Summit County Market Stats May 2016
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Jun 3, 2016 // Jill Dorr
Summit County Market Stats May 2016

As the Summit County real estate market is moving into the summer selling season, sales activity is on the rise.

Residential Volume per Month

In May, 144 properties sold totaling $84.2 million in closed volume. Both transactions and volume for May reached their highest levels in the past 9 years.

 

Residential Volume May 2016

Alternatively, inventory is at the lowest level in 9 years. As of June 1, 829 active residential and land properties were on the market.

Actives May 2016

Of the 536 residential sales in 2016 so far, 60 were of luxury homes of $1 million or more. The number of luxury transactions up 5% since last year. Sold residential volume year-to-date is up 11% over 2015, totaling $327 million.

Luxury Transcations May 2016

Price indicators are more than 10% above where they were 12 months ago. The three-month moving average of residential price per square foot is $377, compared to $337 last May, and the average sales price is $627,985, compared to $567,229 last May. On average, residential properties are selling for 97% list price and average days to sell is 156.

Price per Sq Ft May 2016Days to Sell May 2016

For more information on how the market is performing, please contact your Slifer Smith & Frampton Broker.

Posted in: Market Watch  |  Real Estate News

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