Is Summit County, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$189,881
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Summit County have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Summit County was $189,881 in April 2024, up 4.2% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $78.3K | $85.5K | +9.1% |
| 2 Bedrooms | $120.1K | $130K | +8.2% |
| 3 Bedrooms | $175.3K | $183.4K | +4.6% |
| 4 Bedrooms | $282.9K | $292.5K | +3.4% |
| 5+ Bedrooms | $325K | $312.7K | -3.8% |
Summary: Summit County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Counties
| Medina County | $289.9K | $319.6K | +10.2% |
| Stark County | $179.9K | $194.2K | +7.9% |
| Portage County | $235.2K | $249.7K | +6.2% |
| Summit County | $182.1K | $189.8K | +4.2% |
| Cuyahoga County | $182.8K | $189.6K | +3.7% |
Housing Supply in Summit County, OH
How many homes are available in Summit County, OH?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,550 | 1,581 | +2.0% |
Summary: The Summit County real estate market had 1,581 homes for sale in April 2024, a 2.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 30 | 30 | 0.0% |
| 2 Bedrooms | 248 | 263 | +6.0% |
| 3 Bedrooms | 784 | 775 | -1.1% |
| 4 Bedrooms | 386 | 410 | +6.2% |
| 5+ Bedrooms | 102 | 103 | +1.0% |
Summary: The Summit County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 491 | 514 | +4.7% |
Asking Price vs. Sold Price
199 Homes Were Sold
Under Asking
88 Homes Were Sold
At Asking
227 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit County, you could pay more than the asking price. 44.2% of homes here sold above asking price last month.
Summary: A total of 514 homes were sold or pending in Summit County in April 2024, up by 4.7% month-over-month. Of the 514 sold homes, 39% were sold under asking, 17% were sold at asking, and 44% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 35 Days | 35 Days | -0.4% |
Summary: Homes in Summit County had an average of 35 days on market in Apr 2024, down by 0.4% compared to last year.
Breakdown of Home Sale Times
293 Homes Were Sold
Under 30 Days
169 Homes Were Sold
In 30 - 90 Days
52 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 514 homes were sold in Summit County; 57% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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