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
