Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2017. On a seasonal basis, August falls in the midst of the busy summer 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 August 2017 to the month of August in recent years, the totals were as follows:

• 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
• August 2017 – $170,248,375 generated from 272 transactions

Looking at these statistics, the local real estate market in August 2017 had mixed results in comparison to August 2016. The total dollar volume of sales in August 2017 increased a significant 22% from August 2016. However, the number of real estate transactions in Summit County in August 2017 slightly decreased 4% from August 2016. Nonetheless, the Summit County real estate market continues to move in a positive direction.

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

• In July 2017, the number of real estate transactions in Summit County increased 41% from July 2016, and the total dollar volume of sales in July 2017 increased 18% from July 2016.
• In June 2017, the number of real estate transactions in Summit County increased 6% from June 2016, and the total dollar volume of sales in June 2017 increased 20% from June 2016.
• In May 2017, the number of real estate transactions in Summit County increased 10% from May 2016, and the total dollar volume of sales in May 2017 remained flat from May 2016.
• In April 2017, the number of real estate transactions in Summit County increased 22% from April 2016, and the total dollar volume of sales in April 2017 surged ahead 28% from April 2016.
• In March 2017, the number of real estate transactions in Summit County surged 31% from March 2016, and the total dollar volume of sales in March 2017 increased by a whopping 43% from March 2016.
• In February 2017, the number of real estate transactions in Summit County decreased 8% from February 2016, and the total dollar volume of sales in February 2017 increased by 6% from February 2016.

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.