Summit County Real Estate - 2010

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Summit County Real Estate Market - 2010

The most current sales and market data for the Summit County real estate market can be found through the menu at the top of this page.

This page is used to hold dated materials from 2010 which may still be of interest to some users.

Dec '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Nov '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Oct '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Sept '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Aug '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Jul '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Jun '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

May '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Apr '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Mar '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Feb '10 Land Title Monthly Summit County Colorado specific data (.PDF format)

Following describes the information contained in these files:

• Market Snapshot by Area & Property Type Comparison - comparing Full Year 2009 vs. YTD (Two months) 2010. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change. The Median Price Comparison compares Median Single Family, Multi-Family and Residential Land with percentage change. Sales believed to be inaccurate indicators of the market have been eliminated in this bottom report. The bottom graph shows Full Interest, Fee Simple, Arms- Length transactions.
• Summit County 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus February 2010 numbers.
• Cost Breakdown for Residential Improved Units-Price Point Summary (New Construction, Resales and February Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 ( two months), also shows Full Years, 2009 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price for Single Family, Multi- Family and Vacant Land.
• Cost Breakdown for Residential Improved Units YTD for given month 2010 and the Cost Breakdown YTD from 2009, 2008 and 2007 for comparison.
• Average Price Breakdown : Average Price History YTD 2010, Full Years, 09, 08, 07, and 06 based on information from the Cost Breakdown Data.
• Top Lenders’ Graph for given month
• Top Lender’s Summary for given month
• Foreclosure Process Document Breakdown for Summit County : Shows how many Timeshares, Fee Simple and Unknown with No legal shown are going into the Foreclosure process and where they are within the process.
• Year to Date Summary of Foreclosure Actions : Shows the property foreclosure summary with property types and locations YTD with snapshot graphs.
• Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010.
• Market Analysis by Area for the given month: On the Market Analysis by Area report please note the  color coded system;
  • Black Text indicates the value is the same or not applicable from the previous month’s value.
  • Red Text indicates a decrease from the previous month’s value.
  • Green Text indicates an increase from the previous month’s value.
  • Colored text is not used  for % Calculations – all of those columns will remain black
  • Price per Square Foot (PPSF) was also added to the last column.
  • *Please note on this report- we added a line item about the recent month’s Bank Sales Activity for the month a the top of this report.
    
    
• Bank Sales YTD details : The Market Analysis by Area now reflects the number and total of Bank Sales with the Gross Volume and % volume of the overall gross volume in sales at the top of the worksheet.
• Market Analysis by Area YTD.

Land Title Observations on the above:

Notable Sales in December:

• Highest Sale for December 2010: 12/16/2010 $2,995,000 Masters at Copper Creek Subd Lot 14 aka 0112 Masters Drive – 6 Bedroom 6 Bath, YOC 2007 with 4,990 SF Living Area on .1382 AC Land.  PPSF is $600.20.  This is a New Construction Sale.
• Highest PPSF for December 2010: 12/8/2010 $1,045,000 One Ski Hill Place Condo Unit 8510 aka 1521 Ski Hill Road – 1 Bedroom 2 Bath, YOC 2008 with 858 SF Living Area. PPSF is $1,217.95.  This is also a New Construction Sale.

December and Year End Remarks:

• Summit County Gross Real Estate Volume Graph: December 2010 was down to December 2009 with monetary volume and transactions.  For the past 5 months, Summit County has been hovering between $60 to $80K in monetary volume, and around 117-154 transactions per month. Our best month with $ volume in 2010 reflects the One Ski Hill Place units closing in June.
• Market Analysis by Area for December:  Breckenridge was active in December with 55 transactions, the most $ amount in the county ( $25,881,600), with the Keystone area coming in second with # of transactions (16) and third with $( $5,198,500).  Silverthorne movement with # of transactions (14) was third, with second in $ volume($5,702,800). Overall, December tied the highest transaction month this year which was October with 154 Transactions.
• Market Analysis by Area Full Year 2010: The average Median Transaction price for all 19 reported areas is $379,000. The Median Residential Price for all 19 areas is $423,750 with the average Residential PPSF YTD at $326 for all 19 areas.  The total $ volume was $698,439,815 with a total of 1319 recorded transactions.  
• Market Snapshot: The Median Price for Single Family from 2009 to 2010 decreased by 13% from $695,750 to $$605,000.  The Median Price for Multi-Family from 2009 to 2010 only decreased by 1% from $330,000 to $327,500.  The Median Residential Land from 2009 to 2010 decreased by 46% from $340,000 to $185,000. The areas in the Median Price for Single Family that showed an in increase from 2009: Blue River ( 8%), Dillon Valley ( 7%), Farmer’s Corner (15%) Summit Cove (13%) and Wildernest( 6%). The areas in the Median Price for Multi-Family that showed an increase from 2009 to 2010: Breckenridge ( 4% -Note b/c of One Ski Hill closings) and Frisco ( 4%).
• Market Analysis % Change: 2010 Monetary Volume for ALL transactions recorded is up 2% compared to 2009. Please keep in mind that the $24M transaction at Beaver Run is a recorded transaction and therefore included in this chart data in August 2010. 2010 transaction volume for ALL transactions recorded is up 6% compared to 2009.YTD. December 2010 was down 31% from December 2009 with monetary volume and down 13% with number of transactions.
• Residential Market Sales by Price Point: The numbers for Residential Improved Units for 2010: Single Family-415 with $770,797 average price, Multi-Family-691 with 425,080 average price and Vacant Land-77 with $336,025 average price.
• Average Price History - Residential Graph: Average prices has actually held fairly steady in this category since 2006.
• Historical Cost Breakdown: 2010, there are a total of 1106 Residential Unit transactions with $613,611,200 monetary volume. Special Note: For Sale By Owner numbers: there were 1,106 Total Residential Transactions for the year in our database, so the difference from the MLS number is 96 Residential Sales which is  8.6% FSBO using our “approximate” method. In 2010, the most active price point for Residential has been in the $200K-300K price range. There were 120 Residential Improved Units that sold for $1M and over in 2010.
• Top Lender Graph: Cash sales remain consistent with the past few months at the 45% mark. There were 521 loans recorded in December (highest volume of Loan Documents all year)- with 85 loans related to sales. There were 367 Refi’s/Equity loans ( a lot of Refi’s closed in December).
• Bank Sales: There were 8 Bank Sales in December totaling $2,466,900 in gross volume which accounts for 3.5% of overall gross volume. There have been 50 Bank Sales through December 31, 2010 totaling $19,622,100 in gross volume with $392,442 per unit. This figure accounts for 2.81% of the gross volume in sales.
• Foreclosure Info: December-Foreclosure recordings were down with only 31 this month and 10 Fee Simple properties going PTD. In 2010, there were 148 properties that went to PTD vs. 2009 with 86 going to PTD.
• Some 2010 thoughts: The overall Summit County market continues to be a mixed bag.  We feel that our market may be gaining strength even though there were some tax induced sales late last year to compete with when comparing the fourth quarter 2009 to 2010.  2010 showed some solid activity. We are still coming in just above last year both in gross volume and number of transactions.  The difference continues to be in the pricing.  That factor has not stabilized yet in all areas of the market.

