Archive for the 'Summit county real estate statistics' Category

Condo Sales Up 33% in Summit County, Colorado

The Market: Sold Properties YTD – Up plus 12%, Under Contract Properties – Up 18.5% and Current Inventory – Down minus 16.5%.

Last Week: Under Contract activity – Up 47%, Sold Activity – Up 27% and New Listing Activity did surge but still fell short by about minus 15%.

Sales by Price Range: Under $500,000 sales are showing a plus 17% improvement, Sales Between $500,000 & $1,000,000 are down minus 1.5% and sales over $1,000,000 are improving by plus 30%.

Interesting that in the same price ranges the average sold price is down minus 3.3% in the under $500,000, down minus 1.5% in the $500,000 to $1,000,000 and up plus 1.3% in the over $1,000,000.

Where are the sales occurring: The South Side of the County is up plus 23% in the number of sales and up 1.4% in average sold price. And, the North Side of the County is up plus 4.5% in the number of sales and down minus 7.7% in average sold price.

Another interesting tid bit: The average list price of the properties for sale today is the same as the average list price last year at this time for the county as well as the South Side and North Side.

In the link below you will find reports on condominium sales so far this year (2013 YTD) as compared to the years 2001 through 2012 for Summit County as well as by each town. It is 7 Pages, one for each town. If there were enough sales to perform an average then there is also a comparison of the 1, 2 and 3 bedroom condominium average sold prices for this year.

Condo sales are up county wide plus 33% with a plus 42% improvement in Breckenridge, a plus 44% improvement in Keystone and plus 83% in Copper Mountain!

Summit County Resort Real Estate Update

The Market: Sales are up 15.5% and average sold prices are down -3.5%. Pending (properties under contract) activity is up 5%. Last year at this time sales were up 3%, average sold prices were down -2.5% and the pending activity was up 30%.

 

Sales: Through May 5th sales are up 15.5% countywide. The properties are selling after being on the market for an average of 323 days and last year at this time it took an average of 403 days. The North Side of the county is up 8% for the number of sales and the South Side is up 27% (wow).
Price: Countywide the average sold price is down -3.5% and properties are selling at 95% of their list price and 91% of their original list price; which shows that a little bit of a price adjustment is still needed to help a property sell today. The South Side of the county is down -1% for their average sold price. Interesting though is that if we remove the project sales, that had their prices adjusted downward substantially earlier this year and yet where still very high priced, the average sold price in the South Side of the county would be down -7%. The North Side is witnessing the largest downward movement with their average sold price down -9%.
Weekly Activity: Last week was a tremendous week for closings with a surge of 83% over the same week last year! The under contract activity is up 5 properties for a 22% improvement and the new properties coming on the market is up 33%.
What’s out there now? Well the county has -13% fewer properties to choose from and those properties are listed about -2% less than the properties for sale last year at this time. Interesting to note that the average list price of the properties that are currently under contract is -20% below the average list price of the properties for sale that are not under contract.
Fewer properties for sale. More properties selling. Prices lower and interest rates at record lows…what more can one ask for?
By the way, as of the end of April RE/MAX Properties of the Summit is number one in Summit County as well as in most all the local towns. See all the towns where we are number one on a slide show online here http://www.luckymountainhome.com/  .  In fact, here is one location where we (Resort Real Estate) are really leading the pack…

 

 

Have a great week.

March 2013 Summit County Resort Real Estate Update

The local market is moving along at about the same pace as it was last year at this time. The number of properties that have sold are down as is the average sold price – not much, but down. The number of active listings remains lower this year by about 10%.

So, for the first two months of 2013 the number of sales are down by only a few sales and Read more »

Resort Real Estate Update August 2012

The peak selling time is here for Resort Real Estate in Summit County – Resort prices are down a bit, up a bit and/or flat – definite signs of bottoming out. The selection of available properties is good for buyers to select that right property and low enough that sellers have a really good opportunity to sell their property before ski season.
Interest rates are still at record lows offering buyers a little more buying power and sellers more buyers that can qualify for their property. Know of anyone interested in taking advantage of this unique situation?
Here is a bit of our market as of the end of July for condominiums and homes in Breckenridge, Frisco, Keystone, Copper, Dillon, Silverthorne and Copper as well as all of Summit County:
Home Sales
Condo Sales
Please pass on this information to anyone you feel may find it useful and for questions, more information – think Natasha for all your Summit County needs.
Natasha Bassova 970 – 389-8899
Realtor, Manager, Owner
Resort Real Estate, Summit County Colorado

Summit County News. Getting Ready for Summer

As the snow begins to melt and winter winds to an end, it’s a great time of year to plan your summer adventures in Summit County. Summertime in the high country has long been a favorite for locals and a secret to many. Blue skies, warm sunny days, no humidity and countless activities and events make the months of June, July, August and September a can’t miss! Some summer highlights to mark on your calendar include: the BBQ Festivals in Frisco (June 14 – 16) and Dillon (August 10 – 11),.. Read more »

Summit County Real Estate June 2011 Market Analysis

Land Title Guarantee Company June 2011 Summit County 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 the Summit County MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.


