Summit County’s Market Analysis through June 2012

Land Title Guarantee Company has once again provided me with an updated Market Analysis for Summit County.  To view the report in its entirety, please click on Summit County Market Analysis – June 2012.

Some highlights from this report include:

  • The Market Analysis by Area for June shows that there was $52,117,600 in Gross Volume, off by 21% from June 2011.  There were 109 transactions, which stayed strong and stable this month.
  • The Market Analysis by Area Year-to-Date (6 months) shows that Breckenridge, Keystone and Silverthorne continue to hold the top spots withnumber of transactions and gross volume.  The Median Residential price for Summit for the first quarter is steady again in June at $412,500 with $286 Average Residential PPSF – all consistant with the 5 month trends from YTD May.
  • The Median Single Family prices are holding tight with YTD 2012 at $580,000.  Median Multi-Family price is a little stronger than YTD 2011, at $325,000 and once again Vacant Land has experienced a pick up in 2012 with the Median price of $231,500.
  • YTD, Gross Volume is down 7% from YTD 2011.  We are pacing above 2009 and comparable to 2010 $ volume at 6 months into 2012.  Transactions are up YTD 3% from 2012 and are the highest since 2008 with 612 transactions.
  • Residential volume in JUne had 85 transactions with $47,544,100 Gross Volume.  There were 35 Single Family and 50 Multi-Family Residential Properties sold in June with the majority being in the price range of $200K to $400K.  There were 7 properties that solf for $1M and above in June.
  • The Avrage prices are still showing a decline YTD 2012 from past few years – The Single Family Residential average price was $715,457, the Multi-Family Residential average price is $366,838 (both up from May YTD) and the Vacant Land Residential average price is $283,283 (Vacant land is up from YTD 2011).
  • There were 490 Residential Transactions YTD in 2012 and $252,960,700 Gross volume.  The larges number of transactions is falling into the $200 – $400 price range with 37 transactions $1M and over so far in 2012.
  • Cash sales were at 35% in June – this is the lowest all year with cash transactions.  There were 71 loans related to sales in JUne, 200 Refi’s, and 130 Timeshare loans.
  • Bank Sales were down in June with on 4.  Foreclosure actions were significantly down with only 34 in June compared to 49 in June 2011.

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