Third Quarter Review
With the close of 2017 right around the corner, the trend of increasing prices over 2016 continues. Comparing 2016’s third quarter with the 2017 third quarter, Summit County marks positive increases across many areas. The Average Residential Sales Price continues to climb over the previous year with an 18.45% increase, raising the average sales price from $563,866 to an incredible $667,911. We also saw a 17.11% increase in the Overall Transaction Median Price.
While we saw a small dip in the number of closed transactions this year (773 this year compared to 794 in 2016), the momentum of the overall market is reflected in the Gross Sales Volume with an increase of 19.91% over 2016. This is due to the previously mentioned