Summit County Real Estate Market Update – through September 2015

Below you will find the link to the September 2015 Market Report for Summit County.  This is provided to me by Land Title Guarantee Company.  This data comes from actual recorded transactions at the County Clerk & Recorder’s Office – not directly related to MLS data. To see the report in its entirety, please click this link:

Summit County Real Estate Market Report – September 2015

  • Market Snapshot for Years 2015 vs.2014:  Values are still strong and are as follows: Average Indicators for $: Single Family +9%, Multi- Family +11% and Vacant Land +19%. Median Indicators for $: Single Family +5%, Multi- Family +19% and Vacant Land +13%.
  • Market Analysis % Change showing years 2004-2015 : Monetary volume ($165,716,318) in September is up +13% compared to September 2014. Number of transactions (301) are up 5% in September 2015 compared to September 2014. YTD ( 9 months) Summit County real estate is up 32% in monetary volume and up 19% with number of transactions compared to YTD 2014.
  • YTD 2015 Average Price History: Average residential pricing continues to increase for 2015- Single Family: $855,027 Multi- Family:$398,617 and Vacant Land: $379,041.
  • Historical Cost Breakdown for 2015: There have been 1438 residential transactions YTD and $784,072,868 volume with 140 properties selling for a $1M and over-compared to 2014, there were 1189 transactions and $598,246,081 gross volume, 91 properties at $1M and over and in 2013, there were 1104 transactions with $548,737,300 gross volume, 89 properties at $1M and over.  
  • Top Lender Graph: There were 502 loans in September, 61% of the loans were related to sales, there were 129 REFI’s and 189 loans were timeshare related. 39% of the real estate closings were cash transactions.

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