and the median residential price was $415,000. The average residential PPSF was $295.
  • YTD Transaction Summary: There have been a total of 743 transactions with $366,456,756 monetary volume, the average transaction price for all 18 reported areas is $493,166. The average residential price is $510,313. The median residential price is $405,000. The average PPSF is $316. Breckenridge ( between Blue River and Farmer’s Corner) holds 48% of the $ volume in Summit County.
  • Market Snapshot for YTD 2014 vs. 2013:  Values are as follows: Average Indicators for $: Single Family +8%, Multi- Family +6% and Vacant Land +10%. Median indicators for $: Single Family +7%, Multi- Family  +5% and Vacant Land +49%.  These indicators translate into the stabilizing pricing in Summit County for 2014.
  • Market Analysis % Change showing years 2004-2014 YTD:  June monetary volume ($62,036,850) is up 1% from June 2013, transaction volume (148) is up 6% from June 2013.  2014 YTD (6 months) monetary volume is still up 6% from YTD 2013. YTD 2014 transaction volume is still down by only -1% down from YTD 2013.  Inventory continues to be low in Summit County compared to years past.
  • Residential Market Sales by Price Point : Residential volume in June had 119 transactions with $52,001,950 gross volume.  There were only 6 properties that sold for $1M and above in June.  The most active price point in June hovered between $200K to $300K. However, the price point of $500K to $600K was much higher than months past with 24 transactions in that price range. There were 40 Single family, 79 Multi-family and 14 Vacant land transactions in June.
  • 2014 Average Price History: Average residential pricing continues to be highly consistent as of June – Single family is $808,086, Multi- family is at $363,564 and Vacant land is $357,573. This graph ( page 7) is a great piece to show your clients that our market has held it’s value over all these years.
  • Historical Cost Breakdown YTD 2014 : There have been 624 residential transactions YTD 2014 and $318,435,356 gross volume with 53 properties $1M – Compared to 2013 YTD, there were 601 transactions and $304,101,400 gross volume, 51 properties at $1M and over and in 2012 YTD, there were 490 transactions with $252,960,700 gross volume, 37 properties at $1M and over.
  • Top Lender Graph: There were 326 loans in June, 87 loans were related to sales at 59% of the 148 sales transactions and 41% of the sales were cash at closing. There were 117 REFI’s and 122 loans related to Timeshares.
  • Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in June with no bank sales.
  • Foreclosures:  There were 17 Foreclosure actions in June 2014 ( mainly from timeshares) compared to 20 in June 2013.
  • Land Title Purchaser Highlights ( Page 15):  There were 6 higher end sales in June to note- you can see the details on this report.  In June, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 42% of our market, only 23% are local and 34% are out of state buyers.