Notable Sales in November:

• Highest priced sale in November: 11/19/2010 $3,000,000 Lomax Estates Subd Lot 4 aka 0090 Lomax Drive – 7 Bedroom 9 Bath, YOC 2007 – 8,042 SF Living Area on .52 AC Land.  PPSF $373.04.  This is a New Construction Sale in the Breckenridge Market Area.
• Highest PPSF sale in November: 11/22/2010 $299,500 Main Street Station Condo Unit 1310 aka 505C South Main Street – Studio 1 Bath, YOC 2000 – 454 SF Living Area.  PPSF $659.69. 

November Remarks:

• Summit County Gross Real Estate Volume Graph: November 2010 is almost flat to last November 2009 with monetary volume and transactions. This year’s numbers seem to be holding steady to last year.
• Market Analysis by Area for November: The most active areas with $ volume: #1 Breckenridge ( 28%), Silverthorne #2 ( 17%) and Keystone #3 ( 13%). The most active areas with transactions: Breckenridge #1 ( 25%), Keystone #2 ( 17%) and Silverthorne and Frisco are tied at #3 ( 12%). The Median Residential Price for all 19 areas in Summit County is at $372,500 with $306 Average PPSF.
• Market Analysis by Area YTD 11 Months: The average Median Transaction price for all 19 reported areas YTD is $425,000 with the average Residential PPSF YTD at $329 for all 19 areas.  Breckenridge remains in first place with 35% of the $ volume and 24% of the transactions with an Median Residential price of $490,000 with $448 PPSF.
• Market Snapshot: The average Median Single Family home full year of 2009 was $695,750, 11 months to date, the average Median Single Family is holding at $608,000. The average Median Multi- Family full year of 2009 was $330,000, 11 months to date, the average Median Multi-Family is holding strong at $334,000.  The average Vacant Land Median Price was $340,000 in 2009,  2010-11 months to date it’s down to $200,000.
• Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 8% compared to YTD November 2009. Please keep in mind that the $24M transaction at Beaver Run is a recorded transaction and therefore included in this chart data in August 2010. YTD transaction volume for ALL transactions recorded is up 9% compared to YTD November 2009.YTD. There has been a total $627,684,715 monetary volume and 1165 transactions in the past 11 months.
• Residential Market Sales by Price Point: Sales $1M and over were down. The most active price point for Residential was in the $300K to $400K price range.
• Average Price History- Residential Graph: Single Family, Multi- Family or Vacant Land. YTD Average Residential Single Family: $774,798, YTD Average Residential Multi-Family: $434,501 and YTD Average Residential Vacant Land $332,154.
• Historical Cost Breakdown: YTD 2010, there are a total of 977 Residential Unit transactions with $550,077,100 monetary volume and YTD 2009 there were a total of 895 Residential Transactions with $525,509,900 monetary volume- somewhat close. YTD, the most active price point for Residential has been in the $200K-300K price range with $300K to $400K coming in close, very similar to last year.
• Top Lender Graph: Cash sales remain consistent with the past few months at the 44% mark. There were 482 loans recorded- with 79 loans related to sales. There were 310 Refi’s/Equity loans.
• Bank Sales: There were 7 Bank Sales in October.

Notable Sales in October:

• The Highest Priced sale was for a Single Family Home: 10/19/2010 $3,950,000 Summit Estates Subd #1 Lot 12 aka 0085 Sunshine Ridge Lane.  4 Bedroom 5 Baths, YOC 2005 with 6,659 SF Living area on 2.73 AC Land.  PPSF was $593.18.
• The Highest PPSF is for a Liftside Condo, Unit 314 that sold for $606.87.  It is 393 SF and is a studio unit.  Sales price is $238,500. 

