Monday, January 13, 2020
To help keep you well informed in this ever changing marketplace, The Slifer Report offers a comprehensive look into market performance in each of our unique mountain communities.
Please feel free to contact me for more detailed information on any neighborhood within Summit County.
*Data gathered is from Land and Residential sales from 1.1.19 through 12.31.19. Source of all data in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed.
Wednesday, January 8, 2020
SUMMIT COUNTY MARKET STATS
The Summit County residential market ended 2019 with a 37% increase in transactions for the month of December. The total for the year, however, was 1,797 – 3% lower than last year. The 3-month moving average sales price saw no change since 2018, but the overall average for 2019 is 7% higher. The average sold price/square foot is at an increase for December by 2% ($484/sq.ft.) as well as the 3-month moving average by 4% ($489/sq.ft.).
It took, on average, 86 days on market (DOM) for residential properties in December – a 48% increase versus last year. The average DOM for 2019 was only slightly longer than 2018, though (58 v 51 days). The luxury market showed strong activity for December, with 45 $1-million + transactions. This is 61% more than December of 2018. The year ended with a total of 406 transactions at this price point.
Overall, residential volume is higher for the month as well as the year compared to 2018, 37% and 6% respectively. There were 10 land transactions for December and 119 for the year. January 2020 is starting with 139 active land listings and 466 residential. This makes total inventory 16% higher than it was this time last year.