Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for July 2020. On a seasonal basis, July falls in the midst of the busiest 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 July 2020 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
• July 2020 – $185,123,589 generated from 231 transactions

In July 2020, the local real estate market started to recover from significant setbacks in immediately prior months resulting from the Covid-19 pandemic lockdown in Colorado. The total dollar volume of sales in July 2020 increased 10% from July 2019. And, the number of real estate transactions in Summit County in July 2020 increased 6% from July 2019.

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

• In June 2020, the number of real estate transactions in Summit County decreased 32% from June 2019, and the total dollar volume of sales in June 2020 decreased 14% from June 2019.
• In May 2020, the number of real estate transactions in Summit County decreased 59% from May 2019, and the total dollar volume of sales in May 2020 decreased 58% from May 2019.
• In April 2020, the number of real estate transactions in Summit County decreased 45% from April 2019, and the total dollar volume of sales in April 2020 decreased 59% from April 2019.
• In March 2020, the number of real estate transactions in Summit County decreased 1% from March 2019, and the total dollar volume of sales in March 2020 decreased 2% from March 2019.
• In February 2020, the number of real estate transactions in Summit County decreased 5% from February 2019, and the total dollar volume of sales in February 2020 increased 3% from February 2019.
• In January 2020, the number of real estate transactions in Summit County decreased 3% from January 2019, and the total dollar volume of sales in January 2020 decreased 13% from January 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.