Is Summit, NY 12175 a buyer’s or seller’s market?
Summit is a buyer’s market. With about 12.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Summit housing market right now
In the three months ending August 31, 2026, 0% of homes in Summit, NY 12175 sold above their list price, the typical home went under contract in 51 days and there were 12.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 100%, homes sold more slowly (19 days then) and the median sale price fell 32% to $145,937. Overall, Summit is less competitive than a year ago, which gives buyers more room.
Within Schoharie County, homes here sell more slowly than in 57% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, North Blenheim 12131 (100% sold over asking) and Richmondville 12149 (67% sold over asking) are even more competitive.
Run the numbers for 12175
Nearby markets
Carlisle 12031 — /sq ftCentral Bridge 12035Seller’s market $117 /sq ftCharlotteville 12036Seller’s market — /sq ftCobleskill 12043Balanced $150 /sq ft Browse all markets →Where Summit is
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Questions about Summit real estate
Is Summit a buyer’s or seller’s market?
A buyer’s market: there were 12.8 months of supply in Summit, NY 12175 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Summit?
The typical home went under contract in 51 days in the latest three months.
Do homes in Summit sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 81.5% of the list price.
What are property taxes in Summit?
About 2.03% of a home’s value a year in Schoharie County, or roughly $8,120 on a $400,000 home.
What is the median home price in Summit?
The median sale price was $145,937 in the three months ending August 31, 2026, about $162 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology