Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for May 2016. On a seasonal basis, May falls right at the end of the seasonally slow 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 May 2016 to the month of May in recent years, the totals were as follows:

• May 2010 – $63,039,000 generated from 94 transactions
• May 2011 – $56,177,600 generated from 107 transactions
• May 2012 – $73,173,000 generated from 145 transactions
• May 2013 – $94,375,050 generated from 165 transactions
• May 2014 – $96,773,950 generated from 181 transactions
• May 2015 – $116,330,500 generated from 205 transactions
• May 2016 – $114,889,906 generated from 197 transactions

Looking at these statistics, the local real estate market in May 2016 was similar to May 2015. The total dollar volume of sales in May 2016 decreased 1% from May 2015. Meanwhile, the number of real estate transactions in Summit County in May 2016 also decreased slightly by 4% from May 2015.

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

• In April 2016, the number of real estate transactions in Summit County increased 1% from April 2015, and the total dollar volume of sales in April 2016 decreased by 4% from April 2015.
• In March 2016, the number of real estate transactions in Summit County decreased 9% from March 2015, and the total dollar volume of sales in March 2016 increased by 4% from March 2015.
• In February 2016, the number of real estate transactions in Summit County jumped ahead by 19% from February 2015, and the total dollar volume of sales in February 2016 likewise increased by a whopping 33% from February 2015.
• In January 2016, the number of real estate transactions in Summit County decreased 2% from January 2015, and the total dollar volume of sales in January 2015 likewise decreased 5% from January 2015.
• In December 2015, the number of real estate transactions in Summit County surged ahead 48% from December 2014, and the total dollar volume of sales in December 2015 increased a whopping 57% from December 2014.
• In November 2015, the number of real estate transactions in Summit County decreased 5% from November 2014, and the total dollar volume of sales in November 2015 increased 5% from November 2014.
• In October 2015, the number of real estate transactions in Summit County increased 7% from October 2014, and the total dollar volume of sales in October 2015 surged ahead 21% from October 2014.
• In September 2015, the number of real estate transactions in Summit County sharply increased 25% from September 2014, and the total dollar volume of sales in September 2015 surged ahead 49% from September 2014.

If you’re interested in buying a Summit County home, there are of course plenty 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.