Summit County Real Estate Market Update – August 2025

Our active listings are up 25% compared to last year, and we are 50% above pre-COVID levels. This translates to about 8 months of inventory. There are a lot of properties to choose from right now, but we are coming down from our typical summer peak, and there will likely be less and less to choose from in the coming months as sellers decide to rent their properties for the winter or decide to use it themselves.

When we look at pending sales, we look at how many properties are going under contract each month. We are up 30% in August 2025 compared to August 2024. So, there are more properties to choose from, but there are also more properties moving than last year. We have a few weeks before we reach the peak buying season, so we will see in the coming months if the pending sales continue to climb throughout 2025 or if they level out.

Anecdotally, we are starting to see showings increase, which is a welcome sign for sellers.

This takes us to the pricing trends. Our median sales price (rolling average over the last 6 months) is under $1M which hasn’t been the case since 2023. We have seen the median sales price bounce up and down lately, but the key message is that we are down about 7% from last year. We are feeling this in the marketplace as some sellers are experiencing price drops and buyers are finding deals in some areas of the market.

One unique thing in our market is that many properties are second homes, which mean seller motivation to drop prices may be less than the seller motivation in primary markets.

For Sellers: Continue to have your listing picture perfect and know that it may take more time to sell, even through October’s peak for pending contracts. Consider what your motivation is. If you have more time, then it may be worth waiting for some of the active inventory to sell off before your price drops. If you need to sell quickly, then pricing is the best lever we have to encourage buyer interest. With 8 months of inventory, you have 8 other properties you are competing with, so think about how you can be the next choice for buyers.

For Buyers: You have lots of options to choose from, and you have opportunities to negotiate. There is opportunity to get good deals, especially in properties that need updating as there is less competition in those properties. There is also opportunity in commodity products, such as condo complexes where a number of the same properties are on the market – one seller is likely to be motivated. We are recommending our buyers put in offers on properties they like, even if they are low, to show your interest and test the seller’s motivation.