Summit County Real Estate – sales are down 4% year-to-date

Year to date real estate sales in Summit County are down 4% (note that at this same time 2011 sales were up 23% compared to 2010’s). Positive news – our current number of residential listings that are under contract is up just under 3% over last year, so it is possible that after  these sales become actual sold listings we will break even with last year’s numbers.

While the county is down in the total number of residential sales so far this year the North Side of the county is up 22%; which is great for the North Side of the county. Unfortunately the South Side is down 30%. This will be another interesting aspect of our local market to follow and gage whether a balancing out will occur or a trend is in the process.

Current inventory of 1187  residential listings with average list price of $729,640 includes 434 single family homes/duplexes, 616 condos and 126  townhomes.