Summit County Real Estate Market Trends for December 2016
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for December 2016. On a seasonal basis, December falls in the midst of the holiday drop-off in activity that follows the busy season for local real estate. The Summit County real estate market generally 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 December 2016 to the month of December in recent years, the totals were as follows:
- December 2010 – $70,755,100 generated from 154 transactions
- December 2011 – $66,168,700 generated from 147 transactions
- December 2012 – $88,152,000 generated from 188 transactions
- December 2013 – $75,615,706 generated from 138 transactions
- December 2014 – $90,305,80 generated from 186 transactions
- December 2015 – $141,435,873 generated from 276 transactions
- December 2016 – $122,880,919 generated from 203 transactions
Looking at these statistics, the local real estate market in December 2016 decreased in comparison with December 2015. The total dollar volume of sales in December 2016 dropped 13% from the numbers posted in December 2015. And, the number of real estate transactions in Summit County in December 2016 decreased 26% from December 2015.
Overall, from a year-end perspective, real estate sales in Summit County finished up 2016 with 3% increase in monetary volume ($1,408,666,800) in comparison with 2015. The number of transactions for 2016 (2486) was down about 2% from 2015. Generally, 2016 real estate numbers were very close to those in 2015. Especially when you consider other recent years from the past decade, 2016 was another good year for the Summit County real estate market.
To recap Summit County real estate market trends from recent months:
- In November 2016, the number of real estate transactions in Summit County increased 31% from November 2015, and the total dollar volume of sales in November 2016 increased by 68% from November 2015.
- In October 2016, the number of real estate transactions in Summit County decreased 7% from October 2015, and the total dollar volume of sales in October 2016 decreased by 5% from October 2015.
- In September 2016, the number of real estate transactions in Summit County decreased 1% from September 2015, and the total dollar volume of sales in September 2016 increased by 5% from September 2015.
- In August 2016, the number of real estate transactions in Summit County increased 6% from August 2015, and the total dollar volume of sales in August 2016 decreased by 2% from August 2015.
- In July 2016, the number of real estate transactions in Summit County increased 6% from July 2015, and the total dollar volume of sales in July 2016 decreased by 11% from July 2015.
- In June 2016, the number of real estate transactions in Summit County decreased 16% from June 2015, and the total dollar volume of sales in June 2016 decreased by 13% from June 2015.
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.
