Summit County Real Estate Market Trends for March 2018
Land Title Guarantee Company recently recently released its monthly Summit County Real Estate Market Trends for March 2018. On a seasonal basis, March falls within the quiet winter 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 March 2018 to the month of March in recent years, the totals were as follows:
- March 2011 – $45,046,200 generated from 103 transactions
- March 2012 – $38,893,960 generated from 86 transactions
- March 2013 – $55,149,780 generated from 128 transactions
- March 2014 – $67,244,100 generated from 125 transactions
- March 2015 – $83,058,500 generated from 149 transactions
- March 2016 – $86,347,800 generated from 136 transactions
- March 2017 – $123,142,000 generated from 178 transactions
- March 2018 – $86,558,600 generated from 140 transactions
Looking at these statistics, the local real estate market in March 2018 took a bit of a step back from March 2017. The total dollar volume of sales in March 2018 decreased 30% from March 2017. Likewise, the number of real estate transactions in Summit County in March 2018 trended downward 21% from March 2017. The March 2018 numbers represent a slight retrenchment from the strong numbers posted in February 2018. When the data becomes available, it will be interesting to see whether April 2018 numbers remain flat, look like those in February, or look like those in March.
To recap Summit County real estate market trends from recent months:
- In February 2018, the number of real estate transactions in Summit County surged 20% from February 2017, and the total dollar volume of sales in February 2018 likewise swelled 26% from February 2017.
- In January 2018, the number of real estate transactions in Summit County increased 6% from January 2017, and the total dollar volume of sales in January 2018 decreased 5% from January 2017.
- In December 2017, the number of real estate transactions in Summit County increased 13% from December 2016, and the total dollar volume of sales in December 2017 surged 25% from December 2016.
- In November 2017, the number of real estate transactions in Summit County decreased 14% from November 2016, and the total dollar volume of sales in November 2017 decreased 18% from November 2016.
- In October 2017, the number of real estate transactions in Summit County increased 22% from October 2016, and the total dollar volume of sales in October 2017 surged ahead 43% from October 2016.
- In September 2017, the number of real estate transactions in Summit County decreased 16% from September 2016, and the total dollar volume of sales in September 2017 decreased 8% from September 2016.
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.
