Thursday, February 18, 2021

Friday, February 5, 2021

January 2021 Monthly Market Statistics - Summit County


SUMMIT COUNTY MARKET STATS

January 2021

As we kickoff the New Year in Summit County we continue the trend of strong real estate numbers. In the first month of the year, we saw 109 residential transactions, totaling $101.44M in volume, a 35% increase in transactions and a 58% increase in volume compared to January of 2020. Land transactions were up 57% compared to a year ago with 11 closings during the past month.

The luxury market also continues to trend upward with 31 properties closed for over a million dollars, a 55% increase compared to a year ago. The highest sale was a Slifer Smith & Frampton listing that sold for $4,850,000, located in the Timber Trail Subdivision.

The 3-month average residential sales price continues to climb, now at $947,491, 17% higher than a year ago. The 3-month average price/square foot is now at $583, up 17% compared to last year. With limited inventory the average days on market continues to fall, sitting at 31 days for the month of January. The average residential list vs. sold price hit 100% in January.

As of February 3rd, there were 164 active listings in Summit County, of which 145 are residential and 19 are land. This is a decrease in inventory of 13% compared to a month ago and a 71% decrease compared to a year ago.

Data used in this write-up were collected from the MLS on 2/3/2021

Sunday, January 17, 2021

Monday, January 4, 2021

Summit County Market Stats - December 2020

 

SUMMIT COUNTY MARKET STATS

December 2020

Summit County closed out 2020 on a high note with record setting Real Estate numbers. In the last month of the year, we saw 195 residential transactions, totaling $181.45M in volume, a 13% increase in transactions and a 31% increase in volume compared to December of 2019. For the entire year, 2020 residential transactions were 20% higher than the previous year and volume for the year was approximately $1.95 billon, a 35% increase compared to 2019. $1million+ transactions year-to-date concluded with 51% more transactions than 2019.

The 3-month average residential sales price closed out the year at $931,240, 18% higher than the end of 2019. During the month of December, the average price/square foot hit an all-time record of $604, 25% higher than this time last year. The 3-month average for days on market for residential properties in December was down 12% compared to 2019, now at 64. The residential list vs. sold price 3-month average remains strong at 99%.

There were 25 land transactions during the month, more than double the number seen in December 2019. Year-to-date land transactions concluded with 215, the most land transactions ever seen in one year.

As of January 4th, there were 186 active listings in Summit County, of which 152 are residential and 34 are land. This is a decrease in inventory of 22% compared to the beginning of December, a 78% decrease compared to the peak inventory we saw at the beginning of July and a record low for the past 13 years. 

Data used in this write-up were collected from the MLS on 1/4/2021

Monday, December 21, 2020

SUMMIT COUNTY MARKET STATS

November 2020

As we turn the corner towards the end of the year, record setting Real Estate continues in Summit County. In the month of November, we saw 237 residential transactions, totaling $232.58M in volume. This is a 40% increase in transactions and a 66% increase in volume compared to November of 2019. Additionally, we saw 83 transactions over $1M, an increase of 113% compared to last year. $1 million+ transactions year-to-date are 52% higher than 2019. The highest sale in November was for $4,000,000 located in the Juniata subdivision in Breckenridge.

The 3-month average sales price has climbed 2% since last month and now sits at $955,287, up 19% compared to November of last year. The 3-month average price/square foot has also increased, now at $540, an increase of 3% from October and 10% compared to November 2019. The average days on market for residential properties in November was down 29% compared to 2019, now at 58. The residential list vs. sold price 3-month average is now at 99%.

There were 31 land transactions during the month of November, an increase of 650% compared to the 4 transactions we saw in November of last year. Year-to-date, land transactions for 2020 are up 78%.

As of December 3rd, there were 238 active listings in Summit County of which 183 were residential and 55 were land.  This is a decrease in inventory of 19% compared to the beginning of November and a 72% decrease compared to the peak inventory we saw at the beginning of July. For all of Summit County, the first 3 days of December have already produced 26 closed transactions and 29 new pending transactions.

Data used in this write-up were collected from the MLS on 12/3/2020

Friday, November 6, 2020

SUMMIT COUNTY MARKET STATS - OCTOBER 2020

The trend of record setting Real Estate in Summit County has continued through the month of October with 360 residential transactions totaling $317.4 in volume. This is a 3% increase in volume compared to last month and a 118% increase compared to October of 2019, more than double the volume we saw a year ago. Additionally, we saw 89 transactions over $1M, an increase of 117% compared 2019. $1 million+ transactions year-to-date are 44% higher than 2019. The highest sale in October was for $4,800,000 located in the Timber Trail subdivision in Breckenridge.

The 3-month average sales price now sits at $935,603, 14% higher than this time last year. The 3-month average price/square foot has also increased, now at $522/sq.ft., a 5% increase compared to 2019. The 3-month average for days on market for residential properties is 65. The residential list vs. sold price 3-month average has increased 1% and is now at 99%.

There were 31 land transactions during the month of October, an increase of 55% compared to 2019. Year-to-date, land transactions for 2020 are up 55% compared to 2019.

As of November 3rd, there were 294 active listings in Summit County of which 224 were residential and 70 were land. This is a decrease in inventory of 21% compared to the beginning of October and a 66% decrease compared to the peak inventory we saw at the beginning of July. For all of Summit County, the month of November has already produced 27 closed transactions and 20 new pending transactions.

Data used in this write-up were collected from the MLS on 11/3/2020