Transactions Remain on the Rise

           As the snow begins to fly and we enter the 2012/13 ski season the Summit County Real Estate Market continues to improve.  This October saw 171 residential transactions representing a 37% gain compared to the 125 transactions in October of 2011!  However, the average sales price remained relatively flat rising .7% from $458,643 in October 2011 to $462,018 in October this year.

            When looking at 2012 compared to 2011 there has also been significant improvement.  Through the end of October this year, there were 1,047 residential transactions which is a 17% increase compared to the 895 transactions in the same time period last year.  However, the average sales price still remains relatively flat rising .7% to $462,018.

            Looking forward there are currently 1,168 properties listed for sale in Summit County.  If the numbers of transactions we are seeing continue through year end and there is not a large influx of new listings, this may become the smallest inventory we have seen in a long time.  As the supply of homes for sale decreases we can expect to start to see prices increase.  As always, please feel free to contact me anytime with questions.

All the best,

Tyler MacGuire  e-PRO®, SFR, CNE

Broker Associate

Omni Real Estate Company

Office: 970-468-2740

Mobile: 970-409-7779    

Web: www.tylermacguire.com

       

“Your Guide to Summit County Real Estate”