August 2013 Summit County Real Estate Update

Summit County real estate keeps getting better and better. I’m happy to report that the market is up 15 percent for the amount of residential sales! Also, the North side of the county is seeing an 11 percent growth and the South side has increased by 20 percent. Now that’s worth celebrating! 

Of course, there’s always room for improvement. Average sold prices are currently down by 3 percent county wide. The North end is experiencing a -8.4 decrease. But the South end is up about 1 percent.

However, the average Summit County residential sale so far this year is just over $500,000. When it comes to home values here, that’s pretty good news!

In the beginning of the summer, all of the sales in this county were under $500,000. But that’s beginning to change, especially on the South side of Summit County. Interestingly, sales over $500,000 on the South end are up a whopping 26 percent and sales under $500,000 have increased by 14 percent.

Conversely, sales on the North side over $500,000 are down by 14 percent. Sales that are under $500,000 on the North end have risen by 22 percent.

The big picture is that August looks to be shaping into a very positive month for Summit County. In total, the amount of properties that are under contract right now is up 28.5 percent and the number of available properties is down 12 percent.

Summit County is getting more listings and more properties are going under contract. This is a great combination that bodes well for the future in this real estate market.

Contact Me For More Information

If you’re ready to buy or sell a home in Summit County, it makes sense to examine every monthly real estate report. I believe it’s smart to study the market in this way. You should always know exactly what’s happening as you prepare to make any kind of move.

But don’t draw conclusions based on a single real estate analysis. The market can change very quickly. So knowing Summit County’s various patterns will help you out in the long run.

However, you don’t have to navigate the ins and outs on your own either. Whatever guidance you need, I’m here to help with all of your questions and concerns.

Also, if you want to look at various properties in Summit County, check out the listings page on my website. Then we can go over the homes that interest you together.

Feel free to contact me at your convenience. You can send me an email at [email protected] or call my office lines. Please remember I’d love to assist you in any of your real estate needs. I look forward to hearing from you!