There was a notable increase in closings in March compared to the first two months of the year, while both average sale price and price per square foot remained flat. This points to steady demand within a more balanced market.

March saw 105 residential closings in Summit County. A nice uptick from 62 in January and 82 in February. Fourteen of those closing were deed restricted new construction units.

Pricing is relatively flat with an average sale price of $1.378m looking at rolling 12 month data.

Average price per square foot is also stable and flat with March at $794 a square foot with rolling 12 month data.

The months of supply is at 4.7 months. Expect this number to increase as inventory increases this spring.

Average showings per listing for the month was 2.7.

It takes 12 showings on average for a property to go under contract. Same number as last month.