October Remarks:

• Market Snapshot: The average Median Single Family home full year of 2009 was $695,750, 10 months to date, the average Median Single Family is holding at $610,000. The average Median Multi-Family full year of 2009 was $330,000, 10 months to date, the average Median Multi-Family is holding strong at $338,000.  The average Vacant Land Median Price was $340,000 in 2009,  2010-10 months to date it’s down to $250,000.
• Summit County Gross Real Estate Volume Graph: October 2010 set a bench mark for 2010 with the most transactions at 154. The monetary volume is still consistent with the months of August ( Big Beaver Run transaction in August- FYI) and September in 2010.
• Residential Market Sales by Price Point: There were 5 Home Sales that were $2M and over in October 2010. YTD 2010 is pacing similar to 2009, so far there have been 327 Single Family transactions with an average price of $788,789 vs. Full Year 2009 with Single Family transactions at 392, and the average price of $905,030. YTD 2010 Multi-Family transaction are 531 with an average price of $445,999 vs. Full Year 2009 with Multi- Family transactions at 655 and an average price of $398,051. Vacant Land is almost tied at YTD 62 transactions at average price of $342,518 and Full Year 2009 at 69 transactions and average price at $399,025.
• Historical Cost Breakdown: YTD 2010, there are a total of 858 Residential Unit transactions with $494,759,400 monetary volume and YTD 2009 there were a total of 771 Residential Transactions with $463,880,300 monetary volume - pretty close.
• Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 10% compared to YTD October 2009. Please keep in mind that the $24M transaction at Beaver Run is a recorded transaction and therefore included in this chart data in August 2010. YTD transaction volume for ALL transactions recorded is up 10% compared to YTD October 2009.YTD, The number of transactions in October continues to climb and is the most that we have had all year, with monetary volume flat to last September 2010.
• Market Analysis by Area for October: The increases and decreases are across the board. The average Median Residential Price is $405,000 with the Average Residential PPSF is $306 for all 19 areas reported with the Clerk and Recorders office in Summit County.
• Market Analysis by Area YTD 10 Months: The average Median Transaction price for all 19 reported areas YTD is $436,000 with the average Residential PPSF YTD at $332 for all 19 areas.
• Bank Sales: There were 6 Bank Sales in October.
• Top Lender Graph: Cash sales remain consistent with the past few months at the 44% mark. There were 447 loans recorded- with 87 loans related to sales. There were 279 Refi’s/Equity loans.
• Average Price History: Single Family, Multi- Family or Vacant Land. YTD Average Residential Single Family: $788,789, YTD Average Residential Multi-Family: $445,999 and YTD Average Residential Vacant Land $342,518.

Notable Sales in September:

• 9/13/2010 $2,700,000 Highlands @ Breckenridge Highland Park Lot 61 – 0117 Sage Drive – 4 Brm 5 Bath YOC 2008 5,929 SF Living Area on 1.51 AC.  PPSF is $455.39.  This is a new construction sale.
• 9/27/2010 $2,591,000 New Town of Dillon Lot 7, Block J – 0136 Gold Run Circle – 4 Brm 5 Bath YOC 2007 5,044 SF Living Area on .34 AC.  PPSF is $513.68
• 9/1/2010 $2,100,000 Swan River Valley PUD Lot 2 – 2087 Tiger Road – 3 Brm 5 Bath YOC 2001 4,285 SF Living Area on 3.75 AC.  PPSF is $490.08

September Remarks:

• Market Snapshot: Areas that are holding strong with Median Average Price with Single Family: Blue River ( $600,000), Dillon Valley ( $377,500), Farmer’s Corner ( $429,000), Silverthorne ( $747,500), Summit Cove ( $542,500), Wildernest ( $477,500) and Woodmoor ( $835,000).  Areas that are holding strong with the Median Average Price for Multi-Family: Breckenridge ( $455,000), Breckenridge Golf Course ( $500,000), Dillon Valley ( $$144,650), Frisco ( $352,500) and Silverthorne($440,000).
• Summit County Gross Real Estate Volume Graph: September 2010 continues the positive trend from August 2010 with very similar Gross Real Estate monetary volume. ( $78,228,400 September 2010 and $79,753,200 in August 2010- which included the $24M Beaver Run transaction in August)
• Residential Market Sales by Price Point: 13 Residential Unit sale $1M and over! Most of the Residential sales in September 2010 were a little higher in the $300K to $400K range. There were 45 Residential Single Family Resales averaging $806,809 per unit and 80 Residential Multi-Family Resales averaging $441,499 per unit.
• Historical Cost Breakdown: Year to Date 2010 shows 94 more Residential Improved Unit transactions vs. YTD September 2009. A total of 36 One Ski Hill Place Units are included in this figure for 2010. There have been a total of 91 Residential Improved Units $1M and over sold in 2010 compared to 175 YTD September 2009 and 133 YTD September 2008.
• Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 15% compared to YTD September 2009. Please keep in mind that the $24M transaction at Beaver Run is a recorded transaction and therefore included in this chart data. YTD transaction volume for ALL transactions recorded is up 13% compared to YTD September 2009.YTD, The number of transactions is the most that we have had all year, with monetary volume flat to last month if you count the Beaver Run transaction, without the Beaver Run transaction, monetary volume is up from last month August 2010 almost 30%.
• Market Analysis by Area for September: There were a lot of Green ( increases) in Summit County in September! We saw increases in $ volume and # transactions, including Median Transaction prices across the board. Some highlights include: Breckenridge Golf Course area-$9,535,000 Volume transactions with Median Transaction price $517,500, Frisco area-$8,658,500 with Median Transaction price at $496,250 and Keystone area-$13,616,000 with Median Transaction price $325,000.
• Market Analysis by Area YTD 9 Months: Summit County has 870 recorded transactions YTD with $497,762,615 in $ Volume. The Median Transaction price for all 19 reported areas YTD is $395,350, with the Median Residential price for all 19 areas at $440,000.  The Average Residential PPSF YTD is $337 for all 19 areas.
• Bank Sales: Bank Sales were down 1 from August with 5 Bank Sales in September totaling $2,370,000 in Gross Volume or $474,000 per unit and account for 3.03% of the overall Gross Volume of Sales.  There are a total of 29 Bank Sales YTD totaling $12,821,600 in Gross Volume or $442,124 per unit.  This accounts for 2.63% of the overall Gross Volume of Sales.
• Top Lender Graph: Cash sales remain high in September- around the 45% mark. There were 258 Refi’s/Equity loans.
• Average Price History Residential Graph: YTD for 2010 vs. the past 4 full years is fairly consistent- there are no extreme dives in Single Family, Multi- Family or Vacant Land. YTD Average Residential Single Family: $778,666, YTD Average Residential Multi-Family: $462,859 and YTD Average Residential Vacant Land: $ 343,295.

