Summit County Market Stats December 2019

SUMMIT COUNTY MARKET STATS December 2019   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.