Mar 2011 Summit County Real Estate Sales
Summit County Real Estate Market Data
March 2011
Monthly Data : March 2011 (posted 04/30/2011)
Notable Sales in March 2011:
- The Highest Price for March 2011 is a commercial property: 3/31/2011 $1,850,000 Frisco Station Commercial Condo Units: 5 through 10 Inclusive aka 0842 North Summit Boulevard. The Total Commercial Improved space is: 8,393 SF, built in 1988. PPSF is $220.42 Retail Commercial Use.
- The Highest PPSF for March 2011: 3/24/2011 $930,000 Water House on Main Street Condo Unit 5109 aka 0600 South Main Street – 3 Brm 3 Bath YOC 2008 with 1,405 SF Living Area. This is a New Construction Sale. PPSF is $661.92
March 2011 Notes:
- Summit County Gross Real Estate Volume Graph: March was a positive month, over last year in both gross monetary volume and number of transactions. The first 3 months of 2011 are above last years first quarter.
- Market Analysis by Area for March: There were 102 transactions in March with $44,858,700 in monetary volume. The Copper area is showing some more activity. The most transactions continue to be in Breckenridge.
- Market Analysis by Area YTD: As of this quarter- Breckenridge has had $45,546,400 monetary volume, with 87 transactions, Median Residential Price at $454,750 and average PPSF is $425. Copper shows $4,786,500 with 12 transactions, Median Residential Price $362,500 and average PPSF is $366, Frisco has had $10,330,000 with 22 transactions, Median Residential Price at $400,000 and average PPSF is $241. Keystone has had $11,727,700 with 28 transactions, Median Residential Price $353,100 and average PPSF is $316. Silverthorne has had $7,851,800 with 18 transactions and the Median Residential Price is $338,000 with the average PPSF is $221.
- Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 once again shows an increase of 2%. The Median Price for Multi-Family from 2010 to YTD 2011 decreased by 1%. The Median Residential Land price is continues to fall with the 41% decrease 2010 to YTD 2011.
- Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 22% compared to YTD 2010. YTD 2011 transaction volume for all transactions recorded is up 35% compared to YTD 2010. Monetary Volume for March 2011 is up 20% compared to March 2010 and transactions for March 2011 are up 19% compared to March 2010. This historical graph indicates some positive movement.
- Residential Market Sales by Price Point: There were 72 Residential Improved Units sold in March. There were 4 sales over $1M. The most active price point was $200K to $300K. YTD there have been 74 Single Family sales totaling $52,556,800, 139 Mulit-Family totaling $55,845,900 and Vacant Land at 24 transactions totaling $6,062,000.
- Average Price History: YTD Single Family Residential dropped again this month at $710,227, Multi-Family Residential dropped at $401,769 and Vacant Land Residential continues to drop at $252,583.
- Historical Cost Breakdown: In YTD 2011- there were 213 Residential Improved Unit Transactions (Gross- $108,402,700) vs. 2010 YTD- 137 transactions (Gross- $71,855,500) and YTD 2009-148 transactions (Gross -$83,877,000). YTD 2011 is showing steady signs of improvement with more transactions and higher gross volume over the past years this same time.
- Top Lender Graph: Cash sales decreased to 43% in March There were a total of 491 loans in March. 58 loans were related to sales, there were 188 REFI’s and 245 Deed of Trust were recorded for timeshare sales.
- Bank Sales: Bank sales are slightly down remain about the same in March. Bank owned properties continue to clear out as foreclosure action slow in March. There were 13 Bank Sales in March, totaling $4,630,900 in Gross Volume or $356,223 per unit. This accounts for 10.32% of the over all gross volume in sales.
- Foreclosure Info: March- There were 18 Fee Simple properties that made it to the PTD process. The overall difference for March 2011 compared to March 2010 with Foreclosure actions is 53 vs 62 which is a -14.5% difference- the bank owned properties continue to clear out as foreclosure actions slowed in March.
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