Weekly Market Update
Posted by Susan Gunnin on Tuesday, March 15th, 2011 at 10:09pm.How’s our market?
Active Listings Down 12%
The inventory is lower than last year by 192 or buyers have 12% fewer listings to take into consideration. Today we have 1,371 active residential Summit County listings and last March 15th we had 1,563.
Sold YTD Up 8.7%
Through March 13th in Summit County there have been 137 residential listings that have sold resulting in an 8.7% increase in the number sold as compared to 2010 through March 13th. Last year at this time we were 26% ahead of 2009.
Average Sold Price Down 6.4%
Through March 13th our Summit County residential average sold price is $497,995 and last year (through March 13th) it was $532,125 resulting in a 6.4% decrease.
Average Active Prices
The average list price of all Summit County residential active listings is $730,737 and the average list price of all the listings that are under contract is $604,456.
How’d our market do this past week?
New Listings Up
We had 64 new this past week and in 2010 for the same week we had 50 and in 2009 we had 92.
NUCs Up (NUC = new under contract)
We had 20 this past week and in 2010 we had 17 and 2009 we had 7.
Sold Listings Down
We had 10 sell this past week and in 2010 we had 11 and in 2009 we had 11.
Showings Up
The number of showings are up about 10%. Actual activity year-to-date for showings is about the same as last year, yet the number of RE/MAX listings that have sold or gone under contract this year so far is 127% greater in 2011 than it was in 2010! The average number of showings a property receives before it is sold this year is at 21.81 and last year it was at 28.18.
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