Land Title Guarantee Company recently recently released its monthly Summit County Real Estate Market Trends for April 2018. On a seasonal basis, April falls within the quiet winter season for local real estate. The Summit County real estate market has its highest level of activity during the summer and early fall.

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 April 2018 to the month of April in recent years, the totals were as follows:

• April 2011 – $66,323,300 generated from 106 transactions
• April 2012 – $55,250,700 generated from 119 transactions
• April 2013 – $64,956,000 generated from 136 transactions
• April 2014 – $62,554,700 generated from 124 transactions
• April 2015 – $92,373,585 generated from 153 transactions
• April 2016 – $89,007,327 generated from 155 transactions
• April 2017 – $114,226,938 generated from 189 transactions
• April 2018 – $148,159,921 generated from 207 transactions

Looking at these statistics, the local real estate market in April 2018 took a big step forward from April 2017. The total dollar volume of sales in April 2018 increased 30% from April 2017. Likewise, the number of real estate transactions in Summit County in April 2018 rose 10% from April 2017. The April 2018 numbers also represent a significant increase from the numbers posted in March 2018. When the data becomes available, it will be interesting to see whether May 2018 numbers continue this upward trend.  So far this year, the Summit County market is 3% ahead of monetary volume and 2% ahead in transactions when compared to the first four months of 2017.

To recap Summit County real estate market trends from recent months:

• In March 2018, the number of real estate transactions in Summit County decreased 21% from March 2017, and the total dollar volume of sales in March 2018 likewise trended downward 30% from March 2017.
• In February 2018, the number of real estate transactions in Summit County surged 20% from February 2017, and the total dollar volume of sales in February 2018 likewise swelled 26% from February 2017.
• In January 2018, the number of real estate transactions in Summit County increased 6% from January 2017, and the total dollar volume of sales in January 2018 decreased 5% from January 2017.
• In December 2017, the number of real estate transactions in Summit County increased 13% from December 2016, and the total dollar volume of sales in December 2017 surged 25% from December 2016.
• In November 2017, the number of real estate transactions in Summit County decreased 14% from November 2016, and the total dollar volume of sales in November 2017 decreased 18% from November 2016.
• In October 2017, the number of real estate transactions in Summit County increased 22% from October 2016, and the total dollar volume of sales in October 2017 surged ahead 43% from October 2016.

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

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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.