Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for January 2020. On a seasonal basis, January 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 January 2020 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
• January 2018 – $87,565,946 generated from 146 transactions
• January 2019 – $113,690,300 generated from 138 transactions
• January 2020 – $98,820,800 generated from 134 transactions

Looking at these statistics, the local real estate market in January 2020 experienced a slight downturn in comparison to January 2019. The total dollar volume of sales in January 2020 decreased 13% from January 2019. And, the number of real estate transactions in Summit County in January 2020 similarly decreased 3% from January 2019.

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

• 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.
• In July 2019, the number of real estate transactions in Summit County increased 3% from July 2018, and the total dollar volume of sales in July 2019 increased 12% from July 2018.
• In June 2019, the number of real estate transactions in Summit County decreased 28% from June 2018, and the total dollar volume of sales in June 2019 decreased 27% from June 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.