$5,047 Closing Credit*
$425,000
1,728 SqFt
3 Beds
•2 Full Baths
Dean Nunamann, Listing Office: Century 21 Rural Estates
Is Summit, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Summit has remained a Seller's Market.
Key Takeaway
Summit is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit, NY
How much do homes in Summit, NY cost?
Median Sold Price
$237,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+9.2%)
Key Takeaway
Homes in Summit have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Summit was $237,500 in October 2024, up 9.2% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $222.5K | +178.1% |
| 2 Bedrooms | $195K | $204.9K | +5.1% |
| 3 Bedrooms | $235K | $255K | +8.5% |
| 4 Bedrooms | $215K | $60K | -72.1% |
| 5+ Bedrooms | - | $297.5K | N/A |
Summary: Summit housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 178.1%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 72.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Summit | $217.5K | $237.5K | +9.2% |
| Worcester | $185K | $148.3K | -19.8% |
Housing Supply in Summit, NY
How many homes are available in Summit, NY?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Summary: The Summit real estate market had 14 homes for sale in October 2024, a 17.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Summit housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Summit in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Summit, NY
How long does it take to sell a home in Summit, NY?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 9 Days | 67 Days | +624.3% |
Summary: Homes in Summit had an average of 67 days on market in Oct 2024, up by 624.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Summit; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
The data relating to real estate on this website comes in part from the Internet Data Exchange program of the Global MLS (GMLS). All information is deemed reliable but not guaranteed and should be independently verified. All properties subject to prior sale, change, or withdrawal. Neither listing broker(s), GMLS shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. 
Listings courtesy of OneKey MLS as distributed by MLS GRID.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.