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Continuing the unbroken string begun in 1990, RE/MAX once again led all other agencies in the number of Summit County properties sold in 2009. Even during this difficult market year, RE/MAX agents, with their emphasis on customer-focus and in-depth knowledge of the market managed to maintain the top position in the number of transactions closed.
The average sales price of properties in 2009 was down approximately 3%, but the number of properties sold dropped nearly 30%. This was a reflection of the economic uncertainty that affected every part of the nation’s economy. Many sellers were waiting for the real estate market to recover before listing their properties and buyers were cautious about buying properties that might depreciate further.
The best months for property sales were September and October, followed by November and December.
January and February 2009 were noticeably slower with January’s sales equaling only 30% of the number of properties sold in October.
2009 saw a precipitous drop in both the number of properties sold and the dollar volume of those properties when compared to 2008. Although the average price drop from 2008 to 2009 was minimal (about 3%), the reduced number of properties sold indicated a “wait and see” attitude on the part of both buyers and sellers.