NEWS

Land Title Guarantee Company May 2010 Market Analysis from Summit County

Date: Jun. 29th, 2010
Contact: Ryan Sondrup Phone: 970-368-4710

Land Title: May 2010 Market Snapshot: May - CLICK HERE

Below is a break down of each graph in the above link.  If you have any questions please feel free to contact us at any time:

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 Sale: There was one recorded Bank Sales 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.

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office for that particular month. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate. If you choose to utilize this marketing information in any publications or websites, please make sure you are quoting Land Title as your source.