Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2019. 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 2019 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
• August 2018 – $235,727,859 generated from 319 transactions
• August 2019 – $239,126,600 generated from 261 transactions

Looking at these statistics, the local real estate market in August 2019 had mixed results in comparison to August 2018. The total dollar volume of sales in August 2019 increased 1% from August 2018. However, the number of real estate transactions in Summit County in August 2019 decreased 18% from August 2018. At the end of August 2019, the Summit County market is 5% ahead of the first eight months of 2019 in terms of total dollar volume of real estate sales.  However, the total number of transactions thus far are 10% less than the first eight months of 2018.

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

• In July 2019, the number of real estate transactions in Summit County increased 3% from July 2018, and the total dollar volume of sales in July 2019 increased 12% from July 2018.
• In June 2019, the number of real estate transactions in Summit County decreased 28% from June 2018, and the total dollar volume of sales in June 2019 decreased 27% from June 2018.
• In May 2019, the number of real estate transactions in Summit County increased 13% from May 2018, and the total dollar volume of sales in May 2019 increased 17% from May 2018.
• In April 2019, the number of real estate transactions in Summit County decreased 20% from April 2018, but the total dollar volume of sales in April 2019 increased 3% from April 2018.
• In March 2019, the number of real estate transactions in Summit County decreased 4% from March 2018, but the total dollar volume of sales in March 2019 increased 18% from March 2018.
• In February 2019, the number of real estate transactions in Summit County decreased 5% from February 2018, but the total dollar volume of sales in February 2019 increased 17% from February 2018.

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.