Is Summit County, OH a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summit County is a seller's market

Buyer's
Market

Difference Since June 2023

Since last year, Summit County has remained a Seller's Market.

Key Takeaway

Summit County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Summit County, OH

How much do homes in Summit County, OH cost?

Median Sold Price

$192,690

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$11,562(+6.4%)

Key Takeaway

Homes in Summit County have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Summit County was $192,690 in June 2024, up 6.4% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $75K$89.9K
+19.9%
2 $120.3K$135.7K
+12.8%
3 $175K$186.9K
+6.8%
4 $281.5K$293.6K
+4.3%
5+ $332.6K$321.6K
-3.3%

Summary: Summit County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.9%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Counties

Stark County
+10.0%
Medina County
+9.6%
Summit County
+6.4%
Portage County
+5.9%
Cuyahoga County
+4.5%

Housing Supply in Summit County, OH

How many homes are available in Summit County, OH?

Number of Homes For Sale

May 2024Jun 2024CHANGE
1,7541,733-1.2%

Summary: The Summit County real estate market had 1,733 homes for sale in June 2024, a 1.2% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 2717
-37.0%
2 283261
-7.8%
3 844832
-1.4%
4 477484
+1.5%
5+ 123139
+13.0%

Summary: The Summit County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 37%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

May 2024Jun 2024CHANGE
584497-14.9%

Asking Price vs. Sold Price

161 Homes Were Sold
Under Asking

78 Homes Were Sold
At Asking

257 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summit County, you could pay more than the asking price. 51.8% of homes here sold above asking price last month.

Summary: A total of 497 homes were sold or pending in Summit County in June 2024, down by 14.9% month-over-month. Of the 496 sold homes, 32% were sold under asking, 16% were sold at asking, and 52% were sold over asking.

Days on Market for Summit County, OH

How long does it take to sell a home in Summit County, OH?

Average Sale Time

Jun 2023Jun 2024CHANGE
24 Days27 Days+10.7%

Summary: Homes in Summit County had an average of 27 days on market in Jun 2024, up by 10.7% compared to last year.

Breakdown of Home Sale Times

342 Homes Were Sold
Under 30 Days

129 Homes Were Sold
In 30 - 90 Days

26 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Summit County are selling fast, if you're buying plan to act quickly.

Summary: During June 2024, 497 homes were sold in Summit County; 69% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Summit County, OH

Nearby Markets to Summit County, OH

What housing markets are near Summit County, OH?