Summit County Real Estate Market Analysis August 2009
Summit County Real Estate Market Analysis August 2009
You will find the Land Title Guarantee Company August 2009 Market Analysis from Summit County. New Format: There are 10 PDF files attached.
Due to the number of customers that were experiencing difficulty viewing the information in the previous Excel format, you will receive the Land Title Market Analysis in PDF files for your marketing efforts. If you would like it in the previous Excel format- please contact me, and I would be happy to send it to you.
To save these attachments; highlight with your cursor, then right click your mouse and save to your folder.
· Market Snapshot-This worksheet breaks down all of the residential activity by property type and areas in Summit County. We utilize ONLY “Arms- Length” transactions for this report. The “Arms Length” residential activity is broken out into Single Family, Multi- Family and Vacant Land transactions. A comparison from a full year of 2008 (all sales transactions that qualify for the full year) along with % growth or loss by area is also shown in this report. The current year shows sales through August 2009 from the Summit County Clerk and Recorder’s & Assessor’s Office- no MLS data is utilized in this worksheet
· Summit County real estate listings 2004-2005-2006-2007-2008-2009 Graph Comparison
· Cost Breakdown, August 2009 for Residential Improved Units (Summit County New Construction, Resales and August Gross Residential Price Index and YTD Gross Residential Price Index), also shows Full Year 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price
· Cost Breakdown for Residential Improved Units YTD (2009, 8 months) and the Cost Breakdown YTD from 2007 and 2008 for comparison
· Market Analysis % Change from 2004, 2005, 2006, 2007, 2008 & 2009
· Market Analysis by Area for the month of August 2009: On the Market Analysis by Area report we have added a color coded system;
* Green Text indicates an increase from the previous month’s value.
· Black Text indicates the value is the same or not applicable from the previous month’s value.
· Red Text indicates a decrease from the previous month’s value.
· Colored text is not used for % Calculations – all of those columns will remain black
· Price per Square Foot (PPSF) was added last month on the far right.
· Market Analysis by Area YTD ( 8 Months) 2009
· Summit County homes Price Index YTD comparing 2006, 2007, 2008 & 2009
· Top Lenders’ Graph (Loan Breakdown- Refi’s, Timeshares and Cash Deals)
· Top Lenders’ Summary for August
Summary Highlights:
- The highest priced home sale in August was in Copper Mountain real estate at Lewis Ranch- Lot 16 sold for $2.65M-5342 SF living area, 5 bedroom, 6 baths. PSF $496.07. Copper Mountain New construction.
-Residential sales over $1M are still holding strong- with 11 closings in August at $1M and up- one for exactly $1M is located in the $900,000 -$1M category in the Cost Breakdown worksheet. – The Carwash on Airport Road in Breck sold for $1.3M- Commercial Transaction. So far, YTD 47 Residential properties have sold for $1M and over, YTD 2008 there were 103 and YTD 2007 there were 124.
-The highest number of transactions (114) so far this year with a total of $60,975 monetary volume, down from August 2008 34% down monetary volume and 38% with number of transactions. YTD, 2009 is down about 50% both monetary and transaction volume from last August YTD 2008.
-Single Family YTD in Summit County still continues to exceed the past 3 years at $912,102; Multi Family and Vacant Land have dropped.
· 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 Summit County 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.
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