June 2013 Summit County Real Estate Update
The real estate climate in Summit County is really looking good. Currently, available properties are down 16 percent while closed properties through June 2nd are up 12 percent. In terms of total properties that are under contract today, the area is up 16 percent.
Unfortunately, the average sold price is down 2 percent at the moment. But you never know when that number might change either.
Recent under contract activity is astounding with a plus 62 percent from last year. Also, the latest sold activity is up 28 percent with new listing activity down by 34 percent. Listings may be down, but showings are actually up by 40 percent for the month of May.
Here’s a very intriguing detail to note in today’s market. The average number of showings it takes before a property is sold right now is 23. Last year at this time the average was 28.
In other words, there are fewer showings, fewer listings and yet more sales are happening in Summit County. That’s great news, especially if you’re looking to sell your home in the near future.
When it comes to list price, the numbers come out to just about the same as last year around this time. But sales throughout Summit County have gone up 12 percent. The North Side is seeing a 4 percent rise while the South Side has gone up 24 percent.
Concerning the sold price, though, Summit County is down overall by 2 percent with the North Side seeing a 6 percent decrease and the South Side a 1 percent slide.
But with all the other positive details to report, the sold price will come up in time, too. We’re still in a recovery so patience is definitely a virtue when watching the Summit County market!
Contact Me For More Information
If you’re ready to buy or sell a home in Summit County, it’s logical to go through every monthly real estate report with a fine-toothed comb. I recommend that you put a lot of effort into studying the market. You should always know what’s happening here as you prepare to make any kind of move.
However, it won’t help you understand the market better by drawing conclusions based on a single real estate report. Real estate can change very quickly. So knowing Summit County’s various patterns will help you out in the long run.
But you don’t have to figure everything out on your own either. Whatever guidance you need, I’m here to help with all of your questions and concerns. Also, if you have a chance, check out my Kelli Sells Blog. You might get a tip or trick that makes a difference in your Summit County real estate experience.
As always, feel free to contact me at your convenience. You can send me an email at [email protected] or call my office lines. However you wish to get in touch, please remember I’d love to assist you in any of your real estate needs.