Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2016. On a seasonal basis, August falls right in the midst of the busiest season for local real estate. The Summit County real estate market generally 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 August 2016 to the month of August in recent years, the totals were as follows:

• August 2010 – $79,753,200 generated from 117 transactions
• August 2011 – $65,898,700 generated from 150 transactions
• August 2012 – $71,800,475 generated from 162 transactions
• August 2013 – $108,430,700 generated from 221 transactions
• August 2014 – $95,422,383 generated from 214 transactions
• August 2015 – $142,534,040 generated from 267 transactions
• August 2016 – $139,223,249 generated from 282 transactions

Looking at these statistics, the local real estate market in August 2016 stayed fairly flat in comparison with August 2015. The total dollar volume of sales in August 2016 decreased 2% from August 2015. However, the number of real estate transactions in Summit County in August 2016 increased 6% from August 2015.

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

• In July 2016, the number of real estate transactions in Summit County increased 6% from July 2015, and the total dollar volume of sales in July 2016 decreased by 11% from July 2015.
• In June 2016, the number of real estate transactions in Summit County decreased 16% from June 2015, and the total dollar volume of sales in June 2016 decreased by 13% from June 2015.
• In May 2016, the number of real estate transactions in Summit County decreased 4% from May 2015, and the total dollar volume of sales in May 2016 decreased by 1% from May 2015.
• In April 2016, the number of real estate transactions in Summit County increased 1% from April 2015, and the total dollar volume of sales in April 2016 decreased by 4% from April 2015.
• In March 2016, the number of real estate transactions in Summit County decreased 9% from March 2015, and the total dollar volume of sales in March 2016 increased by 4% from March 2015.
• In February 2016, the number of real estate transactions in Summit County jumped ahead by 19% from February 2015, and the total dollar volume of sales in February 2016 likewise increased by a whopping 33% from February 2015.
• In January 2016, the number of real estate transactions in Summit County decreased 2% from January 2015, and the total dollar volume of sales in January 2015 likewise decreased 5% from January 2015.

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.