Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2020. On a seasonal basis, August falls smack in the middle of the busiest season of the year 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 2020 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
• August 2020 – $293,252,195 generated from 368 transactions

In August 2020, the local real estate market showed a sharp turn-around from earlier setbacks in prior months resulting from the Covid-19 pandemic lockdown in Colorado. The total dollar volume of sales in August 2020 increased 23% from August 2019. And, the number of real estate transactions in Summit County in August 2020 increased a stunning 41% from August 2019.

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

• In July 2020, the number of real estate transactions in Summit County increased 6% from July 2019, and the total dollar volume of sales in July 2020 increased 10% from July 2019.
• In June 2020, the number of real estate transactions in Summit County decreased 32% from June 2019, and the total dollar volume of sales in June 2020 decreased 14% from June 2019.
• In May 2020, the number of real estate transactions in Summit County decreased 59% from May 2019, and the total dollar volume of sales in May 2020 decreased 58% from May 2019.
• In April 2020, the number of real estate transactions in Summit County decreased 45% from April 2019, and the total dollar volume of sales in April 2020 decreased 59% from April 2019.
• In March 2020, the number of real estate transactions in Summit County decreased 1% from March 2019, and the total dollar volume of sales in March 2020 decreased 2% from March 2019.
• In February 2020, the number of real estate transactions in Summit County decreased 5% from February 2019, and the total dollar volume of sales in February 2020 increased 3% from February 2019.

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.