February 6, 2012 Market Update

 

We continue to see good news from the Summit County real estate market.  Overall we are about 14% ahead of last year for listings that have sold. Last year at this time we were 18% ahead. The big difference so far is that the activity has flip flopped and the North Side of the county is getting the sales rather than the South Side: the North Side is up 47% and the South Side is down 18% (last year the South Side was up 32% and the North Side was up 7%).

Last week’s activity shows that the new listings are about the same with 30 new listings (in 2010 there were 32) and the listings that went under contract last week are down with the 14 listings that went under contract representing a 40% decrease.

Even though it is still early in the year the more positive gains that are made the more the market will continue to dig itself out