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

• January 2011 – $44,042,400 generated from 90 transactions
• January 2012 – $42,663,800 generated from 102 transactions
• January 2013 – $62,235,670 generated from 116 transactions
• January 2014 – $53,073,051 generated from 107 transactions
• January 2015 – $66,536,300 generated from 127 transactions
• January 2016 – $63,231,650 generated from 124 transactions
• January 2017 – $91,901,074 generated from 138 transactions

Looking at these statistics, the local real estate market in January 2017 trended upward in comparison with January 2016. The total dollar volume of sales in January 2017 increased a significant 45% from January 2016. Meanwhile, the number of real estate transactions in Summit County in January 2017 likewise rose by 11% from January 2016. As a result, the Summit County real estate market begins 2017 with numbers that take a leap forward above those from January 2016.

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

• 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 October 2015, and the total dollar volume of sales in October 2016 increased by 68% from October 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.

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.