October is top dollar month this year.

October produced the year’s highest monthly dollar volume of real estate transactions in Summit County in what has already been a very strong 2013. Sales of $111 million topped a October 2012 by 6% and were the highest sales of any month since October of 2008. Transaction volume dipped slightly from September to 241 sales versus 244 but was still up 5% from the year ago period and other than the previous month was the highest transaction volume since late 2007.
Although the year-over-year gains in October were well behind the totals for the year—dollars up 19% and transactions up 25% – last October was a particularly tough comparison and thus the smaller gains should not be necessarily interpreted as a slowing in the market.
Once again the sub $400,000 segment dominated the market accounting for 56.9% of all transactions including 39.7% in the $200,000-300,000 range alone. That compares with 54.4% of all sales under $400,000 and 34.9% between $200,000 and $300,000 for the year to date. Higher end properties did put in a respectable showing with 15 sales over $1 million include two in the $2-2.5 million range.
Year-to date average selling prices( ASPs) for single family homes ticked up slightly to $757,052 but are still just under the $764,455 average for all of 2012. Multifamily ASPs were down modestly at $343,802 and still trail the year ago average by about 3%. ASPs for land were about flat with September but are up 6.5% year over year.