Santa Claus was kind to the Summit County Real Estate market in December bringing the strongest sales gains of the year. Transaction volume in the month rose 48% to 276 sales. While that wasn’t the highest level for any month in the year (September had 301), it was the highest December since at least 2007. Dollar volume rose an even more spectacular 57% to $141.4 million and was the highest December in at least 9 years. This strong finish was particularly notable after the paltry results posted in November.
With the strong finish, full year numbers were quite impressive. Transaction volume was up 18% to 2,537 sales. Dollar sales increased 30% to $1.37 billion.
New construction was a notable contributor to the gains for both the month and the year. For December, new home (single and multi-family) sales nearly doubled from 14 units and $14 million to 27 sales and $26 million. For the full year, units were up 43% and dollar volume rose 57%.
Average selling prices (ASPs) also showed strong gains for the year. The single family ASP for the full year closed at $855,925 up 9% from the prior year. The Multi-family ASP rose 11.6% to $399,232 while land rose 17.1% to $372,794. Sales mix in the month skewed a little more toward the lower end with the closing of a number of workforce/deed restricted units in Frisco.
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