Land Title Guarantee Company recently recently released its monthly Summit County Real Estate Market Trends for May 2018. On a seasonal basis, May falls at the tail end of 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 May 2018 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
• May 2018 – $136,423,916 generated from 196 transactions

Looking at these statistics, the local real estate market in May 2018 remained relatively flat from May 2017. The total dollar volume of sales in May 2018 increased 8% from May 2017. But, the number of real estate transactions in Summit County in May 2018 decreased by one transaction or 1% from May 2017. So far this year, the Summit County market is 4% ahead of monetary volume and 1% ahead in transactions when compared to the first five months of 2017.

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

• In April 2018, the number of real estate transactions in Summit County increased 10% from April 2017, and the total dollar volume of sales in April 2018 surged 30% from April 2017.
• In March 2018, the number of real estate transactions in Summit County decreased 21% from March 2017, and the total dollar volume of sales in March 2018 likewise trended downward 30% from March 2017.
• 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.

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.