Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for January 2021. On a seasonal basis, January falls in the midst of the slower season of the year 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 2021 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
• January 2021 – $129,958,844 generated from 160 transactions

In January 2021, the local real estate market continued mounting a fantastic turn-around from setbacks caused by the Covid-19 pandemic lockdown in the spring of 2020. The total dollar volume of sales in January 2021 increased 32% from January 2020. And, the number of real estate transactions in Summit County in January 2021 increased 19% from January 2020.

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

• In December 2020, the number of real estate transactions in Summit County increased 23% from December 2019, and the total dollar volume of sales in December 2020 increased 30% from December 2019.
• In November 2020, the number of real estate transactions in Summit County increased 71% from November 2019, and the total dollar volume of sales in November 2020 increased 111% from November 2019.
• In October 2020, the number of real estate transactions in Summit County leaped 355% from October 2019, and the total dollar volume of sales in October 2020 surged 81% from October 2019.
• In September 2020, the number of real estate transactions in Summit County increased 41% from September 2019, and the total dollar volume of sales in September 2020 increased 23% from September 2019.
• In August 2020, the number of real estate transactions in Summit County increased 41% from August 2019, and the total dollar volume of sales in August 2020 increased 23% from July 2019.
• In July 2020, the number of real estate transactions in Summit County increased 6% from July 2019, and the total dollar volume of sales in July 2020 increased 10% from July 2019.

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.