Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for February 2017. On a seasonal basis, February falls within 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 2017 to the month of February in recent years, the totals were as follows:

• 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
• February 2017 – $71,152,600 generated from 116 transactions

Looking at these statistics, the local real estate market in February 2017 remained somewhat flat in comparison with February 2016. The total dollar volume of sales in February 2017 increased 6% from February 2016. Meanwhile, the number of real estate transactions in Summit County in February 2017 trended downward 8% from February 2016.

To recap Summit County real estate market trends from recent months:

• In January 2017, the number of real estate transactions in Summit County increased 11% from January 2016, and the total dollar volume of sales in January 2017 increased by 45% from January 2016.
• In December 2016, the number of real estate transactions in Summit County dropped 13% from December 2015, and the total dollar volume of sales in December 2016 decreased by 68% from December 2015.
• 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.

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.