February 2011 Market Highlights

Notable real estate transactions in February

• Summit County Gross Real Estate Volume Graph: February was another decent month, it surpassed last year’s February both in Gross Volume and # of transactions.

• Market Analysis by Area for February:  There were 89 transactions in February with $38,351,800 in monetary volume. Breckenridge was the most active area with Keystone coming in second.

• Market Analysis by Area YTD: There have been 176 transactions with $81,899,200 in monetary volume so far. The Median Residential Price for all 19 areas is $403,000. There have been 55 transactions in Breckenridge, 22 in Keystone, 15 in Blue River, 14 in Frisco, 14 in Silverthorne and 13 in Wildernest. The average Residential Price Per Square Foot for all 19 areas is $322.

• Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 increased by 2%.  The Median Price for Multi-Family from 2010 to YTD 2011 increased by 7%.  The Median Residential Land price is still struggling with a 41% decrease 2010 to YTD 2011.

• Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 24% compared to YTD 2010.   YTD 2011 transaction volume for all transactions recorded is up 47% compared to YTD 2010.  Monetary Volume for February 2011 is up 6% compared to February 2010 and transactions for February 2011 are up 35% compared to February 2010.

• Residential Market Sales by Price Point: There were 65 Residential Improved Units sold in February. There were five other sales over $1M, two homes in the Highlands, two homes in Breckenridge, and one in Copper Mountain.

• Average Price History: Single Family Residential dropped a bit YTD at $705,177, Multi-Family Residential increased at $429,237 and Vacant Land Residential continues to drop at $185,923.

• Historical Cost Breakdown: In YTD 2011- there were 141 Residential Improved Unit Transactions  (Gross- $73,491,600) vs. 2010 YTD- 72 transactions (Gross- $38,284,300)  and YTD 2009-92 transactions (Gross -$52,456,000).

•  Cash sales are at 51% in February. There were a total of 625 loans in February. 44 loans were related to sales, there were 222 REFI’s and 359 Deed of Trust were recorded for timeshare sales.

• Bank Sales:  Bank sales are slightly down with 10 this month, totaling $4,972,900 in gross volume which accounts for 13% of overall gross volume. There have been 21 Bank Sales YTD through February 2011, totaling $9,391,200 in Gross Volume, or $447,200 per Unit .  This accounts for 11.47% of the Overall Gross Volume in Sales.

• Foreclosure Info: February- There were 11 Fee Simple properties that made it to the PTD process. Directions to view Foreclosures: Go to www.co.summit.co.us, on the left hand side, click on “Treasurer and Public Trustee”, Click on “Foreclosure Property Search”, Click on the “Foreclosure List ( PDF format)”.