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Land Title Guarantee Company July 2009 Market Analysis

Attached, you will find the Land Title Guarantee Company July 2009 Market Analysis from Summit County.  New Format: There are 10 PDF files

NEW!

·         10 Year Resales Worksheet- Residential Summit County Properties on a Ten Year Historical Index to Gross Volume in Summit County.  The attached new worksheet ( 10 Year Resale Data) shows the yearly ratio of Residential Resales to Gross Transactions, along with a 10 year average ratio.  We hope this information is helpful in sorting out the Strong real estate Resale Market still present in Summit County.  None of the Summit County new construction developments and sales are represented in this analysis, only true Residential Resales are utilized.  In addition, the yearly average price and yearly count of Resale transactions is also shown for your consideration. Please note that Gross Transactions in Summit County include all types of sales, Resales, New Product Sales, Commercial Sales, Vacant Land Sales, Parking Space Sales, etc…so any other subset of data is not  automatically defined by subtraction of the Resale number from the Gross Number.

·         Summit County 2004-2005-2006-2007-2008-2009 Graph Comparison

·         Cost Breakdown, July 2009 for Residential Improved Units (New Construction, Resales and July 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, 7 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 July 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 ( 7 Months) 2009

·         Summit County Residential Price Index YTD comparing 2006, 2007, 2008 & 2009

·         Top Lenders’ Graph (Loan Breakdown- Refi’s, Timeshares and Cash Deals)

·         Top Lenders’ Summary for July

Summary Highlights:

-The highest number of transactions (95) so far this year with a total of $47,401,000 monetary volume, down from July 2008 41% down monetary volume and 30% with number of transactions.

- Keystone showed very strong sales, with many upward (green) numbers.  Countywide: Gross Averages and Medians are all in the green, with the Gross PPSF showing a decline from June’s Average.

- There was a hotel that sold on 7/30/2009 $3,000,000 Sunwood Subdivision Lots 1,1A & 2   – Days Inn Hotel, 73 Rooms built in 1985 on 3 parcels totaling: 2.81 AC  Total sf:  34,922 located in the Silverthorne Market Area.  This is recorded as a commercial transaction.

- There were 8 luxury home sales recorded at or over $1,000,000 in value, with the average PPSF of $367.63 – in several areas of the county: Keystone, Breckenridge, Breckenridge Golf Course, Peak 7 and the Woodmoor Area (the price point summary breaks at 1,000,000 so one of the three in that category is exactly $1,000,000.  The rest are under).

-Single Family Homes YTD in Summit County exceeds the past 3 years at $926,547.

-Cash sales declined at a new low with 27% in July.

-The most active price points in July were in the $200,000-$300,000 range in the Residential Improved Unit category.

·      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.

Related posts

• Land Title Guarantee Company June 2010 Summit County real estate Market Analysis
• May 2010 Summit County Real Estate Market Analysis Land Title Guarantee Company
• Summit County Real Estate March 2010 Market Analysis
• February 2010 Real Estate Market Analysis from Summit County
• Land Title Resort Real Estate Index Full Year 2009

Tags: Summit county real estate