The Real Estate Market | Summit County February 2022
- Number of Sales: The number of residential sales are down – 27%.
- Average Price Increase: The average sold price increase for residential property sales in Summit County was +70%!
- Inventory: Today there are only 83 residential properties for sale in all of Summit County. Bringing the inventory down as compared to the start of February of 2021 by -47%. There are about 27 affordable houses on the market in addition to the 83.
- Percent of List to Sold Price: The average percent of the list to sold price for residential sales is 101%. January 2021 is was 100%.
Here are some interesting quick stats:
- The +70% increase in average sold price represents an average price increase of $650,000!
- There are 472 properties currently under contract in the county with an average list price of $1,230,531.
- The average list price of the 12 available two bedroom condos in the county is $1,273,250.
- The average list price of the 115 two bedroom condos currently under contract in the county is $979,075.
- The average list price of a single family home in the county is $5,473,260 and there are 48 on the market. This does not include the 9 affordable housing homes on the market.
- The average list price of the 103 single family homes currently under contract in the county is $2,127,983. This does not include the 12 affordable housing homes that are under contract today.
NOTE: There was a $12,000,000 sale in January of 2022. If we remove that sale from the stats, it changes the average residential sold price for January of 2022 to just over $1,400,000 or an increase of +50%, and an average sold price increase of about $470,000 (2022 vrs 2021).
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 email@example.com.