Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2018. On a seasonal basis, August falls in the midst of the busiest 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 2018 to the month of August in recent years, the totals were as follows:

• August 2011 – $65,898,700 generated from 98 transactions
• August 2012 – $71,800,475 generated from 131 transactions
• August 2013 – $108,430,700 generated from 163 transactions
• August 2014 – $95,422,383 generated from 201 transactions
• August 2015 – $142,534,040 generated from 202 transactions
• August 2016 – $139,223,249 generated from 215 transactions
• August 2017 – $170,248,375 generated from 253 transactions
• August 2018 – $235,727,859 generated from 211 transactions

Looking at these statistics, the local real estate market in August 2018 surged significantly ahead in comparison to August 2017. The total dollar volume of sales in August 2018 increased a whopping 38% from August 2017. And, the number of real estate transactions in Summit County in August 2018 likewise increased 17% from August 2017. So far this year, the Summit County market is 13% ahead of monetary volume but 12% behind in transactions when compared to the same period in 2017.

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

• In July 2018, the number of real estate transactions in Summit County decreased 17% from July 2017, and the total dollar volume of sales in July 2018 increased 2% from July 2017.
• In June 2018, the number of real estate transactions in Summit County increased 6% from June 2017, and the total dollar volume of sales in June 2018 surged 27% from June 2017.
• In May 2018, the number of real estate transactions in Summit County slightly decreased 1% from May 2017, and the total dollar volume of sales in May 2018 increased 8% from May 2017.
• In April 2018, the number of real estate transactions in Summit County increased 10% from April 2017, and the total dollar volume of sales in April 2018 surged 30% from April 2017.
• In March 2018, the number of real estate transactions in Summit County decreased 21% from March 2017, and the total dollar volume of sales in March 2018 likewise trended downward 30% from March 2017.
• In February 2018, the number of real estate transactions in Summit County surged 20% from February 2017, and the total dollar volume of sales in February 2018 likewise swelled 26% from February 2017.

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.