February 2010 Real Estate Market Analysis from Summit County
Attached will find the Land Title Guarantee Company February 2010 Market Analysis from Summit County. Big News! There is ONE PDF attached with 13 (4 New Worksheets) included!
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.
Attached within the PDF, you will find:
- Market Snapshot by Area & Property Type Comparison- comparing Full Year 2009 vs. YTD (Two months) 2010. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change. 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.
- Summit County real estate 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus February 2010 numbers.
- Cost Breakdown, February 2010 for Residential Improved Units-Price Point Summary (New Construction, Resales and February Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 ( two months), also shows Full Years, 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.
- Cost Breakdown for Residential Improved Units YTD February 2010 and the Cost Breakdown YTD from 2009, 2008 and 2007 for comparison.
- Average Price History YTD 2010, Full Years, 09, 08, 07, and 06- called Average Price Breakdown based on information from the Cost Breakdown Data.
- Top Lenders’ Graph for February 2010
- Top Lender’s Summary for February 2010
- Land Title’s new February 2010 Summit County Foreclosures Process Document Breakdown for Summit County
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
- Year to Date Summary of Foreclosure Actions- this new report shows the property foreclosure summary with property types and locations YTD with snapshot graphs for your marketing efforts.
- Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010
- Market Analysis by Area for the month of February 2010: On the Summit County Market Analysis by Area report please note the color coded system;
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- Green Text indicates an increase from the previous month’s value.
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- 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 also added to the last column.
*Please note on this report- we added a line item about the recent month’s Bank Sales Activity for the month a the top of this report
- Bank Sales YTD details-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 worksheet- this is the detailed information for your Colorado real estate records.
- Market Analysis by Area YTD (2 months).
There is a notable sale in February – it is the highest sale for February 2010:
2/17/2010 $3,650,000 Ptarmigan Trail Estates Subd #1 Lot 1, Block 1 – 808 Little Beaver Trail – also known as: the Super 8 Motel:
61 Rooms built in 1981 with a total building size of: 22,172 SF. It sits on 1.008 Acres. PPSF is $164.62. This sale is shown in the Silverthorne Area, and is categorized as a Commercial Improved property.
February Remarks:
- The Median Single Family average price YTD in 2010 is up 9% compared to the full year of 2009. Multi- Family average price YTD is down 12% compared to the full year of 2009. Vacant Land Average Price YTD is only down 1% YTD compared to full year of 2009.
- Keystone and Breckenridge real estate were the two most active locations in Summit County with transactions in February- Keystone real estate -11 transactions and Breckenridge -13 transactions.
- There were 6 Residential properties that were recorded for $1M and over in February- with 29% of the gross volume.
- There are 98 YTD Residential Transactions in 2010, vs. the 92 last year at this time.
- The most active price point remains in the $200K-$300K price ranges for Single Family and Multi-Family Residential Improved Units.
- The YTD Market Analysis with all recorded transactions in February shows the Residential Median average to be $367,500 with $321 per square foot as the average.
- Cash transactions were down to 35% this month compared to the past months with around 40%, we are seeing more Owner Carry transactions.
- There are still only two recorded Bank Sales YTD in Summit County.
- There are 52 Notice of Election properties, 1 Certificate of Purchase and 23 properties that have gone to the Public Trustees Deed YTD.
- February 2010 is up 32% in monetary volume from 2009. YTD, up 10% for 2 months in 2010 vs. 2009. February 2010 transaction volume is up 20% from last February 2009. YTD, up 10% for 2 months in 2010 vs. 2009.
