April 2014 Market Analysis- Summit County, Colorado

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Courtesy: Land Title Guarantee Company

April 2014 Highlights:
  • Market Analysis by Area for April: . There were 117 transactions with $59,517,300 in gross monetary volume. The average transaction price for all 18 reported areas at $508,695, average residential price was $552,308 and the median residential price was $447,500. The average residential PPSF was $327.  Median averages continue to increase each month in 2014.
  • YTD Transaction Summary: There have been a total of 421 transactions with $212,850,800 monetary volume, the average transaction price for all 18 reported areas is $508,770, the average residential price is $520,678, the median residential price is $405,000, the average PPSF is $321 YTD.
  • Market Snapshot for 2014 vs. 2013:  Values are as follows: Average Indicators- Single Family +13%, Multi- Family +9% and Vacant Land +18%. Median indicators: Single Family +7%, Multi- Family  +34% and Vacant Land +49%.  These indicators translate into escalating pricing in Summit County for 2014.
  • Market Analysis % Change showing years 2004-2014 YTD:  April monetary volume ($59,517,300) is down 7% from April 2013, transaction volume is down -13% from April 2013.  2014 YTD (4 months) monetary volume is up 4% from YTD 2013. YTD 2014 transaction volume is down -7% down from YTD 2013.  Inventory is low in Summit County compared to years past, you can see that YTD pricing is stronger with less transactions.
  • Residential Market Sales by Price Point : Residential volume in April had 99 transactions with $54,678,500 gross volume.  There were 11 properties that sold for $1M and above in April.  The most active price point in April stayed in $400K -$500K range which is higher than years and months past. April had 34 Single family, 65 Multi-family and 6 Vacant land transactions.
  • 2014 Average Price History: Average residential pricing continues to be highly consistent as of April - Single family increased to $846,385, Multi- family is $377,100 and Vacant land is $382,707. This graph ( page 7) is a great piece to show your clients that our market has held it's value over all these years.
  • Historical Cost Breakdown YTD 2014 : There have been 353 residential transactions YTD 2014 and $183,799,2003 gross volume with 31 properties $1M - Compared to 2013 YTD, there were 357 transactions and $176,280,200 gross volume, 26 properties at $1M and over and in 2012 YTD, there were 297 transactions with $154,769,600 gross volume, 26 properties at $1M and over.
  • Top Lender Graph: There were 475 loans in April, 52% (61) loans were related to sales and 48% of the sales were cash at closing. There were 76 REFI's and 338 loans related to Timeshares.
  • Market Highlights: Please see page 10 of the Market Analysis-View the higher priced purchases in April and another month with no bank sales.
  • Bank Sales and Foreclosures: Foreclosures continue to decline with 8 actions filed in April versus 24 in April 2013
  • Land Title Purchaser Highlights ( Page 15):  There were 12 higher end sales in April to note- you can see the details on this report.   In April, the majority of our buyers for real estate transactions continue to be the Front Range demographic at 37% of our market, only 22% are local and 38% are out of state buyers.
Land Title Guarantee Company April 2014 Market Analysis