November generates strong gains in Summit County real estate.

Summit County real estate sales posted strong gains in the month of November even against a strong 2013 month. Transactions for the period increased 19% to 203 while dollar sales were up 16% to $93.3 million. That was on top of gains of 20% and 10% in November of 2013.
For the full year, dollar sales are up 8% to $883.1 million while transaction volume has increased 5% to 1,868 sales.
Interestingly, transaction volume was relatively strong at both the low end and high end of the market while mid market properties represented a lesser percentage of sales than earlier in the year. Properties in the $200,000 to $400,000 range represented 45.1% of all transactions versus 37.5% year-to-date. Sales over $1.5 million were 3.8% of sales versus 2.8% for earlier in the year. Meanwhile sales between the $400,000 and $1.5 million range sagged to 39% of November transactions versus 47.1% for the first 11 months.
Average selling prices for the month showed little change from the prior ten months but continued to post solid gains from the prior year. Year to date single family average sales prices (ASPs) were $783,894, up slightly from $783,532 through October but had a healthy gain of 4.7% from this time a year ago. Multi-family housing dipped slightly from $360,005 in October to $355,997 in November but was up 3.7% from the YTD number for 2013. ASPs for raw land were down about 3% from the October YTD and last year at $321,489.

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