Land Title Guarantee Company January 2010 Market Analysis from Summit County
Attached will find the Land Title Guarantee Company January 2010 Year End Market Analysis from Summit County.
- Market Snapshot by Area & Property Type Comparison- comparing Full Year 2009 vs. YTD ( One month) 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 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus January 2010 numbers.
- Cost Breakdown, January 2010 for Residential Improved Units-Price Point Summary (New Construction, Resales and January Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 ( one month), 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 January and the Cost Breakdown YTD from 2009 and 2008 for comparison.
- Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010
- Summit County Real Estate Market Analysis by Area for the month of January 2010: On the 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
- Summit County Average Price Chart YTD comparing 2006, 2007, 2008 & 2009 ( Residential Improved Units)
- Average Price History YTD 10, Full Years, 09, 08, 07, and 06- called Average Price Breakdown based on information from the Cost Breakdown Data.
- Top Lenders’ Graph for January 2010
- Top Lender’s Summary for January 2010
January Notable Sale Highlights:
1/29/2010 $3,300,000 Timber Trail Filing #2 Lot 22 aka 400 Timber Trail Road – .545 AC – Vacant Residential Building Site. PPAC $6,055,045.87. $6M per acre.
This site is located in a prime spot; the west lot line borders the ski area. This sale skews the average vacant site price off, but looking in the Snapshot Report clarifies this sale, along with the other (more normal) Vacant Residential Site Sales.
Over $1.5M:
1/25/2010 $1,950,000 Highlands Discovery Ridge Lot 161 aka 798 Gold Run Road – 4,910 SF with 5 Brm 6 Bath. On .78 AC, selling for $397.15 PSF. This is a new product sale, so falls under Developer sales category.
January Remarks:
- January 2010 was down 8% in $ from 2009, flat with number of transactions from 2009.
- Cash transactions were up about 8% from the past year in Summit County at 48%
- The Summit County Co real estate Market Snapshot report shows that the Median Price for a Single Family home is up January 2010 to the whole year of 2009 at 22%, Multi-Family Median Price was down 22% in January from entire year 2009, and Median Residential Vacant Land was about the same.
- January 2010 shows the most active price point with Residential Improved Units in the $200,000-$300,000 price range with 4 properties selling for over $1M. The median transaction price on all of Summit County reflects this with $330,500.
- The most active area in January were Breckenridge real estate with 19 transactions, and $14,812,000 in $ volume.
- Vacant Land’s average price has really decreased since 2006 in Summit County- $311,951 (Jan. 2010) compared to $1,013,500 in 2006 full year.
- There was 1 Bank Sale in January 2010, totaling $435,000 in Gross Volume, or $435,000 per Unit. This accounts for 1.45% of the Overall Gross Volume in Sales.
If you would like the Land Title information in the previous Excel format- please contact Brooke Roberts broberts@ltgc.com and she will be happy to send it to you.
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. To save these attachments; highlight with your cursor, then right click your mouse and save to your folder.
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- November 2009 Real Estate Market Analysis from Summit County