Within the link, you will find:

  • Summit County 2004-2005-2006-2007-2008-2009-2010-YTD 2011 Graph Comparison ( Page 1) This graph shows 7 full years for comparison, with YTD June 2011 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the June Market Analysis by Area graph. Read more »

Summit County Real Estate May 2011 Analysis

Land Title Guarantee Company May 2011 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 Sumit County MLS data. The data is an unofficial tabulation of Summit County real estate Records that are believed to be reasonably accurate.

You will find:

·         Summit County 2004-2005-2006-2007-2008-2009-2010-YTD 2011 Graph Comparison ( Page 1) This graph shows 7 full years for comparison, with YTD May 2011 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the May Market Analysis by Area graph.

·         Market Analysis by Area for the month of May 2011 ( Page 2): On  the  Market  Analysis by Area report please note the 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. Read more »

Summit County Real Estate Market Update


Enjoy the market update below and I hope you find the information interesting and if you know of anyone looking to get into this resort market send them my way! And if there is anything we can do for you, just let me know.


The General Market. Summit County real estate residential sales are up 19% (listings sold) with the average sold price down 3 percent. A little digging shows that the Summit North side of the county (Frisco, Copper, Keystone, Dillon and Silverthorne) are up by about 4 extra listings sold with about a 15% decrease in average sold price. The Breckenridge real estate area is up about 41% in listings sold and up 1.2% in average sold price.


A little more Detailed Market View. Digging even deeper shows each area’s residential sales and the positive or negative change in the average sold price and the number of listings sold comparing 2010’s 1st quarter to 2011’s 1st quarter. It is still early in the year and with the vast majority of sales yet to come this year a lot can change and with some of the small numbers in some of the areas it doesn’t take much to start a new trend or witness a substantial swing in either direction.


The Condominium Market. A very noticeable change in both the number of sales and the average sold price and as the graphs below show the entire change is due to the Breckenridge condo market. The Summit North condo sales for the 1st quarter in 2010 were at 53 and in 2011 the number of condos that sold were 53 with a combined decrease in the average sold price of about 9 percent. About half of the Breckenridge increase in sales were driven in part due to a newer project being sold off at dramatically reduced prices coupled with other newer and more expensive condominiums selling in the Breckenridge area.

What Price Range is Selling? The graph below shows all the residential sales for the 1st quarter by price range by the sold price. Interesting that 65% of our Summit County real estate market is selling in the zero to $500,000 range with 28% in the $500,000 to $1,000,000 range. Or 93% of all sales so far in 2011 (1st quarter) have been under $1,000,000. The percent to list for properties that sold in the $500,000 to $1,000,000 range is 90% and the under $500,000 range it is 92%.


The Single Family Home Market. Not as dramatic as the condo market with 51 selling in Summit County during the 1st quarter of 2010 and 53 selling in 2011 with about a 3.5% decrease in average sold price. The increase was in the Breckenridge market with 3 more sales in 2011 and the Summit North witnessed 1 less sale in 2011. The bigger change is in the average price where the Breckenridge area witnessed a 3% gain and the Summit North (Frisco, Copper, Dillon, Silverthorne and Keystone) witnessed a 19% loss.

A little more Detail on Sold Prices. Breaking it down by Breckenridge and Summit North (Frisco, Copper, Keystone, Dillon, Silverthorne) shows that 100% of all the sales in the Summit North area have been under $1,000,000 and almost 80% of the market in the Summit North is under the $500,000 level. Breckenridge on the other hand has about 50% of their market under the $500,000 mark coupled with a large percentage of their sales in the $500,000 to $1,000,000 and the 15% that is above $1,000,000 really translates to 13 listings sold.


Percent of Market by Year Built. This is interesting and the reason the graphs have been created is to help identify the shift in the market of higher end sales or over $1,000,000 sales. All of the over $1,000,000 residential sales occurred in the Breckenridge market and they consisted of 2 condos, 10 homes and 1 townhome. The other interesting point is that the majority of these sales occurred with newer properties in amongst other like properties – 70% of those that sold were built in the 2000’s! All were built in the 90’s and newer. The average sold price of the over $1,000,000 sales in 2011 is $1,568,484 and the average percent to list price is 95% (buyers are buying high end properties that are priced dead on).


