Markets Calm to Pre-Covid LevelsPosted by Breckenridge Associates Real Estate on
August is a great time to check the “temperature” of the local real estate market. National economic conditions have cooled the overheated market, but how much?
In Summit County, real estate sales for the past two summers were scorching hot due to low inventory, high buyer demand, and ongoing shifts in the workplace and migration of permanent residence. What we are now seeing is a plateau of price appreciation but not a downturn in average sales price.
Currently, there are 557 active listings in Summit County with 177 of those under contract (not including 380 new construction properties awaiting completion). The active listing inventory remains well below average in comparison to the past 5 years.
For the thousands of buyers still in the…
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