Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for February 2020. On a seasonal basis, February falls in the midst of the slower 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 2020 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 116 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
• February 2018 – $89,403,682 generated from 139 transactions
• February 2019 – $104,726,584 generated from 138 transactions
• February 2020 – $108,221,070 generated from 134 transactions

Looking at these statistics, the local real estate market in February 2020 experienced mixed results in comparison to February 2019. The total dollar volume of sales in February 2020 increased 3% from February 2019. But, the number of real estate transactions in Summit County in February 2020 decreased 5% from February 2019.

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

• In January 2020, the number of real estate transactions in Summit County decreased 3% from January 2019, and the total dollar volume of sales in January 2020 decreased 13% from January 2019.
• In December 2019, the number of real estate transactions in Summit County increased 29% from December 2018, and the total dollar volume of sales in December 2019 increased 27% from December 2018.
• In November 2019, the number of real estate transactions in Summit County increased 2% from November 2018, and the total dollar volume of sales in November 2019 increased 10% from November 2018.
• In October 2019, the number of real estate transactions in Summit County increased 21% from October 2018, and the total dollar volume of sales in October 2019 increased 9% from October 2018.
• In September 2019, the number of real estate transactions in Summit County decreased 5% from September 2018, and the total dollar volume of sales in September 2019 increased 14% from September 2018.
• In August 2019, the number of real estate transactions in Summit County decreased 18% from August 2018, and the total dollar volume of sales in August 2019 increased 1% from August 2018.

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.