Summit County CO Market Analysis for December 2012
Land Title Guarantee Company just released its monthly Summit County CO market analysis for December 2012. Historically, since it’s in the midst of the holiday season, December is usually one of the quieter times of the year for real estate transactions. However, December 2012 turned out to be the third best month of the entire year.
As part of its analysis, LTGC provided the monthly percentage change in total dollar volume & total number of real estate transactions across Summit County. Comparing December 2012 to the month of December in recent years, the totals were as follows:
- December 2008 – $61,054,700 generated from 98 transactions
- December 2009 – $102,685,700 generated from 178 transactions
- December 2010 – $70,755,100 generated from 154 transactions
- December 2011 – $61,627,700 generated from 140 transactions
- December 2012 – $87,217,800 generated from 185 transactions
Looking at these statistics, the number of real estate transactions in Summit County in December 2012 increased by 32% over December 2011. The total dollar volume of sales in December 2012 surged 42% over December 2011. For number of property transactions, this past month was also the best December since 2008.
Turning to review the whole of 2012, there were a total of 1624 real estate transactions that amounted to $772,913,600 in overall gross dollar volume. 2012 finished with the average residential price at $512,592, median residential price at $400,000 and average price per square foot at $291. The percentage of total real estate dollar volume – broken down by area in Summit County – was as follows:
- Breckenridge (Blue River to Farmer’s Corner) – 46% of the total
- Copper – 3% of total property sales
- Frisco – 11% of total property sales
- Keystone – 12% of total property sales
- Silverthorne – 12% of total property sales
In comparison to 2011, the amount and number of Summit County property transactions both trended significantly upward. Overall, 2012 finished with an increase of 13% in total monetary volume for property sales and 12% over last year with total number of real estate transactions. Furthermore, in examining a graph showing the average price history for real estate transactions from 2006 to 2012, the average price for single family homes and multi-family units in Summit County both rebounded to show an increase over 2006 numbers. In sum, the Summit County real estate market had a terrific year in 2012, and there’s reason to be optimistic about these trends extending into 2013.
If you’re interested in buying a Summit County home, there are of course plenty of great opportunities available. Please don’t hesitate to contact Philip for help.
Luxury Summit County Listings with Price Drop in the Past Month
The market analysis information and representations regarding market analysis above are based in whole or in part on information provided by Land Title Guarantee Company. Although the information above is believed to be true and correct, the information cannot be guaranteed. Therefore, neither SummitRealtor.com nor Land Title Guarantee Company can in any way be held responsible for its accuracy. The data above does not reflect all real estate activity in the market.