SUMMIT COUNTY MARKET STATS
As the 3rd quarter ends, residential transactions have totaled 176 for September and 1,243 for the year. Both numbers show a decrease from last year (9% and 8% respectively). Despite a decrease in number of residential transactions for the year, overall volume is up by 4% totaling $1,025,112,846. The moving average for residential sales price continues to stay above $800K, landing at $844,620 for the month of September. The monthly average sales price, $850,606, beats September of 2018 by 23%. This increase is reflected in the sold price/sq.ft. as well, with the moving average at $501 – a 9% increase compared to last year.
The list versus sold price dropped a percentage since last month but holds at 98% for the quarter. The average days to sell for this quarter is 50, an average of 7 days longer compared to last year (a 17% increase). However, the highest sale for the month took fewer days to sell than the average at 30 days and sold for 76% more than the highest sale this time last year. This was Jeff Moore’s Shock Hill listing which sold for $4,575,000. This transaction contributed to the 281 total luxury transactions for the year, an 8% increase from September 2018.
The 4th quarter begins with 916 active residential and land listings. This is more inventory than this time last year by 40%. The number of active residential listings have stayed above 700 since this past July; this is an amount we haven’t seen since October of 2015, which started with 752 active residential listings. Land inventory is at 175 for the month and has remained under 200 since October of last year.