The Land Title Summit County Market Analysis

Screen shot 2016-01-24 at 5.45.18 PM December 2015 Year End Market Analysis

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. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source. You are welcome to utilize this link within your own websites.

December 2015 Highlights:

  • Market Analysis by Area for December: The last month of the year turned out to be a busy one with 276 transactions and $141,435,873 monetary volume. Average transaction price for all 18 reported areas: $512,449: Average residential price:$525,692: Average residential PPSF $372.
  • Market Analysis by Area YTD 2015 (12 months):  Final year Monetary volume was $1,372,793,984 with 2537 transactions.-Average transaction price: $543,881, average residential price: $546,678 and average PPSF: $348.
  • Market Snapshot for Years 2015 vs 2014:  Final 2015 values held strong and are as follows: Average Indicators for $: Single Family +9%, Multi- Family +12% and Vacant Land +17%. Median Indicators for $: Single Family +7%, Multi- Family +19% and Vacant Land +8%.
  • Market Analysis % Change Complete Full Year 2015 Data: Monetary volume ($141,435,873) in December was up +57% compared to December 2014. Number of transactions (276) were up 48% in December 2015 compared to December 2014. Full year 2015 Summit County real estate is up 30% in monetary volume and up 18% with number of transactions compared to full year 2014.
  • Residential Market Sales by Price Point: Residential volume in December had 230 transactions with $120,909,250 gross volume. There were 16 properties that sold for $1M and above in December.  The most active price points were again in the $200K-$300K range this month. There were 71 Single family, 159 Multi-family and 19 Vacant land transactions in December.  Full Year 2015, there were 678 Single family, 1422 Multi-family and 156 Vacant land residential transactions.
  • Full Year 2015 Average Price History: Average residential pricing continues to increase for 2015- Single Family: $855,925, Multi- Family:$399,232 and Vacant Land was $372,794, all up the past 4 years.
  • Historical Cost Breakdown for Full Year 2015: There have been 2100 residential transactions YTD and $1,148,024,568 volume with 198 properties selling for a $1M and over-compared to 2014, there were 1731 transactions and $858,667,681 gross volume, 126 properties at $1M and over and in 2013, there were 1563 transactions with $769,965,955 gross volume, 122 properties at $1M and over.
  • Top Lender Graph: There were 604 loans in December, 65% of the loans were related to sales, there were 131 REFI’s and 294 loans were timeshare related. 35% of the real estate closings were cash transactions. Full year 2015, the average for cash closings ended at 34%. The list of lenders and number of transactions for all the 5684 loans are listed in a link below.
  • Market Highlights: Please see page 10 of the Market Analysis-Higher priced sale in December (Shock Hill). There were no bank sales again in December.
  • Foreclosures: Foreclosure actions ended 2015 way down with only 63 on for the year, there were only 3 Foreclosure actions in December compared to 12 in December 2014.
  • Land Title Purchaser Highlights (Page 14): There were 20 higher end sales in December, similar to November’s 21 – you can see the details on this report. Full year 2015, our buyers for real estate transactions were the Front Range demographic at 40% of our market, 29% are local ( side note: which in part are  “retires” coming to Summit County) and 30% are out of state buyers, with 1% International. 
  • Land Title New Development Summary: This (page 15) shows all the new construction each month with 27 in December, 9 Town Centre Condos closed in December, the report also includes the Deed Restricted new construction which isn’t included on the other Residential reports.

Click here for the full Land Title Report.