Understanding where the real estate market stands is key for both buyers and sellers. Right now, many clients are asking me: “Is Summit County in a balanced market, or has it shifted to favor buyers?” Let’s start with a quick breakdown.

What is a Balanced Market?

A balanced market occurs when supply (homes for sale) and demand (active buyers) are relatively equal.

  • Months of Supply: About 5–6 months of inventory.

  • Pricing: Values rise slowly, in line with inflation.

  • Negotiation: Buyers and sellers have relatively equal leverage. Concessions are modest, but sellers can still expect fair offers.

What is a Buyer’s Market?

A buyer’s market develops when there are more homes available than buyers.

  • Months of Supply: Typically 6+ months of inventory.

  • Pricing: Home prices may soften or decline as sellers compete.

  • Negotiation: Buyers have the upper hand, often securing lower prices, incentives, or favorable terms. Sellers must stand out through pricing, staging, or concessions.

Market Insights: 2025 So Far

The luxury market continues to shine. In Summit County, single-family homes over $10 million surged 150% year-to-date, while properties in the $1.5M–$2M range climbed 79%. Cash deals are also on the rise, making up 45% of all transactions in August.

That said, homes in Summit, Park, and Lake counties are spending about 40% more time on the market compared to last year. With higher inventory, buyers are “cherry-picking” — gravitating toward well-located, well-priced properties while passing over listings with unrealistic price expectations.

Advice for Sellers

I always counsel sellers to stay grounded in today’s market reality. Buyers are savvy and patient — they know what’s available, and they’re waiting for the right property. Listings that are priced correctly often go under contract quickly, while those priced too high sit longer and face tougher negotiations.

My Take: Balanced or Buyer’s Market?

Here’s my synopsis of Summit County’s current landscape:

  • Luxury Market: Balanced and performing strongly.

  • Well-Priced Properties: Also falling into a balanced market — attracting educated buyers.

  • Overpriced Homes: Squarely in buyer’s market territory, especially if lacking standout qualities like location, views, or STR (short-term rental) eligibility.

 

In short, the market is segmented. For sellers who price strategically and present their homes well, opportunities remain strong. For buyers, patience and selectivity are paying off.