$39,900
11.99 Acres
Land
Harold J Loder, Listing Office: Country Boy Realty
Is Summit, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Summit was a Buyer'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
$250,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$39,000(+18.5%)
Key Takeaway
Homes in Summit have sold for 18.5% more than they did a year ago.
Summary: The median home sold price in Summit was $250,000 in November 2024, up 18.5% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $222.5K | +178.1% |
| 2 Bedrooms | $195K | $214.9K | +10.2% |
| 3 Bedrooms | $235K | $255K | +8.5% |
| 4 Bedrooms | $167.5K | $175K | +4.5% |
| 5+ Bedrooms | - | $325K | N/A |
Summary: Summit housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 178.1%, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes did not change.
Housing Supply in Summit, NY
How many homes are available in Summit, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Summary: The Summit real estate market had 13 homes for sale in November 2024, a 13.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Summit housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Summit in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 40 Days | 66 Days | +66.3% |
Summary: Homes in Summit had an average of 66 days on market in Nov 2024, up by 66.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Summit are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 4 homes were sold in Summit; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.