Courtesy: Land Title Guarantee
March 2014 Highlights:
- Market Analysis by Area for March: . March was a good month-There were 119 transactions with $60,774,200 in gross monetary volume. The average transaction price for all 18 reported areas at $517,467, average residential price was $531,078 and the median residential price was $417,500. The average residential PPSF was $335. Averages continue to increase each month in 2014.
- YTD Transaction Summary: There have been a total of 304 transactions with $153,333,500 monetary volume, the average transaction price for all 18 reported areas is $508,799, the average residential price is $508,349, the median residential price is $400,750, the average PPSF is $319 YTD. We are showing price stabilization across the board in Summit County this year.
- Market Snapshot for 2014 vs. 2013: Values are as follows: Average Indicators– Single Family +12%, Multi- Family +7% and Vacant Land 28%. Median indicators: Single Family +11%, Multi- Family +4% and Vacant Land +55%. These indicators translate into escalating pricing in Summit County for 2014.
- Market Analysis % Change showing years 2004-2014 YTD: March monetary volume ($60,774,200) is up 30% from March 2013, transaction volume is +1% up from March 2013. 2014 YTD (3 months) monetary volume is up 9% from YTD 2013. YTD 2014 transaction volume is down -4% down from YTD 2013. March numbers indicate the best increases since March 2008.
- Residential Market Sales by Price Point : Residential volume in March had 104 transactions with $55,232,100 gross volume. There were 9 properties that sold for $1M and above in March. The most active price point in March changed for the first time in quite a while- between $400K -$500K. March had 27 Single family, 77 Multi-family and 7 Vacant land transactions.
- 2014 Average Price History: Average residential pricing continues to be highly consistent as of March – Single family increased to $844,781, Multi- family is $370,038 and Vacant land is $414,465. 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 254 residential transactions YTD 2014 and $129,120,700 gross volume with 20 properties $1M – Compared to 2013 YTD, there were 239 transactions and $116,142,700 gross volume, 16 properties at $1M and over and in 2012 YTD, there were 205 transactions with $109,278,500 gross volume, 19 properties at $1M and over.
- Top Lender Graph: There were 411 loans in March, 51% (61) loans were related to sales and 49% of the sales were cash at closing. There were 91 REFI’s and 259 loans related to Timeshares.
- Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in March and no bank sales in March 2014.
- Bank Sales and Foreclosures: Foreclosures continue to decrease with 8 actions filed. with 7 of those Fee Simple.
- Land Title Purchaser Highlights ( Page 15): There were 9 higher end sales in March to note- you can see the details on this report. In March, the majority of our second homeowners for real estate transactions continue to be the Front Range demographic at 50% of our market, only 17% are local and 33% are out of state buyers.
Land Title March 2013 Market Analysis
1st Quarter Summit County Commercial Sales
Historical 2014 Market Data:
January 2014
February 2014
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