Sales cool in September but still show gains.

Summit County real estate sales gains moderated in September but the month still represented the highest activity this year. Dollar volume in the month rose 13% year-over-year (YOY) to $165.7 million dollars. Transaction volume rose a more modest 5% to 301 transactions. As occasionally happens the completion of a major multi-family project did help skew the numbers upwards. The second phase of the high end Water House complex was completed and 17 properties totaling almost $17 million in dollar volume closed during the month. Without those sales, both dollar volume and transactions would have been down slightly from a year ago but still would represent the highest numbers so far this year.
Year to date, dollar sales are up 32% to $964.6 million and transaction volume has risen 19% to 1,772 sales.
The year-to-date average selling price (ASP) for single family homes stands at $855,027 up a few hundred dollars from August but up 10% from this time a year ago and up 9% for all of 2014. The multi-family ASP figure rose by $5,100 to $398,617 and now stands about 11% ahead of the 2014 figure. The Water House helped contribute to that rise with its 17 units averaging $990,000 each.
During the month, the price point mix of sales did not vary dramatically though the $300,000 to $500,000 range represented 26.4% of sales versus its prior 2015 average of 31% and the $1-2 million range rose to 10.2 % versus 7.3% in the prior eight months.