Summit County Real Estate Market Trends for May 2020
Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for May 2020. On a seasonal basis, May falls in the midst of the slower 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 2020 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
- May 2020 – $66,469,300 generated from 92 transactions
In May 2020, the local real estate market continued to experience significant setbacks as a result of the effects of the Covid-19 pandemic lockdown in Colorado. The total dollar volume of sales in May 2020 decreased 58% from May 2019. And, the number of real estate transactions in Summit County in May 2020 decreased 59% from May 2019.
To recap Summit County real estate market trends from recent months:
- In April 2020, the number of real estate transactions in Summit County decreased 45% from April 2019, and the total dollar volume of sales in April 2020 decreased 59% from April 2019.
- In March 2020, the number of real estate transactions in Summit County decreased 1% from March 2019, and the total dollar volume of sales in March 2020 decreased 2% from March 2019.
- In February 2020, the number of real estate transactions in Summit County decreased 5% from February 2019, and the total dollar volume of sales in February 2020 increased 3% from February 2019.
- In January 2020, the number of real estate transactions in Summit County decreased 3% from January 2019, and the total dollar volume of sales in January 2020 decreased 13% from January 2019.
- In December 2019, the number of real estate transactions in Summit County increased 29% from December 2018, and the total dollar volume of sales in December 2019 increased 27% from December 2018.
- In November 2019, the number of real estate transactions in Summit County increased 2% from November 2018, and the total dollar volume of sales in November 2019 increased 10% from November 2018.
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.
