Market Trends by Month
September marks the end of the third quarter of the year, and draws a close to a busy summer for Summit County real estate. Throughout September 188 residential transactions were recorded totaling $125 million in sales volume. September transactions are down slightly compared to the four years prior; still, closed transactions for the year are up 9% totaling 1,402 and $965 million year-to-date.
Twenty-nine properties priced above $1 million closed this month, bringing the year-to-date total to 235 luxury home sales. Sales in this segment of the market are up 58% over last year when there were 149 transactions year-to-date.
Residential price per square foot is up 13% over September 2016 ($421 v. $374). Overall, homes are selling at 98% of list price and the average days to sell has fallen substantially over the past couple of years to the current average of 49 days.
Available inventory in Summit County as of October 1, 2017 consists of 671 units including residential and land properties, which reflects a 19% drop from twelve months ago.
Please note: This report is intended to give the reader a general overview of the Summit County area. Statistics can vary by neighborhood and price range, so buyers and sellers are advised to look to their Slifer Smith and Frampton broker for specific information on properties of particular interest. The source of real property information used for this report is the Summit Association of Realtors MLS.
Data is compiled by Slifer Smith & Frampton Real Estate with data from the Summit Association Realtors MLS. Statistical information is deemed reliable but not guaranteed. Please contact your Slifer Smith & Frampton Real Estate broker for clarification or more information.