Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for July 2021. On a seasonal basis, July falls at the start of the busiest season of the calendar year for local real estate. Historically, 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 2021 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
• July 2021 – $243,969,600 generated from 246 transactions

By the time July 2020 arrived, the local real estate market had started mounting a terrific reversal from setbacks caused by the Covid-19 pandemic lockdown in the spring of 2020. Accordingly, while the local real estate market showed increases in July 2021, they were understandably not the triple-digit gains experienced in recent months when comparing 2021 to 2020. The total dollar volume of sales in July 2021 surged a significant 32% from July 2020. And, the number of real estate transactions in Summit County in July 2021 also increased 6% from July 2020.

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

• In June 2021, the number of real estate transactions in Summit County increased 304% from June 2020, and the total dollar volume of sales in June 2021 increased 173% from June 2020.
• In May 2021, the number of real estate transactions in Summit County increased 304% from May 2020, and the total dollar volume of sales in May 2021 increased 173% from May 2020.
• In April 2021, the number of real estate transactions in Summit County increased 242% from April 2020, and the total dollar volume of sales in April 2021 increased 151% from April 2020.
• In March 2021, the number of real estate transactions in Summit County increased 95% from March 2020, and the total dollar volume of sales in March 2021 increased 127% from March 2020.
• In February 2021, the number of real estate transactions in Summit County increased 20% from February 2020, and the total dollar volume of sales in February 2021 increased 23% from February 2020.
• In January 2021, the number of real estate transactions in Summit County increased 19% from January 2020, and the total dollar volume of sales in January 2021 surged 32% from January 2020.

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.