The Real Estate Market | Summit County August 2021
The number of transactions sold since August 1 are down by 46% compared to the number of transactions sold in August of 2019 and August of 2020. However, the average sold price remains positive with an average of a 26% increase since 2019. The average sale is hoovering around $1.2 Million across Summit County at this time. Right now, the inventory has risen to levels higher than it was in October of 2020. Interest rates are speculated to trend upward and in some instances, already have gone up for certain loan products. Rising interest rate speculation has provoked some buyers who were previously on the fence, to make purchases before winter sets in and interest rates risk going up. For Sellers, more and more are making moves sooner than later, to get ahead of anticipated competition.
Interested in more information about the local area or do you have questions about Summit County real estate? Contact Taryn Brooke at: 970.333.8297 or firstname.lastname@example.org.