March 2009 Summit County Real Estate Market Analysis
Attached, you will find the Land Title Guarantee Company March 2009 Market Analysis from Summit County. New Format: There are 9 PDF files attached.
Some Interesting Points:
-There were 7 closings in the new Cache at Union Creek totaling: $4,171,000 or $595,857 per unit-(These units were not in the Assessor’s system at the time the Market Analysis was calculated, so there are no PPSF calculations available)
-There were 2 sales for new homes in The Shores- totaling $2,475,000 or $1,237,500 per unit/$470.88 Average PPSF
-March was the best month so far in 2009 with # of transactions and $ monetary volume
-YTD, Summit County monetary volume was down 60%, and numbers of transactions were down 56% compared to 2008. YTD, both monetary volume and number of transactions are down 60% compared to YTD 2008.
-As of April 7, 2009, there are 2049 active Summit County MLS listings – Residential (1694) and Vacant Land (355) – There were 1256 Active Listings in 2008
(Res. and Vacant), 788 in 2007 (Res. and Vacant) and 1100 in 2006 (Res. and Vacant).
- Cash transactions were 42% of all Real Estate closings for the month of March.
· Summit County 2004-2005-2006-2007-2008-2009 Graph Comparison
· Cost Breakdown, March 2009 for Residential Improved Units (New Construction, Resales and March 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, 3 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 March 2009: On the Market Analysis by Area report we have recently 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 ( 3 Months) 2009
· Summit County real estate Residential Price Index YTD comparing 2006, 2007, 2008 & 2009
· Top Lenders’ Graph (Loan Breakdown- Refi’s, Timeshares and Cash Deals)
· Top Lenders’ Summary for March
· 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. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source.
by Land Title Guarantee Company