Summit County Market Update
Happy Tuesday Morning to YOU!
What's the Summit County real estate market up to?
January 2014 Highlights:
- Market Analysis by Area for January: The first month of 2014 was decent and very comparable to January 2013 with $52,155,100 in gross sales and 102 transactions. The average transaction price was $514,524. The average residential Price/square foot was $302. Frisco had a very high end commercial sale ( Best Western) that closed in January.
- Market Snapshot for 2014 vs. 2013: Values are as follows: Single Family -2%, Multi- Family +1% and Vacant Land -15% for the Average, and Median indicators: Single Family +17%, Multi- Family -8% and Vacant Land +35%. We are only comparing one month to the full year of 2013 at this time.
- Market Analysis % Change showing years 2004-2014 YTD: January monetary volume ($52,155,100) was down 2% from January 2013. Transactions (102) were down 6% from January 2013.
- Residential Market Sales by Price Point : Residential volume in January had 83 transactions with $38,988,500 gross volume. There were 7 properties that sold for $1M and above in January. The most active price points in January continue to be between $200K -$300K. January had 26 Single family, 57 Multi-family and 7 vacant land transactions.
- 2014 Average Price History: Average residential pricing continues to be consistent as of January - Single family is $736,719, Multi- family is $347,961 and Vacant Land is $276,643. Our market is holding value!!
- Loans vs Cash: There were 627 loans in January, 48% were related to sales and 52% of the sales were cash at closing.
- Buyer Highlights: In January, the majority of second homeowner real estate transactions continue to be the Front Range demographic at 48% of our market, only 22% are local and 30% are out of state buyers YTD. (Information courtesy of Land Title Guarantee Company)
For a more in-depth look at the individual towns in Summit, please click below!!
Check out this really great property in Wildernest:
102 TWENTY GRAND DR
This huge duplex boasts 4 bedrooms + den, oversized 2 car garage, tons of windows & sleeps 15! Gorgeous views all around, from the lg master deck in front, to the lovely views of Buffalo & Red Mtns from the private hot tub & deck in back. Lg master ...