Summit County Real Estate Market Trends for August 2021
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for August 2021. On a seasonal basis, August falls within the midst of the busiest season of the calendar year for local real estate. Historically, 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 2021 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
- August 2021 – $304,177,859 generated from 262 transactions
By the time August 2020 arrived, the local real estate market had started mounting a terrific reversal from setbacks caused by the Covid-19 pandemic lockdown in the spring of 2020. Accordingly, property values increased in the local real estate market during August 2021, and listing inventory remained tight. However, the dollar volume and transaction numbers did not continue to experience significant gains when comparing 2021 to 2020. More specifically, the total dollar volume of sales in August 2021 increased a modest 4% from August 2020. And, the number of real estate transactions in Summit County in August 2021 actually decreased 29% from the frenzied activity of August 2020.
To recap Summit County real estate market trends from recent months:
- In July 2021, the number of real estate transactions in Summit County increased 6% from July 2020, and the total dollar volume of sales in July 2021 increased 32% from July 2020.
- In June 2021, the number of real estate transactions in Summit County increased 304% from June 2020, and the total dollar volume of sales in June 2021 increased 173% from June 2020.
- In May 2021, the number of real estate transactions in Summit County increased 304% from May 2020, and the total dollar volume of sales in May 2021 increased 173% from May 2020.
- In April 2021, the number of real estate transactions in Summit County increased 242% from April 2020, and the total dollar volume of sales in April 2021 increased 151% from April 2020.
- In March 2021, the number of real estate transactions in Summit County increased 95% from March 2020, and the total dollar volume of sales in March 2021 increased 127% from March 2020.
- In February 2021, the number of real estate transactions in Summit County increased 20% from February 2020, and the total dollar volume of sales in February 2021 increased 23% from February 2020.
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. And, I’ve also recently written about the recent short-term rental moratoriums and short-term rental caps adopted in Breckenridge and Summit County.
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Property listing data provided by Summit County multiple listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. The sale offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice. Copyright © 2003 - 2023 Buying Buddy. All rights reserved.
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.
