Land Title Guarantee Company June 2010 Summit County real estate Market Analysis
Attached you will find the Land Title Guarantee Company June 2010 Market Analysis from Summit County.
June Remarks:
• Market Snapshot: Overall, for the 19 different areas that the Clerk and Recorder post transactions- the gross Median Single Family price in June for 6 months compared to the full year of 2009 was down 10% ($624,650-YTD 2010 compared to $695,750-2009), Median Price of Multi-Family was up 6% ( $350,000-YTD 2010 compared to $330,000-2009), and Vacant Land was
down 22% ( $265,000-YTD 2010-$340,000-2009).
• Summit County Real Estate Volume Graph (Gross): June 2010 saw a huge spike compared to June 2009- the 20 One Ski Hill Place Transactions played a role in the increase and monetary volume. Monetary volume was 146% up compared to June 2009 with One Ski Hill Place included. Monetary volume was up just 65% if we take One Ski Hill Place out of the equation, with is still a big improvement over last June 2009. Transactions were up in June with One Ski Hill Place compared to June 2009 by 73%, without One Ski Hill Place, the transactions were up 47%- so overall June showed signs of improvement in Summit County.
• Residential Summit County real estate Market Sales by Price Point: The most active price areas in June were under $200K! One Ski Hill Place transactions impacted the higher price ranges. The Single Family Average price YTD continues to be comparable to the full year of 2006.
• Historical Cost Breakdown: Year to Date 2010 shows 119 more Residential Improved Unit transactions vs. YTD June 2009. Gross Volume has also increased by $60,468,800 YTD 2010 vs. YTD 2009.
• Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 25% compared to YTD June 2009. YTD transaction volume for ALL transactions recorded is up 27% compared to YTD June 2009.The numbers still don’t compare to anything that we saw since 2004, 2005, 2006, 2007, 2008 or 2009 YTD.
• Market Analysis by Area YTD 2010: The only two areas in Summit that showed an increase with the Median Residential Price were Breckenridge and Summit Cove in June. The three most active areas in June both with $ and # of transactions: Breckenridge- with 20 transactions included in the 50, Breckenridge Golf Course area and Silverthorne/Wildernest-which might explain the high number of Residential transactions under $200K.
• Market Analysis by Area YTD 2010 for June: The average price per square foot in the 19 areas reported by the Clerk and Recorder’s office is $343, with Median Transaction Price at $553,536. The Median Residential Price is $448,000.
• Bank Sales: Bank Sales in June were up-8 transactions in Summit County. The 8 recorded sales were from a financial institution to a new purchaser.
• Top Lender Graph: Cash sales hover around the 40% mark. There were 309 loans recorded in June: 83 of those were related to sales- 60% of the 138 recorded sales in Summit. There were 186 Refi’s/Equity loans, 40 loans were related to timeshares.
• June 2010 Foreclosure Process Breakdown: There were 26 Notice of Election properties (23 were fee simple), 2 Certificate of Purchase and 10 properties that have gone to the Public Trustees Deed in June.
Notable Sales in June:
The highest priced sale this month is for a ski-in/out condominium unit:
6/25/2010 $2,590,000 One Ski Hill Place Condo Unit 8507 – 1521 Ski Hill Road – 4 Brm 4 Bath – 1,912 SF – YOC 2009 – PPSF of $1,354.60. This is a new construction sale.
- There was also a single family residence:
6/1/2010 $1,975,000 Trappers Glen Subd Lot 2 – 1015 Four O’Clock Road – 6 Brm 6 Bath – 3,784 SF – YOC 1998 – Landsize = .8310 AC. PPSF of $521.93.
- One Ski Hill Place Condo continues to impact the market this month with the following in sales for June 2010:
Gross Volume: $27,445,000
Average Price per Unit: $1,372,250
Number of Transactions: 20
Average Price PSF: $1,301.11
Please note that there is ONE PDF attached with 13 separate reports.
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 (six 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 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus June 2010 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the Market Analysis by Area graph.
• Residential Market Sales by Price Point Summary June 2010 for Residential Improved Units-Price Point Summary (New Construction, Resales and June Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 (six 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.
• Historical Cost Breakdown YTD for Residential Improved Units June 2010 and the Price Point Summaries YTD from 2009 and 2008 for comparison.
• Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010
• Market Analysis by Area for the month of June 2010: 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 comparisons
• 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
• Market Analysis by Area YTD (6 months).
• Bank Sales May 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 Market Analysis by Area worksheet- this is the detailed information for your records.
• Average Price History YTD 2010, Full Years, 09, 08, 07, and 06- based on data from the Residential Price Point Summary.
• Top Lenders’ Graph for June 2010
• Land Title’s June 2010 Foreclosure 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.
• 2009 Summit County Foreclosure Summary- This is for comparison, showing the snapshot of what happened in 2009.
Related posts
- May 2010 Summit County Real Estate Market Analysis Land Title Guarantee Company
- 2010 First Quarter Summit County Real Estate Statistical Data
- 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