Summit County Colorado Real Estate on a Rising Trend!

October was the most positive month that Summit County has seen in quite some time. There were 230 transactions with $104,706,100 gross volume. This is the best month with transaction numbers since April 2007 and a better gross volume since September 2008. October showed solid volume from mostly residential sales.

October 2012 Highlights:

Market Analysis by Area Year- to- Date (10 months): There have been 1,285 transactions, with $618,829,700 Gross Volume in the past 10 months. The Median Residential price dropped a few thousand at $408,000 and the Average PPSF remains at $285. The Upper Blue Valley Areas ( Breckenridge combined) make up 530 transactions with $294,555,900 of the gross volume. Frisco gained strength with numbers in October with Boulevard Bend closings. Keystone continues to stay busy with 170 transactions and $75,073,100 in gross volume.
Market Snapshot YTD: The Median Single Family YTD indicates a 6% increase ( $619,000 from $583,750 in 2011), The Median Price of Multi- Family YTD shows a 4% increase from 2011 ( $317,550 from $305,000 in 2011) and Median residential Vacant Land continues to increase with a 32% increase ($230,250 from $175,000 in 2011). The price of Breckenridge residential vacant land has really skyrocketed this year.
Market Analysis % Change showing years 2004-YTD 2012: October really kicked up the numbers for YTD 2012. YTD 2012, gross volume is now up 10% from YTD 2011. Gross monetary volume is up October 2012 by 54% from October 2011. Number of transactions YTD 2012 vs. YTD 2011 are up by 10%. The number of transactions in October 2012 are up 43% vs.October 2011.
Residential Market Sales by Price Point for October: Residential volume in October had 190 transactions with $93,170,500 gross volume (Please note that Deed Restricted Units are counted in the transaction numbers but not on the Residential Market Sales numbers- there were a higher number of Deed Restricted units recorded in October) There were 67 Single Family and 123 Multi-Family Residential properties sold in October, with the majority being in the price range of $200K to $300K. There were 14 properties that sold for $1M and above in October.
2012 Average Price History: The Single Family residential average price was $765,769, the Multi-Family residential average price was $352,392 and the Vacant Land residential average price up at $317,000.
Historical Cost Breakdown 2012: There were 1032 residential transactions YTD in 2012 and $536,460,200 gross volume and 89 properties over $1M. YTD 2011, there were 947 transactions and $490,768,400 gross volume, 82 properties at $1M and over and YTD 2010, there were 858 transactions with $494,759,400 gross volume, 103 properties at $1M and over.
Top Lender Graph:- Cash sales went down to 35% from 44% in October for all Real Estate Closings. There were 732 Mortgage Deed recordings in October. It was a VERY active month. 150 loans were related to sales (65%), there were 284 REFI’s and 298 Timeshare loans.
Bank Sales and Foreclosures: Foreclosure actions are still dropping with only 26 actions filed in October, compared to 46 last October, a decrease of 43.47%. Public Trustees deeds are being issued on about 41% of the NED filings on the year to date. There have been 151 Public Trustees Deeds issued so far in 2012. Of these, only 62 were for real property, the remaining 89 were for Timeshare units.
Highest Priced Sale & Highest PPSF for October 2012:
10/19/2012 $3,100,000 Gold Flake Subd #3A Lot 3 aka 115 Stillson Placer Terrace – 5 Brm 6 Bath YOC 2007 with 5,464 SF Living Area on .75 AC Land. PPSF is $567.35.
-information courtesy of Land Title, Breckenridge

Leave a Reply