Summit County Real Estate May 2011 Analysis
Land Title Guarantee Company May 2011 Analysis 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 Sumit County MLS data. The data is an unofficial tabulation of Summit County real estate Records that are believed to be reasonably accurate.
You will find:
· Summit County 2004-2005-2006-2007-2008-2009-2010-YTD 2011 Graph Comparison ( Page 1) This graph shows 7 full years for comparison, with YTD May 2011 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the May Market Analysis by Area graph.
· Market Analysis by Area for the month of May 2011 ( Page 2): 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 comparison.
- Price per Square Foot (PPSF) was also added to the last column.
*Please note on this report- there is a line item about the recent month’s Bank Sales Activity for the month a the top of this report.
· Market Analysis by Area 2011( Page 3) (5 months)
· Market Snapshot by Area & Property Type Comparison ( Page 4)- comparing Full Year 2010 vs. YTD 2011. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change in all 19 areas reported at the County Clerk and Recorder’s office. 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.
· Market Analysis % Change ( Page 5) from 2004, 2005, 2006, 2007, 2008, 2009, 2010 and YTD 2011. This 2011 data is coming from the May Market Analysis by Area graph each month with ALL transactions with a DOC fee at the Clerk and Recorder’s office
· Residential Market Sales by Price Point May 2011( Page 6) –This chart shows New Construction, Resales and May Gross Residential Price Index and YTD Gross Residential Price Index for 2011. It also shows Full Years 2010, 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.
· Average Price History Full Years 2006 to 2010, YTD 2011 ( Page 7) – based on data from the Residential Market Sales by Price Point Summary.
· Historical Cost Breakdown May for Residential Improved Units ( Page 8)- YTD May 2011 and Price Point Summaries YTD from 2010 and 2009 for comparison
Top Lenders’ Graph ( Page 9) for May 2011
Bank Sales May 2011 details ( Page 10)-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 for the month of May 2011.
Land Title’s May 2011 Foreclosure Process Document Breakdown for Summit County ( Page 11)
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
May 2011 Summary of Foreclosure Actions (Page 12)- this report shows the property foreclosure summary with property types and locations YTD with snapshot graphs for your marketing efforts.
2009 and 2010 Summit County Foreclosures Summary (Page 13)- This is for comparison, showing the snapshot of what happened in 2009 and 2010.
Notable Sales in May 2011:
The highest priced sale in May was a commercial property:
5/10/2011 $2,430,000 Ten Mile Subd Lot A with Easement & ROW – 0865 North Summit Boulevard aka Taco Bell. This commercial building is 2,661 SF in Size, and has .63 AC Land. It was built in 2003. PPSF is $913.19
The highest priced non-commercial sale in May:
5/23/2011 $2,250,000 Lewis Ranch at Copper Mountain Subd Lot 1 – 0988 Beeler Place – 3 Bedroom 5 Bath YOC 2006 with 4,742 SF Living Area on .18 AC Land. PPSF is $474.48. This is a new Construction Sale.
The highest PPSF in May:
5/17/2011 $2,025,000 One Ski Hill Place Condo Unit 8410 – 1521 Ski Hill Road – 3 Bedroom 3 Bath YOC 2008 with 1,593 SF Living Area. PPSF is $1,271.19.
May 2011 Notes:
· Summit County Gross Real Estate Volume Graph: May was a decent month, topping the number of transactions over May 2010, with slightly less gross monetary volume due to the lower prices in Summit County.
· Market Analysis by Area for May: There were 107 transactions in May with $56,177,600 in monetary volume. Breckenridge real estate normally tends to have the majority of transactions each month with 26 and $17,988,800 monetary volume in May. The Median Residential Price for all 19 areas combined is lower this month at $400,000.
Market Analysis by Area YTD: As of this May YTD, there have been 491 transactions with $249,258,800 monetary volume, the median residential price is $408,750 for all 19 areas with and average residential PPSF is $321 for all 19 areas.
· Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 once again shows an increase of 1%. The Median Price for Multi-Family from 2010 to YTD 2011 is flat at 0% and the Median Residential Land price is continues to fall with a 44% decrease 2010 to YTD 2011. The Breckenridge Golf Course saw a big spike from YTD 2011 from full year 2010 at 15% increase Median Single Family and Keystone also saw a spike at 86%! real estate Frisco saw a spike in Median Multi- Family with a 15% increase.
· Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 20% compared to YTD 2010. YTD 2011 transaction volume for all transactions recorded is up 26% compared to YTD 2010. Monetary Volume for May 2011 is down 11% compared to May 2010 and transactions for May 2011 are up 14% compared to May 2010.
· Residential Market Sales by Price Point: There were 84 Residential Improved Units sold in May with $48,737,100 gross volume. 35% of the residential sales are $500K and under. There were 14 Residential sales over $1M ( same as April). There were 34 Single Family transactions totaling $28,372,600 and 50 Multi-Family transactions totaling $20,364,500 in May.
· Average Price History: YTD Single Family Residential Average Price paces at an increase this month YTD at $780,637, Multi-Family Residential is flat to last month’s chart at $409,389 and Vacant Land Residential continues to drop at $261,997.
· Historical Cost Breakdown: In YTD 2011- there were 384 Residential Improved Unit Transactions (Gross- $212,892,600) vs. 2010 YTD- 299 transactions (Gross- $171,410,500) and YTD 2009-263 transactions (Gross -$171,512,200). YTD 2011 is showing steady signs of improvement with more transactions and higher gross volume over the past years this same time.
· Top Lender Graph: Cash sales were 53% in May. There were a total of 444 loans in May. 50 loans were related to sales, there were 168 REFI’s and 226 Deed of Trust were recorded for timeshare sales. Cash transactions are about half of the number of sales transactions in May.
· Bank Sales: There were 14 Bank Sales in May, totaling $7,368,400 in Gross Volume or $526,314 per unit. ( a little higher than April) This accounts for 13% of the overall gross volume in sales. YTD, there have been 58 Bank Sales totaling $26,520,500 in Gross Volume or $457,250 per unit, this accounts for 11% of the gross volume sales.
· Foreclosure Info: May- There were 14 Fee Simple properties that made it to the PTD process. YTD: 136 FEE SIMPLE properties are in the Foreclosure PROCESS. Blue River, Silverthorne and Breckenridge show the highest numbers of Fee Simple properties enduring the Foreclosure process.