Real estate at a glance: Total sales through May | SummitDaily.com
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Real estate at a glance: Total sales through May

Chuck Leathers

Approaching the end of the first half of 2011, our market shows continued signs of solid, steady recovery. The average sale price through May is 8.3% ahead of last year to date with no high dollar launches or tax incentives this year to cook the numbers; more evidence that prices are stabilizing at this level. The number sold is 16.5 percent ahead of last year to date as well. Buyers are accepting that the economy will be uncertain for longer than they are willing to wait. There is a lot of pent-up demand after two deadly slow years and a lot of money sitting idle. Perhaps half of our market is cash sales now as mortgage bankers continue to work on their golf games.

The inventory has risen to just under 2,200 for sale as we approach the peak which was 2,700 last year.

Real estate fact of the week

-11.4 percent… change in average Summit County sale price since the peak in 2008.

8.5 percent… 20-year average sale price change per year to date.

Chuck Leathers is the broker/owner of Chuck Leathers Real Estate Co. He can be reached at (888) 485-2300 or email him at ChuckLeathers@Realtor.com


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