Notable Sales in August:

There was a large transaction recorded in Beaver Run for $24M:

8/31/2010 $24,000,000 Beaver Run Subd Lots 3A,3B,3C aka 649 Village Road.  This encompasses the commercial/retail portion of Beaver Run including 109,254 SF Building Area, constructed in 1980.  Landsize for all three parcels totals 6.181 AC.

The two top sales (besides Beaver Run) are as follows:  (it’s important to note that these sales were not in Breckenridge or Keystone)

8/17/2010 $2,250,000 – Lewis Ranch at Copper Mountain Subd aka 1069 Beeler Place, 5 Bedroom 6 Bath, YOC 2007 with 5,189 SF Living area on .20 AC.  PPSF is $433.61  (this is a new construction sale)

8/18/2010 $2,200,000 – Hamilton Creek Subd #2 Lot 4, Block 11 aka 0160 Hamilton Creek Trail, 5 Bedroom 7 Bath, YOC 2001 with 7,445 SF Living area on 4.8541 AC.  PPSF is $299.50

There were not any “substantial” new project sales to mention in August, there was one Watertower sale.

August Remarks:

Market Snapshot: YTD MEDIAN Single Family price holds strong out of all 19 reported areas at $622,050, MEDIAN Multi-Family price is still positive at $336,500, and MEDIAN Price Vacant Land has gone down at $250,000.

You will also notice the high Median Average Price for Residential Land in Breckenridge this month-  So far this year, Breckenridge has had upper end land sales including the high sale in Timber Trail of  $3.3M . Some of the other subdivisions in Breckenridge that also had high land sales this year are Gold Flake, Sunbeam Estates and Western Sky Ranch-with the # of sales to ratio this year, it leads to a higher priced vacant land average price in Breckenridge- upper end land properties are selling in this area.

Summit County Gross Real Estate Volume Graph: August 2010 was a very positive month- even without a large project closing at Beaver Run at $24M. All transactions lead to $79,753,200- minus the $24M=$55,753,200!

Residential Market Sales by Price Point: The most active price areas continue to hover between $200K-$400K (46 of the 97 Residential transactions). 7 transactions sold in August for $1M and over. Utilize this chart to show your clients the average prices for New Construction, Resales and historical averages.

Historical Cost Breakdown: Year to Date 2010 shows 96 more Residential Improved Unit transactions vs. YTD August 2009. A total of 36 One Ski Hill Place Units are included in this figure for 2010. The most active price point over the past 8 months is $200-$300K.

Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 31% compared to YTD August 2009. Please keep in mind that the $24M transaction at Beaver Run is a recorded transaction and therefore included in this chart data. YTD transaction volume for ALL transactions recorded is up 3% compared to YTD August 2009.YTD, Summit County is pacing 20% higher than YTD 2009 with Monetary Volume and 15% higher with number of transactions.

Market Analysis by Area for August: The Median Transaction price for all of the 19 areas reported by the Clerk and Recorder’s office is up from last month at $399,000 with PPSF at $305. Breckenridge continues to be the most active area in Summit County both % of $ and # of transactions.

Market Analysis by Area YTD 8 Months: 40% of the $ volume comes from Breckenridge, 11% Silverthorne and Frisco – Breckenridge Golf Course areas tied at 8%. The YTD Median Residential Price for all 19 areas is $440,750 with $339 PPSF.

Top Lender Graph: Cash sales remain high in August- around the 47% mark. There were 237 Refi’s/Equity loans.

Average Price History- Residential Graph: YTD for 2010 vs. the past 4 full years is fairly consistent- there are no extreme dives in Single Family, Multi- Family or Vacant Land.

 Foreclosure Info: August- 9 Fee Simple properties made it to the PTD this month. So far, YTD 96 properties have made it all the way to the PTD process, last year 2009, there were a total of 86 that made it to the PTD process.

 

July

Highest priced sale in July: 7/16/2010 $2,428,500 Boulder Ridge Subd #2 Phase 2 Lot 9 – 0061 Boulder Circle – 4 Bedroom 5 Bath – 4,685 SF Living Area – YOC 2007 - .29 AC Land Size – PPSF $518.36 – this is a developer/new construction sale.

The second highest sale was in Frisco: 7/30/2010 $1,900,000 Frisco Heights Subd Lot 8 – 0161 County Road #1040 – 4 Bedroom 5 Bath – 3,783 SF Living Area – YOC 2004 – 1.3774 AC Land Size – PPSF $502.25

Activity at One Ski Hill Place from July:

• 3 Transactions
• $3,715,000 in Gross Volume
• $1,238,333 Average Price per Unit
• $1,351.62 Average PPSF

July Remarks:

Market Snapshot:  Overall, for the 19 different areas that the Clerk and Recorder post transactions- Looking at the Median Price Chart for Single Family homes, the areas that showed an increase in YTD July 2010 from Full Year 2009: Blue River ( 11%), Breckenridge (6%), Dillon Valley( 9%), Summit Cove ( 2%) and Wildernest ( 12%). Keystone had the sharpest decline with median average price in July at -43%. Reviewing the Median Price Chart for Mulit-Family Price, the areas that indicated an increase YTD July 2010 from Full Year 2009: Breckenridge ( 22%), Breckenridge Golf Course( 12%), Copper ( 2%) and Dillon Valley ( 14%). Summit Cove showed the largest decline in Mulit-Family median price at -28%.  Vacant Land trends still continue to decrease with median price.

