THE AMY NAKOS GROUP
Market Updates
July 2023 Summit County Market Report
I have been watching one statistic closely because I think it best tells the state of our current market: Number of Sold Residential Properties. This metric is the real time data of how quickly properties are moving. In my personal day to day business, I can tell that properties are taking longer to sell and that buyers aren’t as motivated as in the past. This necessarily will lead to slower movement of inventory. But how much slower? And how does that translate into pricing?
Market Report: June 1, 2023
The real estate market in Summit is slow. Of note, May only had 66 closings. Only one month since January of 2015 was less and that was January 2023 at 60 closings. Wow is all I can say about that. In the last 30 days 85 properties in Summit have gone under contract....
Summit County Market Report May 2023
I know I have been saying this for months, and I’m going to keep saying it: This summer is going to tell the tale of our market health since summer is always our high real estate sales season. What we are seeing now is some price softening, longer days on the market,...
Market Trends Q1 2023
How’s the market? Summary: Expect some new properties on the market in the Spring (April to June), but not an abundance of listings. Pricing is softening in certain sectors, especially where STR restrictions are in place, but prices are by no means slashed. Dollar...
Summit County Softening Market – Anecdotes from the Trenches
Real estate trends are not always obvious. Those of us who work in the field each day notice the anecdotal evidence of trends long before they show up on a larger scale statistical analysis. Having worked in Summit County for almost 20 years, there are some canaries...
Market Update February 2023
The year 2022 was an unusual one for market conditions. It started off like a fighter jet and quickly switched to a horse and buggy. Or maybe even a turtle, climbing uphill, in the winter. The second half of the year brought annual statistics down 25% in dollar volume...
Market Update January 2023
Download the Land Title Statistics for November 2022 Prices remain relatively strong but activity continues to decline. Year to date November 2022 has dollar volume 26% less than 2021 and number of transactions are down 30% year over year. See Land Title statistics...
Real Estate Market Update Fall 2022
While I have many people asking me if prices are falling and wondering if they can get in on the Kohl’s 40% off sale, prices in Summit are still holding steady. Year to date sales volume is down 16% from last year and number of transactions is down 35%. That means...
Summit County Real Estate Market Update Q2 2022
Here is our latest mountain trends report! This report covers data through June 2022. Each individual neighborhood is also covered in this report. No surprises here - you can track the market appreciation over the past couple years and also see the most recent...