February 2015 Highlights:
- Market Analysis by Area for February: So far this Winter brought 2 great months for real estate with $50,326,500 in monetary volume and 106 transactions in February.The average transaction price for all reported 18 areas: $480,784, average residential price: $486,266 and median residential price:
$412,000.The average PPSF was $345. Keystone was fairly busy for February with 22 transactions! - Market Analysis by Area YTD 2015 ( 2 months): YTD- monetary volume was $116,862,800 with 233 transactions. Average transaction price: $504,493, Average residential price: $532,023 and Average PPSF: $346.
- Market Snapshot for Years 2015 vs.2014: Values continue to be strong in 2015 and are as follows: Average Indicators for $: Single Family +4%, Multi- Family +15% and Vacant Land +17%. Median Indicators for $: Single Family +9%, Multi- Family +19% and Vacant Land +19%.
- Market Analysis % Change showing years 2004-2015 : Monetary volume ($50,326,500) in Februrary is up +25% compared to February 2014. Number of transactions up +28% in February 2015 compared to February 2014! YTD ( 2 months) Summit County real estate is up 26% in monetary volume and up 26% with number of transactions compared to YTD 2014. The February’s numbers are the highest in a February since 2008.
- Residential Market Sales by Price Point: Residential volume in February had 89 transactions with $43,277,700 gross volume. There were only 3 properties that sold for $1M and above in February. The most active price points were a mix in February-with 15 transactions below $200K, and the next price point that was busy was the $300K to $400K. There were 24 Single family, 65 Multi-family and 6 Vacant land transactions in February.
- YTD 2015 Average Price History: Average residential pricing continues to stay strong: Single Family- $817,736, Multi- Family-$409,886 and Vacant Land-$373,635. This graph on 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 for 2015: There have been 187 residential transactions in 2015 and $99,488,300 gross volume with 15 properties selling for a $1M and over- Compared to 2014- there were 150 transactions and $73,888,600 gross volume, 11 properties at $1M and over and in 2013, there were 153 transactions with $80,367,800 gross volume, 16 properties at $1M and over.
- Top Lender Graph: There were 407 loans in February, 65% (106) loans were related to sales, there were 122 REFI’s and 216 loans were timeshare related. 35% of the real estate closings were cash transactions.
- Market Highlights: Please see page 10 of the Market Analysis-Higher priced sales were sluggish in February with only 2 to note. There was also one Bank Sale in February. There was a sale at the Breckenridge Mountain Lodge in the Commercial sector for $2.6M, the PPSF was only $77.17.
- Foreclosures: Foreclosures continue to be very low again this month with only one PTD.
- Land Title Purchaser Highlights ( Page 14): There were 4 higher end sales in February to note- you can see the details on this report. In February, our buyers for real estate transactions were the Front Range demographic at 43% of our market, 24% are local and 32% are out of state buyers, with only 1% International.
Click HERE to view the full report