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The Story Behind the Stats: November 2018 Market Update

It’s a mixed report on the market in Summit County this month. But all indicators still point to a very healthy market. Everyone has an opinion, but I have found that the numbers speak the greatest truth. Play the quick video above for my analysis and the story behind the numbers.

Thanks to Land Title here are the latest stats to consider:

Market Analysis by Area for September 2018: There were a total of 259 transactions and $161,902,700 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $656,093, average residential price was $724,882 and average residential PSF was $478.
Year to Date Market Analysis ( 9 months): Monetary volume in YTD 2018 totaled $1,262,111,655 with 1866 transactions: $705,136 average transaction price, $739,194 average residential price and average residential PSF $467.
Market Snapshot for Years 2018 vs 2017: Average Indicators for $: Single Family +3%, Multi- Family +9% and Vacant Land +14%. Median Indicators for Single Family +6%, Multi- Family +8% and Vacant Land +16%.
Market Analysis % Change 2018: Monetary volume ($161,902,700) in September 2018 was up only 1% from September 2017. Transactions (259) were up 4% from September 2017. YTD 2018 monetary volume is up 11% from YTD 2017, and transactions are up 2% YTD 2018 compared to YTD 2017.
Residential Cost Analysis: Residential volume in September had 196 transactions with $142,076,900 gross volume. There were 38 properties that sold for $1M and above in September The most active price points were between $300K-$500K with 58 transactions. There were 78 Single Family, 118 Multi-Family and 18 Vacant Land transactions.
Average Price History by Type 2018: Average price for residential Single Family: $1,029,123, Multi- Family: $523,774 and Vacant Land: $318,444.

As mentioned in the video above, the best deals right now are the homes that were recently price reduced. See those here.

My team and I are here to serve you. Please reach out with any questions or requests for sales or rental histories on your favorite properties.

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