Historic Sales: Looking at the graph above and the sales over the past 20 years for the first 4 months of each year is certainly interesting. The sales have fluctuated with the highest number of sales occurring in the first 8 or so years and the highest sold prices occurring in the last few years. In fact, the average sold price in 2000 was just over $300,000 and today, in 2019, it is just over $800,000.
1st Four Months of Real Estate Sales: The number of sales dropped -7%. It is taking about the same number of days to sell a property this year as last year and the average sold price is up +13%. The 13% increase translates to +$94,847!
Condominium Sales: The prices are about flat with around a +2% improvement or about $7,000 more for a condo today on average than last year at this time. Condo sales are down a little by close to 10 sales or -5%. And it is taking about 30% longer to get a condo sold or an additional 11 days.
Single Family Home Sales: This is big, it will cost one (on average) an additional $212,000 to buy a home today than it did last year over the 1st four months! Yes, the average sold price for a home in Summit County has improved by almost 19%. About the same number of homes have sold so far this year and it is taking 13 days less to get one sold.
$1,000,000 Plus Sales: One Million plus sales have increased by 27% as compared to the this same time last year. Interesting that the average sold price for residential sales over $1,000,000 increased by about 18%. The number of sales improved evenly throughout the county.
Current Inventory: The inventory is increasing. In fact, the supply of residential properties for sale under $1,000,000 increased slightly to a 2.4 month supply. The number of properties for sale over $1,000,000 has increased to a solid 6 month supply throughout the county.
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