Saturday, April 6, 2019
SUMMIT COUNTY MARKET STATS
In the first quarter of 2019 the Summit County real estate market produced 268 residential sales totaling $224 Million. The month of March accounts for 84 of these sales, totaling $76.4 Million. In comparison to last year, the number of closed residential transactions fell 6% while sales dollar volume rose 7% in the first quarter.
The moving average of residential sales price for January, February and March is $864,217. At this same time last year, the average was $733,107, or 18% lower. Contributing to the growth in average sales price is the increasing number of transactions above $1 Million. There have been 62 sales in this price segment so far in 2019, reflecting a 22% rise over 2018.
On average, residential properties are closing at 98% of list price, and in a timeframe of approximately 67 days. April 1 available inventory in Summit County includes 594 residential and land properties, compared to 534 on March 1. Typically, available inventory increases from April through August, though the seasonal increase has been less significant in recent years.
The source of data used to compile this report is the Summit Association of Realtors MLS. Information is deemed reliable, but not guaranteed. Please contact your Slifer Smith & Frampton Broker for more information.