Sunday, January 17, 2021

Monday, January 4, 2021

Summit County Market Stats - December 2020

 

SUMMIT COUNTY MARKET STATS

December 2020

Summit County closed out 2020 on a high note with record setting Real Estate numbers. In the last month of the year, we saw 195 residential transactions, totaling $181.45M in volume, a 13% increase in transactions and a 31% increase in volume compared to December of 2019. For the entire year, 2020 residential transactions were 20% higher than the previous year and volume for the year was approximately $1.95 billon, a 35% increase compared to 2019. $1million+ transactions year-to-date concluded with 51% more transactions than 2019.

The 3-month average residential sales price closed out the year at $931,240, 18% higher than the end of 2019. During the month of December, the average price/square foot hit an all-time record of $604, 25% higher than this time last year. The 3-month average for days on market for residential properties in December was down 12% compared to 2019, now at 64. The residential list vs. sold price 3-month average remains strong at 99%.

There were 25 land transactions during the month, more than double the number seen in December 2019. Year-to-date land transactions concluded with 215, the most land transactions ever seen in one year.

As of January 4th, there were 186 active listings in Summit County, of which 152 are residential and 34 are land. This is a decrease in inventory of 22% compared to the beginning of December, a 78% decrease compared to the peak inventory we saw at the beginning of July and a record low for the past 13 years. 

Data used in this write-up were collected from the MLS on 1/4/2021

Monday, December 21, 2020

SUMMIT COUNTY MARKET STATS

November 2020

As we turn the corner towards the end of the year, record setting Real Estate continues in Summit County. In the month of November, we saw 237 residential transactions, totaling $232.58M in volume. This is a 40% increase in transactions and a 66% increase in volume compared to November of 2019. Additionally, we saw 83 transactions over $1M, an increase of 113% compared to last year. $1 million+ transactions year-to-date are 52% higher than 2019. The highest sale in November was for $4,000,000 located in the Juniata subdivision in Breckenridge.

The 3-month average sales price has climbed 2% since last month and now sits at $955,287, up 19% compared to November of last year. The 3-month average price/square foot has also increased, now at $540, an increase of 3% from October and 10% compared to November 2019. The average days on market for residential properties in November was down 29% compared to 2019, now at 58. The residential list vs. sold price 3-month average is now at 99%.

There were 31 land transactions during the month of November, an increase of 650% compared to the 4 transactions we saw in November of last year. Year-to-date, land transactions for 2020 are up 78%.

As of December 3rd, there were 238 active listings in Summit County of which 183 were residential and 55 were land.  This is a decrease in inventory of 19% compared to the beginning of November and a 72% decrease compared to the peak inventory we saw at the beginning of July. For all of Summit County, the first 3 days of December have already produced 26 closed transactions and 29 new pending transactions.

Data used in this write-up were collected from the MLS on 12/3/2020

Friday, November 6, 2020

SUMMIT COUNTY MARKET STATS - OCTOBER 2020

The trend of record setting Real Estate in Summit County has continued through the month of October with 360 residential transactions totaling $317.4 in volume. This is a 3% increase in volume compared to last month and a 118% increase compared to October of 2019, more than double the volume we saw a year ago. Additionally, we saw 89 transactions over $1M, an increase of 117% compared 2019. $1 million+ transactions year-to-date are 44% higher than 2019. The highest sale in October was for $4,800,000 located in the Timber Trail subdivision in Breckenridge.

The 3-month average sales price now sits at $935,603, 14% higher than this time last year. The 3-month average price/square foot has also increased, now at $522/sq.ft., a 5% increase compared to 2019. The 3-month average for days on market for residential properties is 65. The residential list vs. sold price 3-month average has increased 1% and is now at 99%.

There were 31 land transactions during the month of October, an increase of 55% compared to 2019. Year-to-date, land transactions for 2020 are up 55% compared to 2019.

As of November 3rd, there were 294 active listings in Summit County of which 224 were residential and 70 were land. This is a decrease in inventory of 21% compared to the beginning of October and a 66% decrease compared to the peak inventory we saw at the beginning of July. For all of Summit County, the month of November has already produced 27 closed transactions and 20 new pending transactions.

Data used in this write-up were collected from the MLS on 11/3/2020

Sunday, September 6, 2020

Summit County Market Stats - August 2020

SUMMIT COUNTY MARKET STATS August 2020

August was another record setting month for Summit County real estate with 207 residential transactions totaling $272.1M in volume. This is a 38% increase in volume compared to August of 2019. Additionally, we saw 93 transactions over $1M, an increase of 60% compared to July 2019 and a 72% increase compared to last month. The highest sale was for $5,350,000, located in the Timber Trail subdivision in Breckenridge.

The average sales price for the month was $922,313, a 9% increase from last month and up 4% compared to August 2019. The average price/square foot for the month of August increased to $512/sq.ft., up 4% compared to July and even with August of 2019. The 3-month average for days on market for residential properties continues to decrease since the beginning to the year and now sits at 57. The residential list vs. sold price 3-month average has remained consistent for the last 6 months at 98%.

Land sales were at an all-time high for the month of August with 39 transactions, an increase of 290% compared to August 2019. Year-to-date, land transactions for 2020 are up 26% compared to 2019.

As of September 3rd, there were 536 active listings in Summit County of which 429 were residential and 107 were land. This is a decrease in inventory of 20% compared to the beginning of August and a decrease of 33% compared to the peak inventory we saw at the beginning of June. For all of Summit County, the month of August has already produced 19 closed transactions and 41 new pending transactions.

Data used in this write-up were collected from the MLS on 9/3/2020

Wednesday, August 5, 2020

Summit County Market Stats - July 2020

SUMMIT COUNTY MARKET STATS
July 2020


The month of July concluded with 207 residential transactions totaling $175.5M in volume, the highest number of transactions and volume for the month of July in Summit County ever.  This is a 37% increase in volume compared to July of 2019. Additionally, we saw 54 transactions over $1M an increase of 59% compared to July 2019 and more than double the number of $1M+ transactions we saw last month. The highest sale was a Slifer Smith & Frampton listing that sold for $3,750,000, located in Breckenridge.

The average sales price for the month was $847,794, a 4% increase compared to June.  The average price/square foot for the month of July increased to $491/sq.ft., up 6% compared to June. The average days on market for residential properties for the month of July was 48, bringing the 3-month average down to 57, a decrease of 10% compared to last month’s 3-month average.  The residential list vs. sold price 3-month average remains unchanged at 98%.

As of August 3rd, there were 673 active listing in Summit County of which 546 are residential and 127 are land.  This is a decrease in inventory of 21% compared to the beginning of July and a decrease of 28% compared to beginning of August 2019. For all of Summit County, the month of August has already produced 26 closed transactions and 78 new pending transactions.

Data used in this write-up were collected from the MLS on 8/3/2020