Summit County Gross Real Estate Volume Graph: July 2010 was weaker than July 2009. We had our hopes up for July from the June numbers.

Residential Market Sales by Price Point: The most active price areas continue to hover between 200K-400K. 6 transactions sold in July for $1M and over. Once again the 3 One Ski Hill Place transactions impacted the higher price ranges.  The Single Family Average price YTD saw a jump in July at $851,346. The YTD 2010 Residential Price is comparable to 2007 this month.

Historical Cost Breakdown: Year to Date 2010 shows 91 more Residential Improved Unit transactions vs. YTD July 2009. A total of 36 One Ski Hill Place Units are included in this figure for 2010 at 499. YTD Residential 2010 totals ( # of transactions and $ volume) are pacing very similar to YTD 2009.

Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 17% compared to YTD July 2009.  YTD transaction volume for ALL transactions recorded is up 18% compared to YTD July 2009.This July is down monetary 19% compared to last July 2009, and down 21% in number of transactions July 2010 vs. July 2009. August numbers are pacing much better!

Market Analysis by Area for July: The Median Transaction price for all of the 19 areas reported by the Clerk and Recorder’s office is $375,000.  If you look at just Residential within all the transactions, the Average Residential Price which includes Single Family and Multi- Family- it’s $635,659. There were 75 transactions total and $38,565,100 monetary volume the month of July.  If you look at the YTD Market Analysis by Area- the Median transaction price is $393,000 and the Average Residential Price is $596,273.

Bank Sales: There were only 2 Bank Sales in July.

Top Lender Graph: Cash sales were high in July- around the 47% mark, up 7% from June 2010. There were 157 Refi’s/Equity loans.

June

Notable Sales in June:

• The highest priced sale this month is for a ski-in/out condominium unit: 6/25/2010 $2,590,000 One Ski Hill Place Condo Unit 8507 – 1521 Ski Hill Road – 4 Brm 4 Bath – 1,912 SF – YOC 2009 – PPSF of $1,354.60.  This is a new construction sale.
• There was also a single family residence: 6/1/2010 $1,975,000 Trappers Glen Subd Lot 2 – 1015 Four O’Clock Road – 6 Brm 6 Bath – 3,784 SF – YOC 1998 – Landsize = .8310 AC.  PPSF of $521.93.

One Ski Hill Place Condo continues to impact the market this month with the following in sales for June 2010:

• Gross Volume:  $27,445,000
• Average Price per Unit: $1,372,250
• Number of Transactions:  20
• Average Price PSF: $1,301.11

June Remarks:

• Market Snapshot:  Overall, for the 19 different areas that the Clerk and Recorder post transactions- the gross Median Single Family price in June for 6 months compared to the full year of 2009 was down 10% ($624,650-YTD 2010 compared to $695,750-2009), Median Price of Multi-Family was up 6% ( $350,000-YTD 2010 compared to $330,000-2009), and Vacant Land was down 22% ( $265,000-YTD 2010-$340,000-2009).
• Summit County Gross Real Estate Volume Graph: June 2010 saw a huge spike compared to June 2009- the 20 One Ski Hill Place Transactions played a role in the increase and monetary volume. Monetary volume was 146% up compared to June 2009 with One Ski Hill Place included. Monetary volume was up just 65% if we take One Ski Hill Place out of the equation, with is still a big improvement over last June 2009. Transactions were up in June with One Ski Hill Place compared to June 2009 by 73%, without One Ski Hill Place, the transactions were up 47%- so overall June showed signs of improvement in Summit County.
• Residential Market Sales by Price Point: The most active price areas in June were under $200K! One Ski Hill Place transactions impacted the higher price ranges.  The Single Family Average price YTD continues to be comparable to the full year of 2006.
• Historical Cost Breakdown: Year to Date 2010 shows 119 more Residential Improved Unit transactions vs. YTD June 2009. Gross Volume has also increased by $60,468,800 YTD 2010 vs. YTD 2009.
• Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 25% compared to YTD June 2009.  YTD transaction volume for ALL transactions recorded is up 27% compared to YTD June 2009.The numbers still don’t compare to anything that we saw since 2004, 2005, 2006, 2007, 2008 or 2009 YTD.
• Market Analysis by Area YTD 2010: The only two areas in Summit that showed an increase with the Median Residential Price were Breckenridge and Summit Cove in June. The three most active areas in June both with $ and # of transactions: Breckenridge- with 20 transactions included in the 50, Breckenridge Golf Course area and Silverthorne/Wildernest-which might explain the high number of Residential transactions under $200K.
• Market Analysis by Area YTD 2010 for June: The average price per square foot in the 19 areas reported by the Clerk and Recorder’s office is $343, with Median Transaction Price at $553,536.  The Median Residential Price is $448,000.
• Top Lender Graph: Cash sales hover around the 40% mark. There were 309 loans recorded in June: 83 of those were related to sales- 60% of the 138 recorded sales in Summit. There were 186 Refi’s/Equity loans, 40 loans were related to timeshares

May

Notable Sales in May:

• One Ski Hill Condominiums started closing with 13 Sales closing by May 31st, 2010
  • Gross Volume: $19,389,000
  • Average Price per Unit: $1,491,462
  • The highest Priced Sale in May was: 5/28/2010 $2,690,000 One Ski Hill Place Condo Unit 8509. There is no description yet available at the Assessor’s Office.
  • 4 of the Sales over $2M are for One Ski Hill Place Condos.

