Although showing a normal seasonal decline from October, Summit County real estate sales in November were essentially flat with the levels of a year ago. Dollar volume fell 15.8 percent from October to $153.8 million. However, that level was up 1.3 percent from the $151.9 million of a year ago.
The seasonal drop in volume was a more modest 3.8 percent with 227 sales in November versus 236 in October. Year over year, the volume of sales actually rose 1.3 percent.
Year to date, both volume and dollar comparisons are in the red. Transactions are down 11 percent at 2,329 versus 2,377 while dollars are off 2 percent at $1.605 billion.
Sales mix shifted somewhat in the month with more mid to lower end sales. Properties below $300,000 continued to underperform their historical norms as a percentage of sales but all $100,000 price points from $300,000 to $700,000 outdid their performance earlier in the year. As a whole, properties under $700,000 represented 63.2 percent of sales in November versus 58.6 percent year to date.
The average year to date selling price for single family homes ticked up to its highest level since January. At $1,140,808 the figure stands 5 percent above the level a year ago and the full year 2017 figure.
Multi-family pricing has been somewhat strong. While down slightly from October at $518,075, it sits 11.5 percent ahead of the October 2017 figure and 9.3 percent above the 2017 year end number.
Inventories at the end of December continued their seasonal decline. Total active residential listings dropped from 396 to 378 with all that decline coming in the single family category. Year over year, however, listings are up 25 percent for both single family and multi-family properties.