Home Values

Summit County Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$114,500

  • 4.0% 1-year change
  • 2.4% 1-year forecast

The median home value in Summit County is $114,500. Summit County home values have gone up 4.0% over the past year and Zillow predicts they will rise 2.4% within the next year. The median list price per square foot in Summit County is $78, which is lower than the Akron Metro average of $82. The median price of homes currently listed in Summit County is $110,000 while the median price of homes that sold is $129,085. The median rent price in Summit County is $750.

Foreclosures will be a factor impacting home values in the next several years. In Summit County 14.7 homes are foreclosed (per 10,000). This is greater than the Akron Metro value of 13.1 and also greater than the national value of 4.2

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 5.7%, which is lower than the national value of 6.4%. 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 18.9%, which is higher than Akron Metro at 18.1%.

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Relative ZHVI
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Summit County Market Overview

Data through Nov 30, 2014
  • $114,500 ZHVI
  • 2.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $110,000 Median listing price
  • $129,085 Median sale price
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Summit County Market Health

Data through Nov 30, 2014
  • 0.5/10 Less healthy
    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.
  • 93 Average days on Zillow (Oct 31, 2014)
  • 18.9% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 5.7% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

14.7 homes Summit County
13.1 homes Akron Metro
4.2 homes United States
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Cities in Summit County

Name Median ZHVI
Montrose-Ghent $296,700
Silver Lake $192,400
Fairlawn $165,200
Name Median ZHVI
Stow $153,800
Munroe Falls $151,100
Tallmadge $146,300
Name Median ZHVI
Cuyahoga Falls $112,400
Portage Lakes $102,500
Akron $61,800

Listings & Sales

Data through Nov 30, 2014
  • $78 Median list price / sq ft
  • $85 Median sale price / sq ft
  • No data Listings with price cut
27.1%
Sold below listing
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Summit County Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,038 Summit County
    $1,072 Akron Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $750 Rent list price
  • $0.73 Rent list price / sq ft
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