The 2 years of buyer frenzy that we witnessed in most markets across the Country, but especially in our own backyard, seems to have waned. Gone are the days of multiple offers, sellers pushing the price, and Sales Price to List Price over 100%. Factors such as rising interest rates, short-term rental moratoriums/regulation changes, and a struggling stock market all contribute to a downward trend in average and median prices.
When looking at year over year, our numbers still look very good. In other words, if you are a seller, you will still likely fare better today than you would have 1 year ago. However, today’s numbers have dropped compared to the first half of 2022.
To get a glimpse of what the Summit County Real Estate market has done in 2022, please see the graph below.
