Summit County Real Estate Market Trends for December 2017
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for December 2017. On a seasonal basis, December falls within the quiet winter 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 December 2017 to the month of December in recent years, the totals were as follows:
- 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 – $90,305,800 generated from 186 transactions
- December 2015 – $141,435,873 generated from 276 transactions
- December 2016 – $122,880,919 generated from 203 transactions
- December 2017 – $153,007,686 generated from 230 transactions
Looking at these statistics, the local real estate market in December 2017 trended significantly upward from December 2016. The total dollar volume of sales in December 2017 surged 25% from December 2016. And, the number of real estate transactions in Summit County in December 2017 likewise increased 13% from December 2016. For the end of the calendar year 2017, monetary volume was up by 18% compared with 2016, and 2017 transaction numbers were up 5% compared to the entirety of 2016. Land Title noted that 2017 year-end totals for monetary volume surpassed all numbers since they started tracking, and the number of transactions had not reached 2017 totals levels since 2007. In sum, December 2017 represented a great close for the Summit County real estate market, which had a strong showing throughout the year.
To recap Summit County real estate market trends from recent months:
- In November 2017, the number of real estate transactions in Summit County decreased 14% from November 2016, and the total dollar volume of sales in November 2017 decreased 18% from November 2016.
- In October 2017, the number of real estate transactions in Summit County increased 22% from October 2016, and the total dollar volume of sales in October 2017 surged ahead 43% from October 2016.
- In September 2017, the number of real estate transactions in Summit County decreased 16% from September 2016, and the total dollar volume of sales in September 2017 decreased 8% from September 2016.
- In August 2017, the number of real estate transactions in Summit County decreased 4% from August 2016, and the total dollar volume of sales in August 2017 increased 22% from August 2016.
- In July 2017, the number of real estate transactions in Summit County increased 41% from July 2016, and the total dollar volume of sales in July 2017 increased 18% from July 2016.
- In June 2017, the number of real estate transactions in Summit County increased 6% from June 2016, and the total dollar volume of sales in June 2017 increased 20% from June 2016.
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.
