May 2011 Market Highlights

Notable Sales in May 2011:

The highest priced sale in May was a commercial property:

5/10/2011 $2,430,000 Ten Mile Subd Lot A with Easement & ROW – 0865 North Summit Boulevard, Frisco aka Taco Bell.  This commercial building is 2,661 SF in Size, and has .63 AC Land. It was built in 2003.  PPSF is $913.19

The highest priced non-commercial sale in May:

5/23/2011 $2,250,000 Lewis Ranch at Copper Mountain Subd Lot 1 – 0988 Beeler Place – 3 Bedroom 5 Bath YOC 2006 with 4,742 SF Living Area on .18 AC Land. PPSF is $474.48.  This is a new Construction Sale.

The highest PPSF in May:

5/17/2011 $2,025,000 One Ski Hill Place Condo Unit 8410 – 1521 Ski Hill Road, Breckenridge – 3 Bedroom 3 Bath YOC 2008 with 1,593 SF Living Area.  PPSF is $1,271.19.

May 2011 Notes:

• Summit County Gross Real Estate Volume Graph: May was a decent month, topping the number of transactions over May 2010, with slightly less gross monetary volume due to the lower prices in Summit County.

• Market Analysis by Area for May:  There were 107 transactions in May with $56,177,600 in monetary volume. Breckenridge normally tends to have the majority of transactions each month with 26 and $17,988,800 monetary volume in May. The Median Residential Price for all 19 areas combined is lower this month at $400,000.

Market Analysis by Area YTD: As of this May YTD, there have been 491 transactions with $249,258,800 monetary volume, the median residential price is $408,750 for all 19 areas with and average residential PPSF is $321 for all 19 areas.

• Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 once again shows an increase of 1%.  The Median Price for Multi-Family from 2010 to YTD 2011 is flat at 0% and the Median Residential Land price is continues to fall with a 44% decrease 2010 to YTD 2011. The Breckenridge Golf Course saw a big spike from YTD 2011 from full year 2010 at 15% increase Median Single Family and Keystone also saw a spike at 86%! Frisco saw a spike in Median Multi- Family with a 15% increase.

• Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 20% compared to YTD 2010.   YTD 2011 transaction volume for all transactions recorded is up 26% compared to YTD 2010.  Monetary Volume for May 2011 is down 11% compared to May 2010 and transactions for May 2011 are up 14% compared to May 2010.

• Residential Market Sales by Price Point: There were 84 Residential Improved Units sold in May with $48,737,100 gross volume. 35% of the residential sales are $500K and under. There were 14 Residential sales over $1M ( same as April). There were 34 Single Family transactions totaling $28,372,600 and 50 Multi-Family transactions totaling $20,364,500 in May.

• Average Price History: YTD Single Family Residential Average Price paces at an increase this month YTD at $780,637, Multi-Family Residential is flat to last month’s chart at $409,389 and Vacant Land Residential continues to drop at $261,997.

• Historical Cost Breakdown: In YTD 2011- there were 384 Residential Improved Unit Transactions  (Gross- $212,892,600) vs. 2010 YTD- 299 transactions (Gross- $171,410,500)  and YTD 2009-263 transactions (Gross -$171,512,200). YTD 2011 is showing steady signs of improvement with more transactions and higher gross volume over the past years this same time.

• Cash sales were 53% in May. There were a total of 444 loans in May. 50 loans were related to sales, there were 168 REFI’s and 226 Deed of Trust were recorded for timeshare sales. Cash transactions are about half of the number of sales transactions in May.

• Bank Sales:   There were 14 Bank Sales in May, totaling $7,368,400 in Gross Volume or $526,314 per unit. ( a little higher than April) This accounts for 13% of the overall gross volume in sales. YTD, there have been 58 Bank Sales totaling $26,520,500 in Gross Volume or $457,250 per unit, this accounts for 11% of the gross volume sales.

• Foreclosure Info: May- There were 14 Fee Simple properties that made it to the PTD process. YTD: 136 FEE SIMPLE properties are in the Foreclosure PROCESS. Blue River, Silverthorne and  Breckenridge show the highest numbers of Fee Simple properties enduring the Foreclosure process.

