Summit County Real Estate Market Trends for July 2013
Land Title Guarantee Company recently released its monthly Summit County real estate market analysis for July 2013. Historically, July is a very busy month. The local real estate market in Summit County tends to see its highest level of activity during the summer months.
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 July 2013 to the month of July in recent years, the totals were as follows:
- July 2009 – $47,401,000 generated from 95 transactions
- July 2010 – $38,565,100 generated from 75 transactions
- July 2011 – $35,555,500 generated from 98 transactions
- July 2012 – $63,074,725 generated from 126 transactions
- July 2013 – $68,971,900 generated from 155 transactions
Looking at these statistics, the number of real estate transactions in Summit County in July 2013 posted an increase of 23% over July 2012. The total dollar volume of sales in July 2013 increased 9% over July 2012. For number of property transactions, July 2013 was the second best month of this year so far. It was also the best month of July since 2008. Overall, for the first 7 months of 2013, Summit County is ahead by 17% in monetary volume ($416,305,600) and ahead 23% for total transactions (905) – in comparison to the same period in 2012.
To briefly recap results reported over prior months, in June 2013, the number of real estate transactions in Summit County in June 2013 spiked 28% over June 2012, and the total dollar volume of sales in June 2013 likewise surged 17% over June 2012. In May 2013, the number of real estate transactions and total dollar volume of sales in Summit County both increased by 18% over May 2012. In April 2013, the number of real estate transactions in Summit County increased by 19% over April 2012, and the total dollar volume of sales in April 2013 surged 22% over April 2012. In March 2013, the number of real estate transactions in Summit County in March 2013 increased by an enormous 46% over March 2012. And, the total dollar volume of sales in March 2013 increased 25% over March 2012. Turning to February 2013, the number of real estate transactions in Summit County in February 2013 increased by 16% over February 2012. However, the total dollar volume of sales in February 2013 decreased slightly by 6% over February 2012. Finally, in January 2013, the total dollar volume of sales in January 2013 surged 33% over January 2012. Meanwhile, the number of real estate transactions in Summit County in January 2013 increased by 13% over January 2012.
If you’re interested in buying a Summit County home, there are of course plenty of great opportunities available. Please don’t hesitate to contact Philip for help.
Summit County Listings with Price Reduction in Last 7 Days
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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.
