December 2011 Market Highlights

 

Notable Sales in December:

Highest Priced sale for December 2011:

12/16/2011 $1,520,000 Silverthorne Subd #1 Lot 45R aka 0257 Annie Road – Commercial Property built in 1997, Warehouse with 7,199 SF on 1.17 AC Land. PPSF is $211.14

Highest Priced Residential sale for December 2011:

12/7/2011 $1,400,000 Lone Eagle above River Run Condo Unit 3016 aka 0280 Trailhead Drive – 4 Bedroom 4 Bath YOC 2000 with 2,229 SF Living Area.  PPSF is $628.08.

Highest PPSF for December 2011:

12/8/2011 $460,000 Ten Mile Landing TH Unit B aka 0310 North 5^th Avenue – 1 Bedroom 1 Bath YOC 1992 with 656 SF Living Area.  PPSF $701.22.

December and Year End 2011 Highlights:

• Summit County Gross Real Estate Volume Graph:  Gross Volume hovers at $61,627,700. The average over 12 months is $57,019,316.  The best month in 2011 with gross volume was September with $79,799,400.

• Market Analysis by Area for December:  There was $61,627,700 in Gross Volume and 140 transactions, the Median Transaction Price for all 19 areas was $355,500, Median Residential Price $380,000 and Average Residential PPSF $297.  

Market Analysis by Full Year 2011: There were 1448 transactions with $684,231,800 monetary volume. The year end Median Residential Price for all 19 areas is $382,350 and average PPSF $296. There have been 381 transactions in Breckenridge ( $210,944,000 monetary volume), 172 transactions in Frisco ( $87,222,700 monetary volume), 156 transactions in Keystone ( $63,095,000 monetary volume), 131 transactions in the Breckenridge Golf Course location ( $76,690,300), 122 transactions in Silverthorne ( $65,105,900 monetary volume) and 53 transactions in Copper ($24,487,000). Wildernest and the Blue River areas were consistent with over 90 transactions in 2011. There were two Affordable Housing projects that began closing in 2011- Valley Brook (31) in Breckenridge and Peak One Neighborhood in Frisco (12).

• Market Snapshot Year End: The Median Price for Single Family from 2010 to 2011 was down -4% ( $583,750- 2011 vs. $605,000-2010).  The Median Price for Multi-Family from 2010 to 2011 is down -7% ( $305,000-2011 vs.$327,500-2010) and the Median Residential Land price has a significant decrease at -49% ( $175,000-2011 vs.$340,000-2010).  

• Market Analysis % Change Year End and December 2011: Monetary Volume remains relatively flat in 2011 to 2010 YTD at -2% difference ( 2010=$698,439,815 and 2011=$684,231,800). Transactions in 2011 are up 10% compared to 2010 ( 2010=1319 and 2011=1448). December 2011 was down 13% compared to December 2010 with Monetary Volume and down 9% with number of transactions.

• Residential Market Sales by Price Point for December: There were 115 Residential Improved Units sold in December with $54,952,700 in gross volume. There were 8 sales for over $1M. Please click on the Buyer Profile $1M Plus link above for  buyer demographics. The majority of transactions were in the price range of at $200K to $400K.  There were 40 Single Family Residential Sales, 75 Multi- Family Residential Sales and 10 Residential Vacant Land Sales in December, the majority being resale’s.

2011 Average Price History: The Single Family Residential average price was $734,262, the Multi-Family Residential average price is $367,280 and the Vacant Land Residential average price is $246,478- All somewhat lower than the past 4 years. Prices continue to reflect a decrease in Summit County in 2011, looking similar to pricing in 2005 and 2006.

· Historical Cost Breakdown 2011:   There were 1176 Residential Improved Unit Transactions (Gross- $598,530,900) vs. 2010 - 1106 transactions (Gross- $613,611,200)  and 2009-1047 transactions, (Gross -$615,495,400).  The gross volume from 2011 to 2010 to 2009 shows another trend of price decreases, more transactions with less gross volume. There were 101 transactions over $1M in 2011, 120 in 2010 and 136 in 2009.

Top Lender Graph: - Cash sales were at 37% in December. There were 88 loans related to sales in December, 239 REFI’s and 61 Timeshare loans. The average for 12 months with Cash Sales was 44.5% in 2011.  Overall in 2011, there were 2372 loans related to REFI’s, 817 loans related to Sales and 2625 loans related to Timeshares.

Bank Sales:   There were 6 Bank sales in December totaling $1,999,500 in Gross Volume or $333,250 per unit, which accounts for 3.24% of the overall Gross Volume and 4.29% of the overall transactions. There have been 103 Bank Sales in 2011, totaling $40,621,500 in Gross Volume, or $394,384 per unit, which accounts for 5.94% of the overall Gross Volume and 7.11% of the overall transactions. Bank Sales were up by 50 from 2010.

Foreclosure Info: Final Public Trustee’s Deeds filed show a little bit of a declining trend when you look at the numbers annually- The difference from filed PTD from 2009 to 2010 was 72% increase, and the difference of filed PTD from 2010 to 2011 showed an increase of only 53%.  With all the NED’s filed, withdrawn, and filed PTD’s, there are still 105 Notice of Election ( NED) for the past 3 years on the books.

Above information compiled by Land Title Grarantee Company