The Yin & Yang of Summit County Real Estate

October 2007 brought significantly fewer real estate sales than October 2006; a trend that has held true for every month of 2007 with the exception of July. Summit County properties that are already somewhere in the foreclosure process number 76. That's triple the number there were earlier this year. Hearing statistics like these may cause you some alarm and make you ready to declare the wave of doom and gloom that has engulfed the national real estate market has finally reached Summit County. Don't dispair. It's just the forces of Yin and Yang hard at work.

The Yin-Yang symbol is a symbol that represents the ancient Chinese understanding of how things work. In the symbol the outer circle represents "everything." The Yin (black) and Yang (white) shapes within the circle are the positive and negative forces that are constantly moving and cause everything to happen. The small circles indicate neither of these energies is completely black or white. One cannot exist without the other. The belief is that this type of energy exists within every process in the universe.

Keeping the Yin-Yang philosophy in mind, let's take another look at the Summit County real estate market. As I mentioned previously, October, and the entire year up to this point, have produced fewer sales than 2006 but the average sales price continues to climb. October's average sales price for all residential properties in Summit County was $578,800. That's nearly $100,000 higher than the same average sales price one year ago. The average number of days properties took to sell is also declining. Properties sold quicker in September than in any other month in 2007; creating the county-wide average for October of 111 days. But what about all those foreclosures? A closer look at the data will show you that 53 of the 76 properties are time shares, the majority of which are valued at less than $20,000. Adding this information definately paints a different picture of the local real estate market.

Look again at the Yin-Yang symbol. As you stare at this symbol you will notice that it is difficult to focus on both the black and the white areas. You'll find yourself seeing either mostly the black or mostly the white areas. You have to conciously make an effort to see both colors equally. Life is the same way. You naturally focus on either positive or negative events and must make a concious effore to see both. The national media has us all focusing on the black or negative right now. I challenge you to see both sides of the real estate market in your area. If you look, you'll find it. If you are feeling a little crazy, look at everything in your life. Are you focusing more on the Yin or Yang? Could simply a new perspective change the way you see the world?

A more in depth look at the statistics that help us to gauge the status of the current Summit County real estate market will be coming up soon. Don't miss it!