After a deceleration in growth for July, Summit County real estate sales once again hit the gas. Dollar volume in the month rose 49% to $142.5 million versus August of 2014 and was up 20.8% from July. That reflects the highest August number since 2007. Transaction volume, which was flat in July, jumped 25% from a year ago and was up 32% from the prior month at 267 sales. Year to date, dollar volume is up 37% to $798.8 million while transaction volume has risen 23% to 1,471 sales.
Price point analysis shows no major change in the mix for the month. Low end properties continue to dominate with sales under $500,000 accounting for 59.3 % of all transactions in the month versus 61.2% year to date. Sales in the $500,000 to $1,000,000 range represented 30.2% of the sales in the month and 29.5% year to date. One million plus properties were 10.5% and 10.3% respectively. Comparing the year to date figures, we do see a shift to the higher end. Last year through August low- end sales were 64.8 percent of the total, mid-market 27.6% and high-end, 7.6%.
Year to date average selling prices (ASPs) for single family properties dipped modestly from July to $854.417 but were still 8.9% ahead of the figure for all of last year. Multi-family ASPs ticked up slightly from the prior month and are up 10% from all of 2014 reaching $393,539. Land ASPs are also up, rising 18% to $376,467
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