Summit County Home Prices & Values

$113,000 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 4.0% 1-year change
  • 2.3% 1-year forecast

The median home value in Summit County is $113,000. Summit County home values have gone up 4.0% over the past year and Zillow predicts they will rise 2.3% within the next year. The median list price per square foot in Summit County is $83, which is lower than the Akron Metro average of $86. The median price of homes currently listed in Summit County is $119,900 while the median price of homes that sold is $131,550. The median rent price in Summit County is $725, which is lower than the Akron Metro median of $775.

Foreclosures will be a factor impacting home values in the next several years. In Summit County 9.8 homes are foreclosed (per 10,000). This is greater than the Akron Metro value of 9.3 and also greater than the national value of 4.8

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Summit County is 6.5%, which is lower than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Summit County homeowners underwater on their mortgage is 20.8%, which is higher than Akron Metro at 20.0%.

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Relative ZHVI
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Summit County Market Overview

Data through May 31, 2014
  • $113,000 ZHVI
  • 2.3% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (May 31, 2015)
  • $119,900 Median listing price
  • $131,550 Median sale price
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Summit County Market Health

Data through May 31, 2014
  • 1.7/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 104 Average of days on Zillow (Apr 30, 2014)
  • 20.8% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 6.5% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

9.8 homes Summit County
9.3 homes Akron Metro
4.8 homes United States
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Cities in Summit County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Montrose-Ghent $279,600 Silver Lake $184,300 Fairlawn $158,400
Stow $145,800 Tallmadge $139,500 Munroe Falls $136,100
Cuyahoga Falls $109,500 Portage Lakes $105,300 Akron $62,000

Listings & Sales

Data through May 31, 2014
  • $83 Median list price / sq ft
  • $86 Median sale price / sq ft
  • 27.4% Listings with price cut
31.7%
Sold below listing
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Summit County Rentals

Data through May 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,034 Summit County
$1,069 Akron Metro
$1,310 United States
  • 2.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $725 Rent list price
  • $0.73 Rent list price / sq ft
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