Inventory is certainly low...just take a quick look at the map of Summit County with the total available residential properties for sale. Not much to pick and choose from in today's market.
In fact, the residential percent of the list to sold price is moving above 97% towards 98%. Not a lot of negotiation room or negotiation options. The increase in the number of sales in 2017 shows that there are a lot of buyers ready, willing and able to buy creating a bit more competition for the existing inventory.
As the second month of 2017 comes to a close, prices are up considerably. Interesting to note that the average list price today for residential property in Summit County is over $1.2 million! It is only the first two months of the year, but prices are up for homes, condos and basically all residential sales resulting in the average sold prices in 2017 for condos $427,646, residential sales $721,781 and for single family homes an average sold price of $1,420,356.