February 2023 Summit County Market Update

Condos and townhomes in Summit County appreciated by over 6% from January 2022, while closed sales and inventory had a -36% decrease and +36% increase respectively, which is the same trend we have been seeing in recent months. I suspect this will look a bit different when we see February’s numbers as the number of buyers out there actively searching seems to be increasing again while inventory remains very limited.

Single family homes in Summit County saw a price decline of -33.9% YOY and of about -$20,000 from December. We also continued to see fewer closings, which were down to 20 from 28 from January 2022, and inventory increased by over 61% to a 100 units on the market.

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