Brought to you by: Century 21 Gold, The Smits Team
Courtesy of: Land Title Guarantee Company
December & 2014 Year End Highlights:
- Market Analysis by Area for December: December was a positive month with $79,465,900 in monetary volume and 174 transactions.The average transaction price for all reported 18 areas was $462,958, average residential price was $489,388 and median residential price was $380,000.The average PPSF was $322.
- Full Year 2014 Transaction Summary: There have been a total of 2042 transactions with just short of a Billion in Sales at $962,569,581 in monetary volume. 2014 was comparable with the numbers in 2008. It seems that the Summit County real estate market is continuing our momentum. The average transaction price for all 18 reported areas was $472,722. The average residential price was $496,053. The median residential price was $392,500. The average PPSF was $314.
- Market Snapshot for Full Year 2014 vs. 2013: Values remain stable and are as follows: Average Indicators for $: Single Family +4%, Multi- Family +4% and Vacant Land -2%. Median Indicators for $: Single Family +4%, Multi- Family -5% and Vacant Land +16%.
- Market Analysis % Change showing years 2004-2014 (Year End for 2014): Monetary volume ($79,465,900) is up 14% from December 2013, transaction volume (174) is up 32% from December 2013. Full Year 2014 monetary volume is up 8% from 2013. 2014 transaction volume is up by7% from 2013.
- Residential Market Sales by Price Point: Residential volume in December had 143 transactions with $69,982,500 gross volume. There were 10 properties that sold for $1M and above in December. The most active price point in December was between the ranges of $200K to $400K. There were 39 Single family, 104 Multi-family and 13 Vacant land transactions in December. In 2014, there were 561 Single family, 1170 Multi- Family and 126 Vacant Land Residential sales.
- 2014 Average Price History: Average residential pricing continues to be consistent for 2014: Single Family- $751,240, Multi- Family-$344,578 and Vacant Land-$324,137. 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 2014: There have been 1731 residential transactions in 2014 and $858,667,681 gross volume with 126 properties selling for a $1M and over- Compared to 2013 there were 1563 transactions and $769,965,955 gross volume, 122 properties at $1M and over and in 2012, there were 1314 transactions with $673,545,600 gross volume, 106 properties at $1M and over.
- Top Lender Graph: There were 401 loans in December, 59% loans were related to sales, there were 174 REFI's and 124 loans were timeshare related. 41% of the real estate closings were cash transactions. There were 1238 loans related to Sales ( 22%), 1361 REFI's ( 24%) and 3070 Timeshare loans ( 54%) with the average of 43% being all cash real estate transactions in 2014.
- Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in December with the 5th month in 2014 with no bank sales.
- Foreclosures: There were only 12 Foreclosure actions in December, compared to 22 in December 2013. Check out page 13- there were only 65 Public Trustee's Deeds in 2014 compared to 2013 with 92 and 2012 at 165. Foreclosures are no longer a trend in Summit County, happy to say!
- Land Title Purchaser Highlights ( Page 15): There were 11 higher end sales in December to note- you can see the details on this report. In December, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 49% of our market, only 19% are local and 32% are out of state buyers. In 2014, the final demographics of our buyers are: 44% Front Range, 31% out of state, 24% local and 1% International.
Historical 2014 Market Data:
January 2014
February 2014
March 2014
April 2014
May 2014
June 2014
July 2014
August 2014
September 2014
October 2014
November 2014
Land Title Guarantee Company December 2014 Year End Market Analysis
27 Year Annual Appreciation Chart ( based on the prior years values)
27 Year Residential Total Sales
27 Year Average Price-Summit
2014 Commercial Sales
