October 2008 Real Estate Highlights:

• October was not a bad month, posting the highest average transaction price so far this year-$676,061  

• A factor to note in October: North Summit County Area- there was a $17,700,000 sale for the Young Ranch. It was a home and had four other improvements on it. It was approximately 175 acres- the county has not transferred it yet- so the acreage is not completely accurate. The sale is coded as a Development site rather than Residential- even through it has a home on it. It would have really skewed the averages if we included it in the Residential category. Since the transfer is between two corporate parities, we are assuming the transaction will be further developed or used as a working ranch.
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• As Crystal Peak Lodge units continued to close in October-there are 20 Sales, gross equaling $22,005,000 with the average price of $1,100,250 per unit.
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• The 2008 Year to Date Gross Residential Price Index shows that our average prices continue to surpass the past two years of 2006 and 2007.
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• The most active price point in October was Residential Improved Units -$300,000 to $400,000.
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• YTD October 2008 Residential Improved Units shows 1301 transactions with $758,130,400 total dollar volume.  YTD October 2007 showed 2169 transactions and $1,117,179,400 total dollar volume.
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•  The month of October 2008 shows a 19% decrease from the month of October 2007 in monetary volume. The month of October 2008 indicates a 43% decrease in number of transactions compared to the month of October 2007.  YTD 2008 % change reflects -25% from YTD 2007 with Monetary Volume. There is a -40% YTD 2008 vs. YTD 2007 in number of transactions.

Please note that Land Title data comes from actual recorded transactions at the County Clerk and Recorder’s Office.  The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.