Jan
25

Summit County Market Analysis

 

One of our local title companies, Land Title, has released their December Year End 2019 Market Analysis. Land Title is the source of this market analysis and the data comes from actual recorded transactions at the County Clerk and Recorder’s Office. The information is not directly related to MLS data. Continue below to see what happened in 2019! If you have any questions about our market, don’t hesitate to give one of our brokers a call.

 

  • Market Analysis by Area Full year 2019: There was a total of $1,898,948,470 (record high) with 2442 transactions. The average transaction price was $811,532, the average residential price was $820,957 and the average PPSF was $497.
  • Market Snapshot for FULL Years 2019 vs 2018:  Average Indicators for $: Single Family +11%, Multi- Family +7% and Vacant Land -6%. Median Indicators for Single Family +9%, Multi- Family +11% and Vacant Land -6%.
  • Market Analysis % Change  FULL Year 2019: Monetary volume ($181,553,368) in December 2019 was up 27% from December 2018. Transactions (230) were up 29% from December 2018.  Full Year 2019 Monetary Volume ended with a new Summit record high and 9% ahead of  2018, and transactions were down 3 % compared to 2018.
  • Residential Cost Analysis:  Residential volume in December had 192 transactions with $160,539,800 gross volume. There were 52 properties that sold for $1M and above in December.  There were 83 Single Family, 109 Multi-Family and 10 Vacant Land transactions. Full Year 2019 ended with 718 Single Family, 1215 Multi- Family and 132 Vacant Land sales.
  • Average Price History by Type- FULL Year 2019: Average price for residential Single Family: $1,262,929 ( record high), Multi- Family: $559,776 ( record high) and Vacant Land: $344,945.
  • Comparative Historical Cost Analysis Comparison 2019-2018-2017: In 2019, there were 1933 residential transactions and $1,586,910,706 gross $ volume with 454 properties selling for over $1M. In 2018, there were 1994 transactions with $1,499,765,478 gross $ volume with 381 properties selling for over $1M. In 2017, there were 2185 transactions with $1,499,595,769 gross $ volume with 342 properties selling for over $1M.

 

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