Regarding all of Summit County - New Listings were down 8.5 percent for single family homes and 8.6 percent for townhouse-condo properties. Pending Sales landed at 181 for single family homes and 247 for townhouse-condo properties. The Median Sales Price was up 61.4 percent to $798,761 for single family homes and 29.1 percent to $484,000 for townhouse-condo properties. Days on Market increased 20.5 percent for single-family homes. Consumer spending on home goods and renovations are up, and more people are entering the workforce. Employed people spending money is good for the housing market. Meanwhile, GDP growth was 4.1% in the second quarter, the strongest showing since 2014. Housing starts are down, but that is more reflective of low supply than anything else. With a growing economy, solid lending practices and the potential for improved inventory from new listing and building activity, market balance is more likely than a bubble.
For a complete report regarding July monthly indicators CLICK HERE.
Snapshots below include up-to-date median sale prices by area.
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