May Remarks:

• Market Snapshot : Several areas show the Median Single Family price has increased YTD May compared to the full year 2009: Blue River 11%, Breckenridge 6%, Dillon Valley 13%, Summit Cove 14% and Wildernest 14%
• Market Snapshot : Several areas show the Median Multi Family price has increased YTD May compared to the full year 2009: Breckenridge 6% (OSHP), Copper 6%, Dillon Valley 19% and Summit Cove 2%
• Summit County Gross Real Estate Volume Graph : May 2010 paced VERY similar to May 2009.
• Residential Market Sales by Price Point : The most active price areas in May were $200K to $300K; however, One Ski Hill Place transactions impacted the higher price ranges. The Single Family Average price YTD is comparable to the full year of 2006.
  
• Historical Cost Breakdown : 325 transactions with $184,867,400 monetary volume vs. May 2009 with 263 transactions with $171,512,200 monetary volume for RESIDENTIAL transactions. YTD May 2010 was more positive than last YTD May 2009. The price ranges 200K-300K in YTD May 2010 show 69 transactions, $17,600,800 monetary volume, YTD May 2009: 39 transactions, $10,091,200 monetary volume and YTD May 2008: 95 transactions with $24,378,800 monetary volume.
• Market Analysis % Change : May 2010 has a -1% difference from May 2009 in monetary volume, however, there is a 7% increase in May 2010 vs. May 2009 in transaction numbers- once again showing how flat May 2010 was to May 2009. Positive news: YTD May 2010 shows a 4% increase in monetary volume compared to YTD May 2009, and a 20% increase in the amount of transactions from YTD May 2010 to YTD May 2009.
• Market Analysis by Area May 2010 : There are three areas in Summit County that show an increase over April 2010 with Median Residential Price: Breckenridge ( due to One Ski Hill Place), Keystone and Wildernest areas. The most active areas with number of transactions and monetary volume were Breckenridge (32: $31,463,800- OSHP plays a big role), Keystone (11: $6,165,000) and Silverthorne (13: $8,207,300).
• Market Analysis by Area YTD 2010 : The Average Residential Price per SF for the last 5 months in 19 reported areas from the Assessor’s Office is $300 PPSF. The Median Residential price is $441,500.
• Top Lender Graph : Cash sales are higher than last year due to the financing challenges at 46% in May. There were 51 loans related to actual sales or 54% of the sales transactions.
• Bank Sales : There was one recorded Bank Sale in May in Summit County.
• May 2010 Foreclosure Process Breakdown: There were 39 Notice of Election properties, 0 Certificate of Purchase and 5 properties that have gone to the Public Trustees Deed in May.
• YTD Summary of Foreclosure Actions: YTD there are 134 Fee Simple Foreclosure actions, 67 Foreclosure Timeshare actions and Foreclosure 24 Unknown actions: Breakdown: SF: 69, MTF: 49. Vacant Land: 9, Development: 2, Commercial: 5, Unknown: 24 and 67 Timeshares.

April

Notable Sales in April:

• Highest sale: 4/27/2010: $1,740,000 Sunbeam Estates Subd #3 Lot 40 – 121 Klack Road – 5 Bedroom 6 Bath – YOC 2006 – 4,620 SF on .539 AC.  PPSF is $376.62.
• There was a rather low sale in the Keystone area: 4/2/2010 $255,000 Loveland Pass Village Subd Lot 35 – 0277 Rasor Drive – 2 Brm 1 Bath – YOC 1970 – 896 SF on .1194 AC.  PPSF is $284.60.

April Remarks:

• Summit County Real Estate continues at a steady pace. Each month shows signs of improvement with number of transactions and monetary volume. Monetary volume reflects an 8% increase over April 2009, a 6% increase YTD in April 2010 from YTD April 2009. Number of transactions are 34% higher than last April 2009, with a 20% increase in transactions YTD April 2010 vs. 2009.
• The median Single Family price YTD is 13% lower than the full year of 2009. 2009=$695,750 vs. YTD $607,500. The median Mulit-Family shows a 6% decrease in price at $309,000 vs. full year 2009 at $330,000.
• The most active price points in Summit County in April were in the$200K-$400K price range with 25% of the Residential Improved Unit percentage gross in April. $400,000 to $500,000 reflects 16% of the percentage gross volume.
• The YTD Single Family price April 2010 ($734,020) is close to the year 2006 full year at $737,253.
• YTD April Residential Volume is pacing stronger that YTD April 2009 with 239 transactions in 2010 vs. 194 transactions in 2009. You will notice the monetary volume is pretty low for the number of transactions indicating that the price points are lower. (YTD April 2010: $123,069,400 vs. YTD April 2009: $117,609,100)
• YTD Residential Volume had 163 transactions in 2010 vs. YTD 2009 92 transactions, with both years showing similar $ Gross Volume with 2010: $85,312,400 and 2009: $83,877,000- another indicator that prices are coming down in Summit County.
• Keystone was active in April with 14 transactions, Breckenridge 23 transactions and Frisco 11 transactions. YTD: Breckenridge shows 39 transactions, Frisco: 37, Keystone: 39 Silverthorne: 20 and Wildernest: 27.
• YTD Median Residential Price for all transactions is $415,000 at $314 per square foot as the average.
• There was one recorded Bank Sales in April in Summit County.
• There were a substantial number of cash transactions in April-48% of the real estate closings.  There were also quite of few refinances: 182 of the 409 loans.
• There are 31 Notice of Election properties, 3 Certificate of Purchase and 9 properties that have gone to the Public Trustees Deed in March.
• YTD there are 130 Notice of Election properties, 12 Certificate of Purchase and 39 Public Trustee Deeds in Summit County.

March

Notable Sales in March:

• The highest Sale in March is for a Single Family home in Summit Estates: 3/12/2010 $2,445,000 Summit Estates Subd #4 PH V Lot 59 – 2832 Estates Drive – 5 Brm 7 Bath – YOC 1999 – 5,935 SF on 2.27 AC.  That is $411.96 PSF
• Another high Lot Sale came through:3/20/2010 $1,175,000 Western Sky Ranch Subd #4 Lot 7 – 265 Southern Cross Trail on 3.2527 AC which is $351,238.36 per AC.

