Summit County Real Estate Market Trends for August 2013
Land Title Guarantee Company recently released its monthly Summit County real estate market analysis for August 2013. Historically, August is one of the busiest months of the year. The local real estate market in Summit County tends to see its highest level of activity during the summer months.
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 August 2013 to the month of August in recent years, the totals were as follows:
- August 2008 – $92,825,200 generated from 183 transactions
- August 2009 – $60,975,000 generated from 114 transactions
- August 2010 – $79,753,200 generated from 117 transactions
- August 2011 – $65,898,700 generated from 150 transactions
- August 2012 – $68,804,575 generated from 159 transactions
- August 2013 – $105,465,200 generated from 216 transactions
Looking at these statistics, August 2013 was simply a fantastic month for the local property market. The number of real estate transactions in Summit County in August 2013 posted a huge increase of 36% over August 2012. The total dollar volume of sales in August 2013 increased an amazing 53% over August 2012. For number of property transactions and total dollar volume, August 2013 was the best month of this year so far. It was also the best individual month of August since 2007. Overall, for the first eight months of 2013, Summit County is ahead by 22% in monetary volume ($521,770,800) and ahead 25% for total transactions (1,121) – in comparison to the same period in 2012.
To briefly recap results reported over prior months:
- In July 2013, the number of real estate transactions in Summit County in July 2013 increased 23% over July 2012, and the total dollar volume of sales in July 2013 likewise increased 9% over July 2012.
- In June 2013, the number of real estate transactions in Summit County in June 2013 spiked 28% over June 2012, and the total dollar volume of sales in June 2013 likewise surged 17% over June 2012.
- In May 2013, the number of real estate transactions and total dollar volume of sales in Summit County both increased by 18% over May 2012.
- In April 2013, the number of real estate transactions in Summit County increased by 19% over April 2012, and the total dollar volume of sales in April 2013 surged 22% over April 2012.
- In March 2013, the number of real estate transactions in Summit County in March 2013 increased by an enormous 46% over March 2012. And, the total dollar volume of sales in March 2013 increased 25% over March 2012.
- Turning to February 2013, the number of real estate transactions in Summit County in February 2013 increased by 16% over February 2012. However, the total dollar volume of sales in February 2013 decreased slightly by 6% over February 2012.
- Finally, in January 2013, the total dollar volume of sales in January 2013 surged 33% over January 2012. Meanwhile, the number of real estate transactions in Summit County in January 2013 increased by 13% over January 2012.
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 with Price Reduction in Last 21 Days
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.