April 2011 Market Highlights

Notable Sales in April 2011:

The highest priced sales are the assemblage purchase for Lowes in Silverthorne:

4/27/2011 $3,963,000 Bass Auto Park Subd Lot 1 & Sec 12-5-78 Arctic Placer MS #12964 aka 0201 Buffalo Mountain Drive – Two Commercial Properties with a total of 22,986 SF Building Area and 3.8 AC Land Area.  YOC 1986.  PPSF is $172.44.  Purchaser is:  Lowes HIW, Inc.

4/27/2011 $2,750,000 Bass Auto Park Subd Lot A aka Buffalo Mountain Drive (N/A Street Address)  Vacant Commercial Site of 7.4 AC Land Area.  PPAC is $371,622.  Purchaser is: Lowes HIW, Inc.

Highest Priced Residential Sale:

4/29/2011 $2,235,000 Swan River Valley PUD Lot 1, Parcel C aka 2045 Tiger Road – 5 Bedroom 5 Bath YOC 2007 with 4,775 SF Living Area on 3.76 AC.  PPSF is $468.06.  This is a New Construction Sale.

Highest PPSF April 2011:

4/1/2011 $805,000 One Ski Hill Place Condo Unit 8216 aka 1521 Ski Hill Road – 1 Bedroom 2 Bath YOC 2008 with 691 SF Living Area.  PPSF is $1,164.98.  This is a New Construction Sale.

April 2011 Notes:

• Summit County Gross Real Estate Volume Graph: April was actually a great month in Summit County, with $66M Gross Volume, the best so far in 2011.

• Market Analysis by Area for April:  There were 106 transactions in April with $66,323,300 in monetary volume. Breckenridge had 39 transactions, Keystone 13 transactions and The Breckenridge Golf Course area had 10 transactions in April. The Median Residential Price for all 19 areas combined is at $500,000.

Market Analysis by Area YTD: As of this April YTD, Breckenridge has had 126 transactions, Median Residential Price =$551,000, Breckenridge Golf Course area has had 32 transactions with Median Residential Price=$957,000, Wildernest has had 29 transactions with Median Residential Price = $275,000, Frisco has had 28 transactions with Median Residential Price=$400,000, Silverthorne has had 26 transactions with Median Residential Price = $375,000 and Blue River has had 26 transactions with the Median Residential Price=$502,500.

• Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 once again shows an increase of 8%.  The Median Price for Multi-Family from 2010 to YTD 2011 increased to 2%.  The Median Residential Land price is continues to fall with a 44% decrease 2010 to YTD 2011.

• Market Analysis % Change: YTD 2011 Monetary Volume for transactions recorded is up 34% compared to YTD 2010.   YTD 2011 transaction volume for all transactions recorded is up 29% compared to YTD 2010.  Monetary Volume for April 2011 is up 63% compared to April 2010 and transactions for April 2011 are up 16% compared to April 2010.

• Residential Market Sales by Price Point: There were 87 Residential Improved Units sold in April. There were 14 Residential sales over $1M!. The most active price point went up a little bit at $300K to $400K.  YTD there have been 116 Single Family sales totaling $88,722,900, 184 Multi-Family totaling $75,432,600 and Vacant Land at 30 transactions totaling $8,566,900.

• Average Price History: YTD Single Family Residential Average Price this month at $764,853, Multi-Family Residential is at $409,960 and Vacant Land Residential continues to drop at $285,563. All three of these categories are up slightly from March 2011.

• Historical Cost Breakdown: In YTD 2011- there were 300 Residential Improved Unit Transactions  (Gross- $164,155,500) vs. 2010 YTD- 213 transactions (Gross- $109,612,500)  and YTD 2009-194 transactions (Gross -$117,609,100). 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 59% in April. There were a total of 407 loans in April. 43 loans were related to sales, there were 137 REFI’s and 227 Deed of Trust were recorded for timeshare sales.

• Bank Sales:   There were 10 Bank Sales in April, totaling $5,130,000 in Gross Volume or $513,000 per unit. This accounts for 7.73% of the overall gross volume in sales. YTD, there have been 44 Bank Sales totaling $19,152,100 in Gross Volume or $435,275 per unit, this accounts for 9.92% of the gross volume sales. This month’s Banks Sales are about the same as last year.

• Foreclosure Info: April- There were 16 Fee Simple properties that made it to the PTD process. YTD: 109 FEE SIMPLE properties are in the Foreclosure PROCESS. Blue River, Silverthorne and  Breckenridge show the highest numbers of Fee Simple properties enduring the Foreclosure process.

