Best September for Summit County real estate in five years.

Real estate activity in September saw its best numbers in the last five years. Transaction volume increased 13% from August and 54% from the year ago period to 244 sales. That is the highest transaction volume since November of 2007 with 281 sales.
Dollar volume rose more modestly versus the prior month, up about 1% but was still 21% ahead of September 2012 and at $106.5 million, the highest number since October of 2008.
These gains continue the stronger trend we have seen all year. Year-to-date (YTD) transaction volume is up 29% to 1,365 and dollar volume has risen 22% to $628.3 million.
As the disparity in volume vs transaction percentage gains suggests, demand in the month did shift to the lower end of the market. Sales under $300,000 accounted for 36.5%of the total transactions versus 31.5% in the prior 8 months and there were no sales in excess of $2 million while there had been 11 earlier this year including five sales over $3 million.
As a result of that shift, YTD average selling prices in the single family category dipped to $755,437 from $770,858 at the end of August. That number was also below the average sales price for all of 2012 which was $764,455.
Multi-family pricing faired somewhat better actually rising to $345,573 besting the $342,417 of August but still trailing the $353,339 for all of 2012. Raw land ASPs also fell in the month to $328,417 versus $347,101 in August but are still ahead of the $309,512 of a year ago.