Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for April 2022. On a seasonal basis, April falls in the middle of the slower winter season for Summit County real estate. Historically, the Summit County real estate market has its highest level of activity during the summer and 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 2022 to the month of April in recent years, the totals were as follows:

• 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
• April 2019 – $153,170,489 generated from 166 transactions
• April 2020 – $63,531,993 generated from 92 transactions
• April 2021 – $217,485,200 generated from 231 transactions
• April 2022 – $222,906,754 generated from 156 transactions

Looking at the preceding numbers, the total dollar volume of sales in April 2022 increased 2% from April 2021. However, as tight Summit County housing inventory continued, the number of real estate transactions in Summit County in April 2022 decreased 32% from the frenetically paced activity of April 2021.

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

• In March 2022, the number of real estate transactions in Summit County decreased 37% from March 2021, and the total dollar volume of sales in March 2022 decreased 17% from March 2021.
• In February 2022, the number of real estate transactions in Summit County decreased 29% from February 2021, and the total dollar volume of sales in February 2022 decreased 10% from February 2021.
• In January 2022, the number of real estate transactions in Summit County decreased 23% from January 2021, and the total dollar volume of sales in January 2022 increased 28% from January 2021.
• In December 2021, the number of real estate transactions in Summit County decreased 35% from December 2020, and the total dollar volume of sales in December 2021 decreased 13% from December 2020.
• In November 2021, the number of real estate transactions in Summit County decreased 40% from November 2020, and the total dollar volume of sales in November 2021 increased 25% from November 2020.
• In October 2021, the number of real estate transactions in Summit County decreased 26% from October 2020, and the total dollar volume of sales in October 2021 decreased 20% from October 2020.

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. And, I’ve also recently written about the recent Summit County short-term rental regulation changes.

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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.