March 2011 Summit County Market Analysis

Below you will find the Land Title Guarantee Company March 2011

Market Analysis link.

Click the link to view the complimentary Summit County data below from Land Title:


Land Title Guarantee Company March 2011 March 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.


Within the link, you will find:


· Summit County 2004-2005-2006-2007-2008-2009-2010-YTD 2011 Graph Commparison ( Page 1) This graph shows 7 full years for comparison, with YTD March 2011 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the March Market Analysis by Area graph.



· Market Analysis by Area for the month of March 2011 ( Page 2): On the Market Analysis by Area report please note the 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

- There is an average transaction price and median transaction price columns are added for comparison.

- Price per Square Foot (PPSF) was also added to the last column.

*Please note on this report- there is a line item about the recent month’s Bank Sales Activity for the month a the top of this report.


· Market Analysis by Area 2011( Page 3) (3 months)


· Market Snapshot by Area & Property Type Comparison ( Page 4)- comparing Full Year 2010 vs. YTD 2011. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change in all 19 areas reported at the County Clerk and Recorder’s office. The Median Price Comparison- compares Median Single Family, Multi-Family and Residential Land with percentage change. Sales believed to be inaccurate indicators of the market have been eliminated in this bottom report. The bottom graph shows Full Interest, Fee Simple, Arms- Length transactions.



· Market Analysis % Change ( Page 5) from 2004, 2005, 2006, 2007, 2008, 2009, 2010 and YTD 2011. This 2011 data is coming from the March Market Analysis by Area graph each month with ALL transactions with a DOC fee at the Clerk and Recorder’s office


· Residential Market Sales by Price Point March 2011( Page 6) –This chart shows New Construction, Resales and March Gross Residential Price Index and YTD Gross Residential Price Index for 2011. It also shows Full Years 2010, 2009, 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price for Single Family, Multi- Family and Vacant Land.



· Average Price History Full Years 2006 to 2010, YTD 2011 ( Page 7) – based on data from the Residential Market Sales by Price Point Summary.


· Historical Cost Breakdown March for Residential Improved Units ( Page 8)- YTD March 2011 and Price Point Summaries YTD from 2010 and 2009 for comparison



· Top Lenders’ Graph ( Page 9) for March 2011


· Bank Sales March 2011 details ( Page 10)-The Market Analysis by Area now reflects the number and total of Bank Sales with the Gross Volume and % volume of the overall gross volume in sales at the top of the Market Analysis by Area worksheet- this is the detailed information for your records for the month of March 2011.


· Land Title’s March 2011 Foreclosure Process Document Breakdown for Summit County ( Page 11)

This report shows how many Timeshares, Fee Simple and Unknown with No legal shown are going into the Foreclosure process and where they are within the process.

- Notice of Election & Demand for Sale ( NED) with Step process

- Certificate of Purchase ( COP) with Step process

- Public Trustee’s Deeds ( PTD) with Step Process

· March 2011 Summary of Foreclosure Actions( Page 12)- this report shows the Summit County foreclosures property summary with property types and locations YTD with snapshot graphs for your marketing efforts


· 2009 and 2010 Summit County Foreclosure Summary (Page 13)- This is for comparison, showing the snapshot of what happened in 2009 and 2010.


Notable Sales in March 2011:

The Highest Price for March 2011 is a commercial property:

3/31/2011 $1,850,000 Frisco Station Commercial Condo Units: 5 through 10 Inclusive aka 0842 North Summit Boulevard. The Total Commercial Improved space is: 8,393 SF, built in 1988. PPSF is $220.42 Retail Commercial Use. All Summit County Condos for sale listings


The Highest PPSF for March 2011:

3/24/2011 $930,000 Water House on Main Street Condo Unit 5109 aka 0600 South Main Street – 3 Brm 3 Bath YOC 2008 with 1,405 SF Living Area. This is a New Construction Sale. PPSF is $661.92


March 2011 Notes:

· Summit County Gross Real Estate Volume Graph: March was a positive month, over last year in both gross monetary volume and number of transactions. The first 3 months of 2011 are above last years first quarter.


· Market Analysis by Area for March: There were 102 transactions in March with $44,858,700 in monetary volume. The Copper area is showing some more activity. The most transactions continue to be in Breckenridge.



