Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2014. On a seasonal basis, August is in the middle of the big summer buying and selling season. The local real estate market in Summit County tends to see 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 August 2014 to the month of August in recent years, the totals were as follows:

• 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
• August 2014 – $88,825,100 generated from 203 transactions

Looking at these statistics, the local real estate market in August 2014 trended downward in comparison to August 2013. The number of real estate transactions in Summit County in August 2014 decreased 6% from August 2013. The total dollar volume of sales in August 2014 decreased 16% from August 2013. On a national basis, the National Association of Realtors reported foot traffic for home listings jumped significantly in September. That bodes well for the possibility of strengthening home sales throughout the fall.

To recap Summit County real estate market trends this year:

• In July 2014, the number of real estate transactions in Summit County increased 26% from July 2013, and the total dollar volume of sales in July 2014 increased 32% from July 2013.
• In June 2014, the number of real estate transactions in Summit County increased 6% from June 2013, and the total dollar volume of sales in June 2014 increased 1% from June 2013.
• In May 2014, the number of real estate transactions in Summit County increased 10% from May 2013, and the total dollar volume of sales in May 2014 increased 13% from May 2013.
• In April 2014, the number of real estate transactions in Summit County decreased 13% in comparison to April 2013, and the total dollar volume of sales in April 2014 decreased 7% from April 2013.
• In March 2014, the number of real estate transactions in Summit County increased 1% in comparison to March 2013, and the total dollar volume of sales in March 2014 increased a huge 30% from March 2013.
• In February 2014, the number of real estate transactions in Summit County decreased 10% in comparison to February 2013, and the total dollar volume of sales in February 2014 decreased 1% from February 2013.
• In January 2014, the number of real estate transactions in Summit County decreased 6% in comparison to January 2013, and the total dollar volume of sales in January 2014 decreased 2% from January 2013.

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.

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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.