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
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