· Market Analysis by Area YTD: As of this quarter- Breckenridge has had $45,546,400 monetary volume, with 87 transactions, Median Residential Price at $454,750 and average PPSF is $425. Copper shows $4,786,500 with 12 transactions, Median Residential Price $362,500 and average PPSF is $366, Frisco has had $10,330,000 with 22 transactions, Median Residential Price at $400,000 and average PPSF is $241. Keystone has had $11,727,700 with 28 transactions, Median Residential Price $353,100 and average PPSF is $316. Silverthorne has had $7,851,800 with 18 transactions and the Median Residential Price is $338,000 with the average PPSF is $221.


· Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 once again shows an increase of 2%. The Median Price for Multi-Family from 2010 to YTD 2011 decreased by 1%. The Median Residential Land price is continues to fall with the 41% decrease 2010 to YTD 2011.



· Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 22% compared to YTD 2010. YTD 2011 transaction volume for all transactions recorded is up 35% compared to YTD 2010. Monetary Volume for March 2011 is up 20% compared to March 2010 and transactions for March 2011 are up 19% compared to March 2010. This historical graph indicates some positive movement. Mountain real estate Colorado



· Residential Market Sales by Price Point: There were 72 Residential Improved Units sold in March. There were 4 sales over $1M. The most active price point was $200K to $300K. YTD there have been 74 Single Family sales totaling $52,556,800, 139 Mulit-Family totaling $55,845,900 and Vacant Land at 24 transactions totaling $6,062,000.


· Average Price History: YTD Single Family Residential dropped again this month at $710,227, Multi-Family Residential dropped at $401,769 and Vacant Land Residential continues to drop at $252,583.


· Historical Cost Breakdown: In YTD 2011- there were 213 Residential Improved Unit Transactions (Gross- $108,402,700) vs. 2010 YTD- 137 transactions (Gross- $71,855,500) and YTD 2009-148 transactions (Gross -$83,877,000). YTD 2011 is showing steady signs of improvement with more transactions and higher gross volume over the past years this same time.


· Top Lender Graph: Cash sales decreased to 43% in March There were a total of 491 loans in March. 58 loans were related to sales, there were 188 REFI’s and 245 Deed of Trust were recorded for timeshare sales.



· Bank Sales: Bank sales are slightly down remain about the same in March. Bank owned properties continue to clear out as foreclosure action slow in March. There were 13 Bank Sales in March, totaling $4,630,900 in Gross Volume or $356,223 per unit. This accounts for 10.32% of the over all gross volume in sales.


· Foreclosure Info: March- There were 18 Fee Simple properties that made it to the PTD process. The overall difference for March 2011 compared to March 2010 with Foreclosure actions is 53 vs 62 which is a -14.5% difference- the bank owned properties continue to clear out as foreclosure actions slowed in March.


Directions to view Foreclosures: Go to co.summit.co.us, on the left hand side, click on “Treasurer and Public Trustee”, Click on “Foreclosure Property Search”, Click on the “Foreclosure List (PDF format)”.



2010 Year End Land Title Resort Real Estate Index by County from Eagle, Garfield, Pitkin, Routt and Summit Counties

You will find six worksheets within link:

Land Title Year End Resort Real Estate Index 2010


Gross Transaction Chart-Gross recorded real estate sales volume for all transactions in the 5 counties 2010, 2009, 2008, 2007, 2006, 2005 and 2004 full years, with data points shown for $ volume from 2010, 2007 and 2004.

Comparison Charts- 4 charts: Number of Recorded Sales Transactions by County Full Years 2010, 2009 through 2008, Full Years 2009 and 2010 Average Price Per Square Foot Sales Summary for Single Family and Multi- Family Property Types , Average Sales Price: Single Family 2008  through 2010 and Average Sales Price: Multi-Family 2008  through 2010.

Monthly Data-showing  2010 vs. 2009 Number of Transactions, Single Family Average Price Index, Multi- Family Average Price Index and Single Family- Multi-Family Average Price Per Square Foot Comparisons. NEW: Number of Bank Sales Transactions 2010 vs. 2009 and New Construction Sales Volume 2010 vs. 2009.

Monthly Data for the Comparison Charts-Gross Volume Transaction Report for all Recorded Transactions from 2006 through 2010, and Gross Transaction Report Summary with Year to Date Comparisons from 2010 through 2004.


Please note that each county has a different basis for collecting recorded transactions.  The data is collected from Eagle, Garfield, Pitkin, Routt and Summit County Clerk and Recorder’s Office and Assessor’s Office.  Data is deemed reliable but not guaranteed.


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