September 2008 Real Estate Market Analysis from Summit County
Attached, you will find the Land Title Guarantee Company September 2008 Real Estate Market Analysis from Summit County. There are 9 separate worksheets within this spreadsheet. You must use the tabs located on the left hand side of the spreadsheet to view all the worksheets.
- v    Summit County 2004-2005-2006-2007-2008 Graph Comparison
- v    Cost Breakdown, September 2008 (New Construction, Resales and Gross Residential Price Index, 2008 Year to Date Gross Residential Price Index)
- v    Cost Breakdown YTD (2008, 9 months and 2007, 9 months for a comparison)
- v    Market Analysis % Change from 2004, 2005, 2006, 2007 & 2008
- v    Market Analysis by Area for the month of September 2008
- v    Year-to-Date by Area (2008, 9 months)
- v    Summit County Residential Price Index comparing 2006, 2007 and YTD 2008
- v    Top Lenders’ Graph (Loan Breakdown- Refi’s, Timeshares and Cash Deals)
- v    Top Lenders’ Summary
Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office. 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.
·    September 2008 Real Estate Highlights:
§ September 2008 has the highest gross volume and number of transactions all year.
§ 19 Crystal Peak Lodge units closed for a total of $28,060,000 or averaging $1,476,842 per unit. This contributed to the highest average price per transaction that we have seen in the recent years at $643,131. Last September 2007, there were 25 Residential Improved Units that closed over $1M, this September 2008; there were 30 Residential Improved Units that closed for over $1M. Breckenridge mls
§ An apartment complex closed in Dillon Valley for $4.3 M, which is a commercial transaction- this figure skewed the transaction price, but not the Residential number. The reason that apartments are commercial is because they are income generating properties instead of dwelling units occupied by owners.
§ The 2008 Year to Date Gross Residential Price Index shows that our average prices continue to surpass the past two years of 2006 and 2007.
§ The month of September 2008 only shows a 25% decrease from the month of September 2007 in monetary volume. The monetary volume in September 2008 is similar and in between the years of 2004 and 2005. The month of September 2008 indicates a 33% decrease in number of transactions compared to the month of September 2007.
§ The Residential Improved Unit Cost Breakdown in September 2007 showed the Average Sales Price of $579,711 and the Average Sales Price in 2008 shows $672,400. The YTD 2008 September Residential Improved Units reflect the average price of $522,349; the YTD 2007 September Residential Improved Units reflect the average price of $519,985.
