Summit County Sales
I attended a meeting with Mark Wadsworth of the Summit County Assessor's Office yesterday and leaned a lot about our market! For starters, I'm thankful for Mark and his team - and thankful that they do all of that grueling number crunching and analysis for us! Their analysis showed that for Summit County residential sales, the overall trend for the past 24 months has been downward at approximately -.30% per month. The last 7 months of sales prices appear to be stabilizing and the overall decline in valuation is less than previously projected (good news!) The total overall projected decrease for the past 24-month period is approximately 4% from the Assessor's 2011 values. Of course, this is an average, but I think it gives us a good overall picture of the health of our real estate market!
For an extremely interesting article on property values in Summit County making a modest comeback click here.
Here's to brighter days - and a snowy ski season!