Summit County Real Estate Market Trends for May 2017
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for May 2017. On a seasonal basis, May falls right at the end of the 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 2017 to the month of May in recent years, the totals were as follows:
- 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
- May 2017 – $126,580,300 generated from 197 transactions
Looking at these statistics, the local real estate market in May 2017 trended upward from May 2016. The total dollar volume of sales in May 2017 increased 10% from May 2016. Otherwise, the number of real estate transactions in Summit County in May 2017 remained identical to May 2016. In sum, the Summit County real estate market continues to move in a positive direction.
To recap Summit County real estate market trends from recent months:
- In April 2017, the number of real estate transactions in Summit County increased 22% from April 2016, and the total dollar volume of sales in April 2017 surged ahead 28% from April 2016.
- In March 2017, the number of real estate transactions in Summit County surged 31% from March 2016, and the total dollar volume of sales in March 2017 increased by a whopping 43% from March 2016.
- In February 2017, the number of real estate transactions in Summit County decreased 8% from February 2016, and the total dollar volume of sales in February 2017 increased by 6% from February 2016.
- In January 2017, the number of real estate transactions in Summit County increased 11% from January 2016, and the total dollar volume of sales in January 2017 increased by 45% from January 2016.
- In December 2016, the number of real estate transactions in Summit County dropped 13% from December 2015, and the total dollar volume of sales in December 2016 decreased by 68% from December 2015.
- In November 2016, the number of real estate transactions in Summit County increased 31% from November 2015, and the total dollar volume of sales in November 2016 increased by 68% from November 2015.
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.
