Summit County Real Estate Market Trends for February 2016
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for February 2016. On a seasonal basis, February falls squarely in the middle of the seasonally slow 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 February 2016 to the month of February in recent years, the totals were as follows:
- February 2010 – $36,036,515 generated from 66 transactions
- February 2011 – $38,516,800 generated from 90 transactions
- February 2012 – $43,683,600 generated from 81 transactions
- February 2013 – $45,837,653 generated from 97 transactions
- February 2014 – $44,671,060 generated from 91 transactions
- February 2015 – $50,326,500 generated from 106 transactions
- February 2016 – $66,997,100 generated from 126 transactions
Looking at these statistics, the local real estate market in February 2016 surged ahead in comparison to February 2015. The total dollar volume of sales in February 2016 increased a whopping 33% from February 2015. Meanwhile, the number of real estate transactions in Summit County in February 2016 likewise jumped ahead by 19% from February 2015. As a result, the second month of 2016 showed a terrific increase over Summit County real estate market numbers established in February 2015.
To recap Summit County real estate market trends from recent months:
- In January 2016, the number of real estate transactions in Summit County decreased 2% from January 2015, and the total dollar volume of sales in January 2016 likewise decreased 5% from January 2015.
- In December 2015, the number of real estate transactions in Summit County surged ahead 48% from December 2014, and the total dollar volume of sales in December 2015 increased a whopping 57% from December 2014.
- In November 2015, the number of real estate transactions in Summit County decreased 5% from November 2014, and the total dollar volume of sales in November 2015 increased 5% from November 2014.
- In October 2015, the number of real estate transactions in Summit County increased 7% from October 2014, and the total dollar volume of sales in October 2015 surged ahead 21% from October 2014.
- In September 2015, the number of real estate transactions in Summit County sharply increased 25% from September 2014, and the total dollar volume of sales in September 2015 surged ahead 49% from September 2014.
- In August 2015, the number of real estate transactions in Summit County sharply increased 25% from August 2014, and the total dollar volume of sales in August 2015 surged ahead 49% from August 2014.
- In July 2015, the number of real estate transactions in Summit County remained flat in comparison to July 2014, and the total dollar volume of sales in July 2015 increased 23% from July 2014.
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.
