Luxury Home Sales in Summit Country Strong in July
Though the end of July, residential closings throughout Summit County are still slightly below 2017’s pace, according to the latest statistics from Summit Association of Realtors. Last month, 178 residential closings were recorded in Summit County, brining 2018’s year-to-date total to 913.
To this point, the 913 closings still represent about a 4% decline compared to the first seven months in 2017.
The overall dollar volume of $691 million is up from last year, however, thanks to a rather robust July. According to the data, July’s residential volume totaled a whopping $147 million, and 41 of the 178 closings were luxury properties listed at $1 million or above. That represents the highest number of luxury properties closed in a single month in Summit County history.
Through last month, Summit County has seen 177 transactions in the luxury category, which is up 7% from 2017. July also saw Summit County’s priciest sale for the year as well at $4,700,000.
Inventory is still down throughout the area as Summit County’s 740 residential and land listings represent an 11% decline in available inventory from this time last year.