Land Title Remarks on the above:

• The prices in Summit County reflect a significant decrease: The Median Single Family average price YTD vs. 2009 Full Year is 11% down, the Median Multi-Family average price is 10% down and the Median Residential Land Price is 41% down.
• March 2010 is flat with monetary volume to March 2009.
• The most active price points in Summit County in March continue to be in the the$300K-$500K price range with 31% of the Residential Improved Unit percentage gross in March.
• March was slow for $1M and over Residential Improved Unit transaction movement.
• YTD Residential Volume had 163 transactions in 2010 vs. YTD 2009 92 transactions, with both years showing similar $ Gross Volume with 2010: $85,312,400 and 2009: $83,877,000- another indicator that prices are coming down in Summit County.
• March 2010 is flat in monetary volume from 2009.  YTD, up 6% for 3 months in 2010 vs. 2009. March 2010 transaction volume is up 21% from last March 2009. YTD, up 14% for 3 months in 2010 vs. 2009. This trend is another indicator that prices are going down, and lower priced inventory is moving quicker than higher end inventory in Summit County.
• The Average Price History for Real Estate Transactions based on the Residential Improved Unit Price Point Summary show that the Average Single Family price is similar to Full Year of 2006 ( 2010-$739,807 and 2006-$737,253), same with Multi- Family ( 2010-$368,479 and 2006-$333,501).
• YTD Median Residential Price for all transactions is $419,000.

Feburary

• The Median Single Family average price YTD in 2010 is up 9% compared to the full year of 2009. Multi-Family average price YTD is down 12% compared to the full year of 2009.  Vacant Land Average Price YTD is only down 1% YTD compared to full year of 2009.
• Keystone and Breckenridge were the two most active locations in Summit County with transactions in February. Keystone had 11 transactions and Breckenridge had 13 transactions.
• There were 6 Residential properties that were recorded for $1M and over in February and combined they accounted for 29% of the gross sales volume.
• There are 98 YTD Residential Transactions in 2010, vs. the 92 last year at this time.
• The most active price point remains in the $200K-$300K price ranges for Single Family and Multi-Family Residential Improved Units.
• The YTD Market Analysis with all recorded transactions in February shows the Residential Median average to be $367,500 with $321 per square foot as the average.
• Cash transactions were down to 35% this month compared to the past months with around 40%, we are seeing more Owner Carry transactions.
• There are still only two recorded Bank Sales YTD in Summit County.
• There are 52 Notice of Election properties, 1 Certificate of Purchase and 23 properties that have gone to the Public Trustees Deed YTD.
• February 2010 is up 32% in monetary volume from 2009.  YTD, up 10% for 2 months in 2010 vs. 2009.  February 2010 transaction volume is up 20% from last February 2009. YTD, up 10% for 2 months in 2010 vs. 2009.

Land Title Resort Index for the 3rd Quarter of 2010

The above link will open a .PDF file containing the following four pages for Summit County and other nearby resort real estate markets:

• Gross Transaction Chart-Gross recorded real estate sales volume for all transactions in the 5 counties YTD 2010, 2009, 2008, 2007, 2006, 2005 and 2004 full years, with data points shown for $ volume from 2010, 2007 and 2004.
• Comparison Charts- 4 charts: Number of Recorded Sales Transactions by County YTD 2010, Full Years 2009 through 2008, Full Year 2009 and YTD 2010 Average Price Per Square Foot Sales Summary for Single Family and Multi- Family Property Types , Average Sales Price: Single Family 2008  through YTD 2010 and Average Sales Price: Multi-Family 2008  through YTD 2010.
• Monthly Data-showing YTD Number of Transactions, Single Family Average Price Index, Multi- Family Average Price Index and Single Family- Mulit-Family Average Price Per Square Foot Comparisons.
• Monthly Data for the Comparison Charts-Gross Volume Transaction Report for all Recorded Transactions from 2006 through YTD 2010, and Gross Transaction Report Summary with Year to Date Comparisons through YTD 2010 through 2004.

Highlights by County:

• Eagle: - Highest Gross Volume numbers for 2010, also highest overall gross volume gain from 2009.  There is tangible upward movement in the Multifamily Sector both in Average PPU & Average PPSF.
• Garfield: - Average PPSF and Average PPU for Single Family is up over the prior period (through the Second Quarter) which maybe showing the beginnings of some recovery.  Gross Volume is still holding slightly up over last year.
• Pitkin: - Lowest number of Bank Sales!   Also, highest average SF Price and MF Price among counties, also highest Average PPSF.  (though all of these averages are lower than last year)
• Routt:  - Highest Number of Transactions (due to a burst in Interval sales).  Second highest gain in gross volume from 2009.  Multifamily sales are in an upward trend both in Average PPU & Average PPSF.
• Summit: - 2nd lowest number of Bank Sales, Highest number of Multifamily transactions – along with a tangible upward trend in Average PPSF for Multifamily.  Also Average PPU is showing upward movement from last period for Single Family.

Year end 2009 Land Title Summit County Colorado specific data (.PDF format)

Summit County Residential Price Index YTD : Average sales prices for Single Family, Multi Family, and Vacant Land properties comparing 2006, 2007, 2008 & 2009. Year end 2009.

 

Summit County 2004-2009 Graph Comparison : Perhaps the most useful of the charts and graphs for showing real estate sales activity for the market as a whole during the past 6 years. Year end 2009.

 

 

Cost Breakdown by month: for Residential Improved Units (New Construction, Resales, Gross Residential Price Index and YTD Gross Residential Price Index), also shows Full Year 2009, 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price. Year end 2009.

