Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for April 2020. On a seasonal basis, April falls in the midst of the slower 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 2020 to the month of April in recent years, the totals were as follows:

• April 2011 – $45,046,200 generated from 103 transactions
• April 2012 – $38,893,960 generated from 86 transactions
• April 2013 – $55,149,780 generated from 128 transactions
• April 2014 – $67,244,100 generated from 125 transactions
• April 2015 – $83,058,500 generated from 149 transactions
• April 2016 – $86,347,800 generated from 136 transactions
• April 2017 – $123,142,000 generated from 178 transactions
• April 2018 – $86,558,600 generated from 140 transactions
• April 2019 – $101,948,344 generated from 135 transactions
• April 2020 – $63,531,993 generated from 92 transactions

Looking at these statistics, the local real estate market in April 2020 experienced a massive setback in comparison to April 2019. The total dollar volume of sales in April 2020 decreased 59% from April 2019. And, the number of real estate transactions in Summit County in April 2020 decreased 45% from April 2019. The losses here reflect the beginning of the effects of the Covid-19 pandemic lockdown on our local real estate market.

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

• In March 2020, the number of real estate transactions in Summit County decreased 1% from March 2019, and the total dollar volume of sales in March 2020 decreased 2% from March 2019.
• In February 2020, the number of real estate transactions in Summit County decreased 5% from February 2019, and the total dollar volume of sales in February 2020 increased 3% from February 2019.
• In January 2020, the number of real estate transactions in Summit County decreased 3% from January 2019, and the total dollar volume of sales in January 2020 decreased 13% from January 2019.
• In December 2019, the number of real estate transactions in Summit County increased 29% from December 2018, and the total dollar volume of sales in December 2019 increased 27% from December 2018.
• In November 2019, the number of real estate transactions in Summit County increased 2% from November 2018, and the total dollar volume of sales in November 2019 increased 10% from November 2018.
• In October 2019, the number of real estate transactions in Summit County increased 21% from October 2018, and the total dollar volume of sales in October 2019 increased 9% from October 2018.

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.