Summit County Real Estate Market Trends for March 2021

Image - Summit County Real Estate Market Trends for March 2021Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for March 2021. On a seasonal basis, March falls in the midst of the slower 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 March 2021 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
  • March 2019 – $101,948,344 generated from 135 transactions
  • March 2020 – $99,852,065 generated from 134 transactions
  • March 2021 – $226,309,300 generated from 260 transactions

In March 2021, the local real estate market continued mounting a fantastic turn-around from setbacks caused by the Covid-19 pandemic lockdown in the spring of 2020. The total dollar volume of sales in March 2021 surged an incredible 127% from March 2020. And, the number of real estate transactions in Summit County in March 2021 likewise leaped ahead 95% from March 2020. Of course, it is important to remember that March 2020 marked the beginning of the pandemic lockdown in Summit County. By mid-March, all local resorts were closed with short-term rentals vacated and transportation services suspended. Accordingly, with almost no visitation or other activity permitted locally in portions of March 2020, it is unsurprising to see that the local real estate market in March 2021 fared so much better.

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

  • 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.
  • In December 2020, the number of real estate transactions in Summit County increased 23% from December 2019, and the total dollar volume of sales in December 2020 increased 30% from December 2019.
  • In November 2020, the number of real estate transactions in Summit County increased 71% from November 2019, and the total dollar volume of sales in November 2020 increased 111% from November 2019.
  • In October 2020, the number of real estate transactions in Summit County leaped 355% from October 2019, and the total dollar volume of sales in October 2020 surged 81% from October 2019.
  • In September 2020, the number of real estate transactions in Summit County increased 41% from September 2019, and the total dollar volume of sales in September 2020 increased 23% from September 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.