Summit County Real Estate Market Trends for December 2014
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for December 2014. On a seasonal basis, December usually sees a significant drop-off in real estate activity, since it’s in the midst of the holiday season. The local real estate market in Summit County tends to see 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 December 2014 to the month of December in recent years, the totals were as follows:
- December 2009 – $102,685,700 generated from 178 transactions
- December 2010 – $70,755,100 generated from 154 transactions
- December 2011 – $61,627,700 generated from 140 transactions
- December 2012 – $87,217,800 generated from 185 transactions
- December 2013 – $69,685,806 generated from 132 transactions
- December 2014 – $79,465,900 generated from 174 transactions
Looking at these statistics, the local real estate market in December 2014 trended upward significantly in comparison to December 2013. The number of real estate transactions in Summit County in December 2014 increased a staggering 32% from December 2013. The total dollar volume of sales in December 2014 also markedly trended upward about 14% from December 2013.
In briefly reflecting on the full year of 2014 property sales in Summit County, it certainly appears the local real estate market continued to build on the momentum of recent years. Market values remained stable with averages prices for single family homes and multi-family dwellings both rising 4% over 2013. For the entire year, the total dollar volume of sales in Summit County increased about 8% over 2013, and the total number of transactions in 2014 increased about 7% over 2013.
To recap Summit County real estate market trends throughout each month of 2014:
- In November 2014, the number of real estate transactions in Summit County increased 19% from November 2013, and the total dollar volume of sales in November 2014 increased 16% from November 2013.
- In October 2014, the number of real estate transactions in Summit County increased 5% from October 2013, and the total dollar volume of sales in October 2014 increased 6% from October 2013.
- In September 2014, the number of real estate transactions in Summit County increased 11% from September 2013, and the total dollar volume of sales in September 2014 increased 19% from September 2013.
- In August 2014, the number of real estate transactions in Summit County increased 26% from August 2013, and the total dollar volume of sales in August 2014 increased 32% from August 2013.
- In July 2014, the number of real estate transactions in Summit County increased 26% from July 2013, and the total dollar volume of sales in July 2014 increased 32% from July 2013.
- In June 2014, the number of real estate transactions in Summit County increased 6% from June 2013, and the total dollar volume of sales in June 2014 increased 1% from June 2013.
- In May 2014, the number of real estate transactions in Summit County increased 10% from May 2013, and the total dollar volume of sales in May 2014 increased 13% from May 2013.
- In April 2014, the number of real estate transactions in Summit County decreased 13% in comparison to April 2013, and the total dollar volume of sales in April 2014 decreased 7% from April 2013.
- In March 2014, the number of real estate transactions in Summit County increased 1% in comparison to March 2013, and the total dollar volume of sales in March 2014 increased a huge 30% from March 2013.
- In February 2014, the number of real estate transactions in Summit County decreased 10% in comparison to February 2013, and the total dollar volume of sales in February 2014 decreased 1% from February 2013.
- In January 2014, the number of real estate transactions in Summit County decreased 6% in comparison to January 2013, and the total dollar volume of sales in January 2014 decreased 2% from January 2013.
If you’re interested in buying a Summit County home, there are of course plenty 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.
