Summit County Real Estate Market Trends for May 2019

July 5, 2019 / Philip D Mervis

Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for May 2019. On a seasonal basis, May falls toward the tail end of the slower 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 2019 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
May 2019 – $158,950,200 generated from 222 transactions

Looking at these statistics, the local real estate market in May 2019 increased significantly in comparison to May 2018. The total dollar volume of sales in May 2019 increased 17% from May 2018. Likewise, the number of real estate transactions in Summit County in May 2019 increased 13% from May 2018. In looking at the first five months of 2019, the statistics for May 2019 are a bit more positive than the four months that preceded it. At the end of May 2019, the Summit County market is 15% ahead of the first five months of 2018 in terms of total dollar volume of real estate sales. However, the total number of transactions thus far are 4% less than the first five months of 2018.

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

In April 2019, the number of real estate transactions in Summit County decreased 20% from April 2018, but the total dollar volume of sales in April 2019 increased 3% from April 2018.
In March 2019, the number of real estate transactions in Summit County decreased 4% from March 2018, but the total dollar volume of sales in March 2019 increased 18% from March 2018.
In February 2019, the number of real estate transactions in Summit County decreased 5% from February 2018, but the total dollar volume of sales in February 2019 increased 17% from February 2018.
In January 2019, the number of real estate transactions in Summit County decreased 5% from January 2018, but the total dollar volume of sales in January 2019 increased 30% from January 2018.
In December 2018, the number of real estate transactions in Summit County decreased 23% from December 2017, and the total dollar volume of sales in December 2018 increased 6% from December 2017.
In November 2018, the number of real estate transactions in Summit County decreased 1% from November 2017, and the total dollar volume of sales in November 2018 increased 1% from November 2017.

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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Property listing data provided by Summit County multiple listing service. All information provided is deemed reliable but is not guaranteed and should be independently verified. The advertisements herein are merely indications to bid and are not offers to sell which may be accepted. All properties are subject to prior sale or withdrawal. The sale offering is made subject to errors, omissions, change of price, prior sale or withdrawal without notice.

Listing Data last updated: 1st December, 2023 03:00 MST

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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.