NOVEMBER 2016 NEWSLETTER

NOVEMBER 2016 NEWSLETTER


Summit County's ONLY Exclusive Buyer's Agency


November 2016
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Dear Chris, 
 
As the holidays quickly approach we are especially thankful for all of our wonderful clients and friends. We wouldn't be in business without your support!
 
September 2016 Market Stats
  • Market Analysis by Area for September 2016: There were 297 transactions and $174,179,706 in monetary volume. Some trends for all 18 reported areas: $596,761- Average transaction price, $612,119- Average Residential price and $385- PPSF, all up from July and August 2016.
  • Year to Date Market Analysis (9 months): Monetary volume was $951,530,665 with 1752 transactions. Average transaction price-$552,761, Average residential price-$569,158 and PPSF-$368.
  • Market Snapshot for Years 2016 vs 2015:  Average Indicators for $: Single Family +8%, Multi- Family 0% and Vacant Land -10%. Median Indicators for $: Single Family +8%, Multi- Family +3% and Vacant Land -4%.  
  • Market Analysis % Change YTD 2016 Data (9 months): Monetary volume ($174,179,706) in September was up 5% compared to September 2015. Number of transactions (297) was fairly flat at -1% in September compared to September 2015. YTD 2016, monetary volume is pacing flat at -1% compared to YTD 2015 and transactions continue  that same trend at -1% compared to YTD 2016. There continues to be a shortage of inventory in Summit County.
  • Residential Market Sales by Price Point: Residential volume in September had 243 transactions with $148,744,985 gross volume. There were 29 properties that sold for $1M and above in September. The most active price points were up from the past few months. They were between the $400K-$500K (49) range. There were 87 Single Family, 156 Multi-Family and 16 Vacant Land transactions in September.
  • Comparative Historical Cost Analysis ( 9 months): There were 1463 residential transactions and $832,677,478 volume with 150 properties selling for a $1M and over-compared to 2015, there were 1438 transactions and $784,072,868 gross volume, 140 properties at $1M and over and in 2014, there were 1189 transactions with $598,246,081 gross volume, 91 properties at $1M and over. 
  • Average Price History by Type (9 months): Average price for residential Single Family: $922,641, Multi- Family: $400,798 and Vacant Land: $336,198.
  • Top Lender Graph: There were 648 loans in September, 70% of the loans were related to sales, there were 177 REFI's and 264 loans were timeshare related. 30% of the real estate closings were cash transactions. 
  • Market Highlights: Please see page 10 of the Market Analysis- You can note the higher priced sale in September in the Lewis Ranch area at Copper and a Waterhouse Condo for highest PPSF. There were no bank sales in September.
  • Foreclosures: There was only 1 foreclosure Fee Simple property in September.  
  • Purchaser Profile Abstract:  Upper end purchasers totaled 31 in September. Our buyers for real estate transactions were the Front Range demographic at 38% of our market, 26% are "local" and 36% are out of state buyers  with 0% International. There is a new page 15 with the Purchaser Detailed Profile for specifics on our Out of State buyers.
  • Land Title New Development Summary: This (page 16) shows all the new construction each month with 17 in September.

Third Quarter Stats
  • Median Residential Price up 4.87% from Q3 LY numbers
  • Average Residential Price up 1.97% from Q2 LY numbers
  • Gross Sales Volume down 1.35% from LY numbers
  • Real Estate Transactions up 3.12% from Q3 LY numbers
  • Buyer Profile: 31.91% local, 37.1% Front Range, 30.59% Out-of-State, 0.40% International
PROVIDED BY LAND TITLE OF FRISCO
 
Meet  Buyer's Resource BUYERS
Introducing John and Eva Leon, who moved to Frisco in November 2015. Todd helped them locate an ideal home for their situation, as John's brother Mark also lives with them in his lock off apartment downstairs.

John is a retired Shell engineer, while Eva currently works from home in the mortgage industry. She loves the wonderful mountain view from her home office, which she finds to be a huge upgrade from her former Houston office.

John and Eva spend a good deal of their time pursuing outdoor and volunteer activities. The Leon's also vigorously support the local economy via our restaurants and taverns.

"Working with Todd and Buyer's Resource was easy and enjoyable!"  ~ John 


  
 
 
SHOULDER SEASON...?

There's a new normal going on in Summit County. We no longer have a Fall shoulder season. It seems a day doesn't go by without a short discussion about "the head count on Main Street"; "How busy the restaurants are in early November ?"; "How full the parking lots are at the hotels in the off season ?

We no longer have ghost towns after the aspen leaves have disappeared and before Thanksgiving, the traditional start of the ski season. Not as many signs on business doors saying "Closed for the off Season" or "See you in December", and fewer 2 for 1 restaurant ads.

Note...
Summit County occupancy was up nearly 20% in September versus 2015.

In bookings for travel to mountain destinations for October and the first part of winter 2016/17 are very strong.

Summit County on-the-books occupancy for October 2016 is up 7.9 percent compared to 2015 

More folks in Denver; more beds in Summit County and a stronger economy are adding up to shorter shoulder seasons.
 
Good Reads...

 

 
Say what....      
  "Give a lot, expect a lot, and if you don't get it, prune."   
Thomas J. Peters
 

About Buyer's Resource / Eby Real Estate

 

 Honest        Knowledgeable       Patient


Back in 1987 Buyer's Resource Founder Chris Eby recognized the inherent conflict of interest in the traditional real estate model that promotes brokerages doing both sides of real estate transactions. Then, as now, the only solution to eliminating the deceptive, conflicted nature of the traditional real estate model is to pick one side of the transaction, and specialize on that. We've been working for Buyers, and only Buyers, ever since.

Colorado native Todd Sandoval joined the team in 1996 and our newest buyer's agent, Kelsey Withrow, a Summit native, joined the team in 2014. We are proud to say that we are beginning our 29th year of representing buyers--- exclusively.
  
Buyer's Resource is an Exclusive Buyer Agency. We never list properties and are committed to advocating for and protecting the interests of real estate buyer at all times.
  

Buyer's Resource / Eby Real Estate

Office:          (970) 668-5165

Toll Free:     (800) 666-7709

Fax:              (970) 668-0561

 

www.summit-realestate.com

 
 
Chris Eby

 
Todd Sandoval

Kelsey Withrow



Other News

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