Summit County Real Estate Market Trends for November 2013
Land Title Guarantee Company recently released its monthly Summit County real estate market analysis for November 2013. On a seasonal basis, November is generally a month where real estate transactions begin to wind down as the holidays and the snow season approach. The local real estate market in Summit County tends to see 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 November 2013 to the month of November in recent years, the totals were as follows:
- November 2008 – $58,002,400 generated from 105 transactions
- November 2009 – $64,690,000 generated from 135 transactions
- November 2010 – $60,172,900 generated from 141 transactions
- November 2011 – $58,524,100 generated from 142 transactions
- November 2012 – $66,866,100 generated from 154 transactions
- November – $80,099,800 generated from 170 transactions
Looking at these statistics, the local real estate market in November 2013 continued the upward swing it has experienced in recent years. The number of real estate transactions in Summit County in November 2013 posted a sizable increase of 10% over November 2012. The total dollar volume of sales in November 2013 increased a substantial 20% over November 2012. For total dollar volume and number of transactions, November 2013 was the best individual month of November since 2007.
Overall, for the first eleven months of 2013, Summit County is ahead by 19% in monetary volume ($819,172,600) and ahead 23% for total transactions (1776) – in comparison to the same period in 2012.
To briefly recap results reported over prior months:
- In October 2013, the number of real estate transactions in Summit County posted a modest increase of 5% over October 2012, and the total dollar volume of sales in October 2013 increased a respectable 6% over October 2012.
- In September 2013, the number of real estate transactions in Summit County posted a whopping increase of 54% over September 2012, and the total dollar volume of sales in September 2013 increased a significant 21% over September 2012.
- In August 2013, the number of real estate transactions in Summit County posted a huge increase of 36% over August 2012, and the total dollar volume of sales in August 2013 increased an amazing 53% over August 2012.
- In July 2013, the number of real estate transactions in Summit County increased 23% over July 2012, and the total dollar volume of sales in July 2013 likewise increased 9% over July 2012.
- In June 2013, the number of real estate transactions in Summit County spiked 28% over June 2012, and the total dollar volume of sales in June 2013 likewise surged 17% over June 2012.
- In May 2013, the number of real estate transactions and total dollar volume of sales in Summit County both increased by 18% over May 2012.
- In April 2013, the number of real estate transactions in Summit County increased by 19% over April 2012, and the total dollar volume of sales in April 2013 surged 22% over April 2012.
- In March 2013, the number of real estate transactions in Summit County in March 2013 increased by an enormous 46% over March 2012. And, the total dollar volume of sales in March 2013 increased 25% over March 2012.
- Turning to February 2013, the number of real estate transactions in Summit County in February 2013 increased by 16% over February 2012. However, the total dollar volume of sales in February 2013 decreased slightly by 6% over February 2012.
- Finally, in January 2013, the total dollar volume of sales in January 2013 surged 33% over January 2012. Meanwhile, the number of real estate transactions in Summit County in January 2013 increased by 13% over January 2012.
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.
