S
ummit County's real estate market is experiencing a unique phenomenon, with buyers and sellers having differing opinions on whether it's a buyer's or seller's market. According to local agents, the area has been in a flat and balanced market since summer 2025, with an average six months of supply between all property types.

    Real estate agent Dana Cottrell notes that this summer's trends show seven months worth of supply, still within a balanced market range. The Multiple Listing Service data for July 2025 shows 1,299 active listings, the highest number in recent history since 2020. This increased inventory gives buyers more options and leverage.

    However, despite the abundance of listings, prices are rising, favoring sellers. The median sales price for single-family homes jumped around 10% year-over-year from $1.6 million to $1.76 million. Agents attribute this increase to buyers purchasing newer properties that drive up the average sales price.

    Real estate agent Dishon Lutz notes that Summit County's market is insulated and unique, with fewer first-time homebuyers and more cash transactions compared to other markets. Buyers are showing interest in newer homes built within the past five to 10 years.

    The condominium and townhome market has seen significant growth, with a 23.1% increase in sales for properties priced between $1.5 million and $1.99 million, and a 54.8% increase for those priced between $2 million and $2.49 million. However, the average spent on condos and townhomes decreased from $920,246 to $864,882.

    Agents attribute this trend to buyers being more patient and taking their time to find the right property, rather than feeling pressured to make a quick purchase.