Want to know that the real estate market is doing in Summit County, CO? Check out the September Market Analysis published by Land Title
September 2014 Highlights:
- Market Analysis by Area for September: September indicated solid and strong market activity for Summit County real estate.There were a lot of upper end sales from out of state buyers that bumped up our gross volume. There were 272 transactions with $126,325,000 in gross monetary volume. The average transaction price for all 18 reported areas at $468,586, average residential price was up from last month, $506,337 and the median residential price was also up, $413,500. The average residential PPSFwas $311.The Keystone market was finally busy in September with 37 transactions.
- YTD Transaction Summary: There have been a total of 1413 transactions with $672,341,981 monetary volume, the average transaction price for all 18 reported areas is $476,785. The average residential price is $503,151. The median residential price is $405,000. The average PPSFremains at $312.
- Market Snapshot for YTD 2014 vs. 2013: Values remain steady and are as follows: Average Indicators for $: Single Family +3%, Multi- Family +4% and Vacant Land +4%.Median Indicators for $:: Single Family +5%, Multi- Family +7% and Vacant Land +70%. These indicators translate that the prices are still fairly stable to last year, increasing slightly especially the median price for vacant land in Keystone and Silverthorne this September.
- Market Analysis % Change showing years 2004-2014 YTD: September monetary volume ($126,325,000) is up 19% from September 2013, transaction volume (272) is up 7% from September 2013. 2014 YTD(9 months) monetary volume is up 11% from YTD 2013. YTD 2014 transaction volume is up by 4% from YTD 2013. This September had the most transactions since 2007!
- Residential Market Sales by Price Point : Residential volume in September had 236 transactions with $119,495,600 gross volume. There were 19 properties that sold for $1M and above in September. The most active price point in September was between the ranges of $300K to $400K, with $400K- $500K in second place. There were 84 Single family, 152 Multi-family and 14 Vacant land transactions in September.
- 2014 Average Price History: Average residential pricing continues to be consistent as of September – Single family is $774,644, Multi- family is at $359,727 and Vacant land is $338,479. 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 YTD 2014 : There have been 1189 residential transactions YTD 2014 and $598,737,300 gross volume with 91 properties selling for a $1M and over- Compared to 2013 YTD, there were 1104 transactions and $548,737,300 gross volume, 89 properties at $1M and over and in 2012 YTD, there were 842 transactions with $443,289,700 gross volume, 75 properties at $1M and over.
- Top Lender Graph: There were 591 loans in September, with 60% of the purchasers obtaining financing at the time of sale. 40% of the real estate closings were cash transactions. There were 1220 Refinances. 307 loans were related to Timeshare Sales.
- Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in September with the second month in 2014 with no bank sales
- Foreclosures: Foreclosure actions were down again with 7 in September. YTD there have been only 52 Public Trustees Deeds.
- Land Title Purchaser Highlights ( Page 15):There were 19 higher end sales in September to note- you can see the details on this report. In September, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 43% of our market, only 26% are local and 31% are out of state buyers. Again, out of state buyers were busy in September purchasing some higher end properties in Summit County!