March 2011 Summit County Market Highlights

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 92% compared to YTD 2010.   YTD 2011 transaction volume for all transactions recorded is up 132% 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.

• 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.

February 2011 Market Highlights

-Highest Priced Sale for February 2011:

2/16/2011 $2,685,000 One Ski Hill Place Condo Unit 8516 aka 1521 Ski Hill Road – 4 Brm 4 Bath YOC 2008 with 1,891 SF Living Area.  This is a New Construction Sale. PPSF is $1,419.88.  This is also the highest PPSF paid for February.

-Second Highest Priced sale for February 2011:

2/15/2011 $1,750,000 Bluesky Breckenridge Condo Unit 502 aka 0042 Snowflake Drive – 4 Brm 5 Bath YOC 2005 with 2,362 SF Living Area.  PPSF is $740.90.

-There are two new “affordable” unit projects that are starting to close:

Peak One Neighborhood had 3 Sales, with a gross volume of $787,100 which is $262,367 Average Price per Unit.  This project is located in Frisco.

Valley Brook Townhome had 2 Sales, with a gross volume of $432,000 which is $216,000 Average Price per Unit. This project is located in Breckenridge.

-There were also a couple more new sales in the Water House at Breckenridge:

Gross Volume: $1,155,000, Average Price:  $577,500,# Sales: 2, Average PPSF: $538.93

February 2011 Notes:

• 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).

• Top Lender Graph: 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)”.

January Market Highlights

Notable Sales in January 2011:

-Highest Priced sale in January 2011:

1/3/2011 $3,700,000 Baldy Ridge Estates PUD Lot 7/8 aka 0070 Green Jay Lane – 6 Bedroom 7 Bath YOC 2005 with 6,978 SF Living Area on 3.527 AC Land.  PPSF: $530.24

-Highest PPSF in January 2011:

1/4/2011 $725,000 Lone Eagle above River Run Condo Unit 3003 aka 0280 Trailhead Drive – 2 Bedroom 2 Bath YOC 2000 with 1,018 SF Living Area – PPSF: $712.18

There were some notable sales at the Water House on Main Street Condo in Breckenridge project in January:

Totaling: $7,089,000 in Gross Volume, with an Average Price of $787,667 per Unit, encompassing 9 Sales at an Average Price PSF of $615.37

January 2011 Notes:

• Summit County Gross Real Estate Volume Graph: January 2011 was way up from January 2010 with monetary volume and transactions.

• Market Analysis by Area for January: There were 87 transactions in January with $43,547,400 in monetary volume. The Median Transaction price for all 19 areas reported was $400,000, with the median residential price at $409,000. Valley Brook and Peak One Neighborhood both started closings in January, also Water House in Breckenridge made a difference this month. Overall, January was a good month. The averages are showing an increase as well.

• Market Snapshot: The Median Price for Single Family from 2010 to YTD 2011 increased by 11%.  The Median Price for Multi-Family from 2010 to YTD 2011 increased by 16%.  The Median Residential Land price is still struggling with a 30% decrease 2010 to YTD 2011.

• Market Analysis % Change: 2011 Monetary Volume for  transactions recorded is up 45% compared to 2010.  2011 transaction volume for all transactions recorded is up 61% compared to 2010. Yeah!.

• Residential Market Sales by Price Point: There were 76 Residential Improved Units sold in January. Price points are all over the board with the most sales in the 200K to 400K price point.  A majority of the Valley Brook and Peak One accounted for the New Construction numbers.  The Average prices for the Residential Improved Units are very similar to 2010 with vacant land still much lower. Average Single Family: $767,461, Average Multi-Family-$426,174 and Average Vacant Land $221,950.

• Historical Cost Breakdown: In January 2011- there were 76 Residential Improved Unit Transactions  (Gross- $40,238,800) vs. 2010 January- 19 transactions (Gross- $10,755,600)  and January 2009-48 transactions (Gross -$27,580,600).

• Top Lender Graph: Cash sales continue to climb – 54% this month! There were a total of 945 loans in January. 40 loans were related to sales, there were 280 REFI’s and 625 Deed of Trust were recorded for timeshare sales.

• Bank Sales: There were 11 Bank Sales in January  totaling $4,418,300 in gross volume which accounts for 10.15% of overall gross volume.

• Foreclosure Info: January- There were 4 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)”.