Cost Breakdown YTD : for Residential Improved Units and the Cost Breakdown for the full years of 2007 and 2008 for comparison.
Year end 2009






Market Analysis by Month : Month to Month Comparison by Monetary Volume and Number of Transactions with % Change from 2004-2009. Year end 2009

Market Analysis by Area YTD : Year end 2009

 

Market Snapshot : This worksheet breaks down all of the residential activity by property type and areas in Summit County. We utilize ONLY “Arms- Length” transactions for this report. The “Arms Length” residential activity is broken out into Single Family, Multi- Family and Vacant Land transactions. A comparison from a full year of 2008 (all sales transactions that qualify for the full year) along with % growth or loss by area is also shown in this report. The current year shows sales through December 2009 from the Summit County Clerk and Recorder’s & Assessor’s Office- no MLS data is utilized in this worksheet. Year end 2009

 

22 Year Average Price Housing Index for Summit County : Reflecting the average price for all residential property types- single family, Duplex-Triplex, Townhome and Condominiums.

Year end 2009

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22 Residential Gross Volume Housing Index for Summit County : Reflects the monetary volume on the Cost Breakdown above.

Year end 2009

 

 

Summit County Lenders Chart : Reflecting the total of all loans for 2009 as a summary.
Year end 2009

 

 

Land Title remarks on Year end 2009 data:

• Summit County real estate ends 2009 on a high note with December being the strongest month at $102,685,700 in Monetary Volume and 178 transactions.
• Summit County ended the year with $683,009,100 in monetary volume. This is 36% shy of last year’s total. Transactions in 2009 totaled 1245, 32% shy of last year’s total.
• The areas that show an increase in median average price for Single Family 2008 to 2009- Breckenridge at 14%, Keystone at 27%, Peak 7 ( Crystal Peak Lodge) at 33%, Silverthorne at 20%,- the total Median Price Single Family Gross Live Median increased by 4%.
• The areas that show an increase in median average price for Multi-Family 2008 to 2009 –Copper Mountain at 21%, Silverthorne at 2% and Summit Cove at 22%-the total Median Price Multi-Family Gross Live Median decreased by 10%
• The total Median Price for Vacant Land only decreased from 2008-2009 by 3%.
• There were 136 Residential Improved Units that sold for $1M and over in 2009 vs. 177 in 2008 and 208 in 2007.
• The most active Residential Price ranges in December where 200k-300k 21 transactions, 300K -400K 22 transactions, 400K-500K 21 transactions and 500K-600K21 transactions.
• The average price history for Real Estate transactions on the Residential Improved Unit side still hold steady with 4 full years of historical data: Single Family continues to show an increase: $905,030, Multi-Family, slight decrease at $398,051- relatively flat, and Vacant Land with a slight decrease- relatively flat.
• Year to date Residential Price Index 2009 Single Family: 392, vs. 2008 with 470, 801 in 2007 and 874 in 2006. Multi- Family in 2009-655, 1001 in 2008, 1779 in 2007 and 1978 in 2006. Total volume for $ is obviously lower in 2009 compared to the past 3 years.
• The YTD Price Point Summary (Cost Breakdown) for 2009 indicates a total of 1047 transactions and $615,495,400 vs. 2008 1471 transactions with $ 856,723,200 and 2007 at 2581 transactions with $1,363,450,600.
• The Year to Date 2009 top 6 number of transactions: Breckenridge at 257, $181,981,900, Keystone at 173 transactions, $80,782,900, Frisco at 127 transactions, $57,275,800, Silverthorne at 117 transactions, $76,154,700 ,the Breckenridge Golf Course area at 116 transactions, $87,612,700 and Wildernest with 114 transactions, $34,269,100.
• Cash transactions are still averaging around 40% each month.
• Top Sale in Summit County: 12/21/2009 $8,285,000 Timber Trail Subd Lot 9 – 382 Timber Trail Road – 7 Brm 9 Bath – YOC 2006 – 6,565 SF on .545 Acres which is $1,262.00 PSF located in Breckenridge on Peak 8.

Land Title "Resort Index" data (.PDF format)

There are several counties within the State of Colorado which can be considered resort real estate markets. The following data compares the real estate sales within and between the following four Colorado resort counties:

• Eagle County : Containing the ski resorts of Vail and Beaver Creek, this is the market which is the closest (and perhaps most similar) to that of Summit County.
• Garfield County : Contains the resort destination town of Glenwood Springs. Glenwood Springs is known for its hot springs and this is also the town which services the Aspen and Snowmass ski areas.
• Pitkin County : Contains the Aspen and Snowmass ski areas.
• Routt County : Contains the Steamboat ski area in Steamboat Springs.
• Summit County : The county which is the focus of this web site containing the ski areas of Breckenridge, Keystone, Copper Mountain as well as the towns of Frisco, Dillon, Silverthorne, Blue River, Heeney, and Wildernest.

Comparison Charts- 4 charts: Number of Recorded Sales Transactions by County Full Years 2009 through 2007, Full Year 2009 Average Price Per Square Foot Sales Summary for Single Family and Multi- Family Property Types , Average Sales Price: Single Family 2007 through 2009 and Average Sales Price: Multi-Family 2007 through 2009.
Year end 2009

 

 

Gross Transaction Chart : Gross recorded real estate sales volume for all transactions in the 5 counties for the full years of 2009, 2008, 2007, 2006, 2005 and 2004, with data points shown for $ volume from 2009, 2007 and 2004. Year end 2009

 

Monthly Data for the Comparison Charts : Gross Volume Transaction Report for all Recorded Transactions from 2006 through 2009, and Gross Transaction Report Summary with Year to Date Comparisons through 2004. Year end 2009

 

Summary Data : showing Number of Transactions, Single Family Average Price Index, Multi- Family Average Price Index and Single Family- Mulit-Family Average Price Per Square Foot Comparisons. Year end 2009

 

Land Title Resort Index for the 1st Quarter of 2010