Land Title Guarantee Company just released its monthly Summit County real estate market analysis for October 2012. As it turns out, this is the best month for transaction numbers since April 2007 and also the best month for gross volume since September 2008.

As part of its analysis, LTGC provided the monthly percentage change in total dollar volume & total number of real estate transactions across Summit County. Comparing October 2012 to the month of October in recent years, the totals were as follows:

• October 2009 – $92,709,100 generated from 160 transactions
• October 2010 – $79,749,200 generated from 154 transactions
• October 2011 – $67,816,300 generated from 161 transactions
• October 2012 – $104,706,100 generated from 230 transactions

Looking at these statistics, the number of real estate transactions in Summit County in October 2012 increased by an amazing 43% over October 2011. The total dollar volume of sales in October 2012 likewise increased 54% over October 2011.

To briefly recap results reported over prior months, in September 2012, the number of Summit County real estate transactions decreased ever so slightly in comparison to September 2011, but the total dollar volume of sales in September 2012 increased 10% over September 2011. The number of Summit County real estate transactions and the total dollar volume of sales were both higher in August 2012 than in August 2011. Likewise, for Summit County real estate in July 2012, the number of real estate transactions and the total dollar volume of sales were both significantly higher over July 2011. The number of transactions in June 2012 increased slightly over June 2011, but the total dollar volume of sales decreased in June 2012 in comparison to June 2011. For Summit County real estate in May 2012, the market analysis included significant increases in both dollar volume and number of transactions over May 2011.

Looking at the year to date through October 31, there have been 1285 residential transactions in 2012 and $618,829,700 in gross volume. During the comparable period of time in 2011 from January through October, there were only 1166 transactions and $564,080,000 in gross volume. So, the Summit County real estate market is now trending significantly upward this year.

If you’re interested in buying a Summit County home, there are of course plenty of great opportunities available. Please don’t hesitate to contact Philip for help.

Summit County Listings Added Within Last 3 Weeks

The market analysis information and representations regarding market analysis above are based in whole or in part on information provided by Land Title Guarantee Company. Although the information above is believed to be true and correct, the information cannot be guaranteed. Therefore, neither SummitRealtor.com nor Land Title Guarantee Company can in any way be held responsible for its accuracy. The data above does not reflect all real estate activity in the market.