Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for July 2019. On a seasonal basis, July falls in the midst of the busy summer 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 July 2019 to the month of July in recent years, the totals were as follows:

• July 2011 – $35,555,500 generated from 98 transactions
• July 2012 – $65,197,855 generated from 131 transactions
• July 2013 – $80,849,879 generated from 163 transactions
• July 2014 – $95,597,625 generated from 201 transactions
• July 2015 – $117,921,469 generated from 202 transactions
• July 2016 – $104,621,918 generated from 215 transactions
• July 2017 – $147,927,102 generated from 253 transactions
• July 2018 – $151,066,431 generated from 211 transactions
• July 2019 – $168,936,483 generated from 218 transactions

Looking at these statistics, the local real estate market in July 2019 increased ever so slightly in comparison to July 2018. The total dollar volume of sales in July 2019 jumped 12% from July 2018. Likewise, the number of real estate transactions in Summit County in July 2019 increased 3% from July 2018. At the end of July 2019, the Summit County market is 6% ahead of the first seven months of 2019 in terms of total dollar volume of real estate sales.  However, the total number of transactions thus far are 8% less than the first seven months of 2018.

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

• 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.
• In May 2019, the number of real estate transactions in Summit County increased 13% from May 2018, and the total dollar volume of sales in May 2019 increased 17% from May 2018.
• In April 2019, the number of real estate transactions in Summit County decreased 20% from April 2018, but the total dollar volume of sales in April 2019 increased 3% from April 2018.
• In March 2019, the number of real estate transactions in Summit County decreased 4% from March 2018, but the total dollar volume of sales in March 2019 increased 18% from March 2018.
• In February 2019, the number of real estate transactions in Summit County decreased 5% from February 2018, but the total dollar volume of sales in February 2019 increased 17% from February 2018.
• In January 2019, the number of real estate transactions in Summit County decreased 5% from January 2018, but the total dollar volume of sales in January 2019 increased 30% from January 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.