December Year End Summit County Market Analysis 2008
Attached, you will find the Land Title Guarantee Company December 2008 and Year End 2008 Market Analysis from Summit County. There are 10 separate worksheets within this spreadsheet. You must use the tabs located on the left hand side of the spreadsheet to view all the worksheets.
* Summit County 2004-2005-2006-2007-2008 Graph Comparison
* Cost Breakdown, December 2008 (New Construction, Resales and December Gross Residential Price Index and the complete YTD Gross Residential Price Index)
* Cost Breakdown YTD (2008,12 months) and the Cost Breakdown YTD from 2007 for comparison
* Market Analysis % Change from 2004, 2005, 2006, 2007 & 2008
* Market Analysis by Area for the month of December 2008
* Market Analysis by Area YTD 2008
* Summit County Residential Price Index comparing 2006, 2007 & 2008
* Top Lenders’ Graph (Loan Breakdown- Refi’s, Timeshares and Cash Deals)
* Lender Summary 12 Months with Name and Number of Loans
* Top Lenders’ Summary for December
·       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 Breckenridge MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.
·     December 2008 Real Estate Highlights
§ December 2008 shows a 55% decrease in monetary volume compared to December 2007, December 2008 also shows a 55% decrease in number of transactions compared to December 2007
§ The Holiday Inn in Frisco sold for $5,750,000- it is coded into the data as a Frisco Commercial transaction
§ The Cache at Union Creek in Copper Mountain started to close in December-5 new townhomes, totaling $2,674,500 or approximately $534,900 per unit
§ New unit sales in Breckenridge have settled down
§ The average transaction price in December continues to hold steady
§ There were 227 Refi/Equity Loans in December
§ The median residential transaction price for real estate in December 2008 was $385,000.
§ The highest number of transactions falls in the $300,000 to $400,000 prices ranges in December.
§ 9 properties sold for $1M and over in December
·        Year End 2008 Highlights
§ 2008 Monetary Volume indicates a 35% decrease from 2007, number of transactions in 2008 are down 43% from 2007
§ % of $ Volume: #1 Breckenridge, #2 Silverthorne, #3 Keystone
§ # of transactions: #1 Breckenridge, #2 Keystone #3 Silverthorne
§ The average transaction price in all 20 areas in 2008 was $585,841, in 2007 it was $509,693 and in 2006 is was $448,367
§ The Summit County Residential Price Index from 2006 to 2008 shows the steady average prices in 2008- $835,803–Single Family homes, $463,633-Mulit Family and $470,260-Vacant Land
§ 177 Residential Improved Units sold for $1M and over in 2008 and 216 Residential Improved Units sold for $1M and over in 2007
§ Residential Improved Units in 2008 # of transactions are down over 50% from 2007, and total dollar volume is down over 60% from 2007
§ Cash transactions in 2008 average was 35% of the sales in Summit County
