Tuesday, December 6, 2016

Summit County Market Stats November 2016


SUMMIT COUNTY MARKET STATS

November 2016

 

As we near the close of 2016, residential real estate sales are approaching the $1 billion mark, reaching $990 million in November. There were 186 residential transactions in November, 20% more than November 2015. November residential volume is up considerably (24% over last year) at $115.1 million for the month. Year-to-date, transactions have increased 1% to 1,671 closed transactions while total volume is 6% higher. Sales of luxury residential properties $1 million and above have grown slightly more (8%) with 197 transactions for the year.

 

The three-month average of residential sales price and price per square foot are both up by 5% over last November. The average residential property in Summit County is selling for $611,741 and $381 per square foot. Sold price versus list price is 98% and days to sell is averaging 71 days.

 

On December 1st there were 627 residential and land listings for sale in Summit County (358 residential and 269 land). This number has dropped 20% since December 1, 2015.

 

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