Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for November 2017. On a seasonal basis, November marks the beginning 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 November 2017 to the month of November in recent years, the totals were as follows:

• November 2011 – $61,748,100 generated from 152 transactions
• November 2012 – $74,734,600 generated from 158 transactions
• November 2013 – $89,196,800 generated from 197 transactions
• November 2014 – $104,587,700 generated from 216 transactions
• November 2015 – $109,915,500 generated from 205 transactions
• November 2016 – $184,563,658 generated from 268 transactions
• November 2017 – $151,871,354 generated from 230 transactions

Looking at these statistics, the local real estate market in November 2017 trended downward from November 2016. The total dollar volume of sales in November 2017 decreased 18% from November 2016. And, the number of real estate transactions in Summit County in November 2017 also decreased 14% from November 2016. While November 2017 showed a bit of a falloff from last year, the Summit County real estate market has nonetheless moved in a positive direction throughout the entirety of 2017 thus far. Year-to-date 2017, total monetary volume is up by 17% and total transactions are up by 4%, in comparison to YTD 2016.

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

• In October 2017, the number of real estate transactions in Summit County increased 22% from October 2016, and the total dollar volume of sales in October 2017 surged ahead 43% from October 2016.
• In September 2017, the number of real estate transactions in Summit County decreased 16% from September 2016, and the total dollar volume of sales in September 2017 decreased 8% from September 2016.
• In August 2017, the number of real estate transactions in Summit County decreased 4% from August 2016, and the total dollar volume of sales in August 2017 increased 22% from August 2016.
• In July 2017, the number of real estate transactions in Summit County increased 41% from July 2016, and the total dollar volume of sales in July 2017 increased 18% from July 2016.
• In June 2017, the number of real estate transactions in Summit County increased 6% from June 2016, and the total dollar volume of sales in June 2017 increased 20% from June 2016.
• In May 2017, the number of real estate transactions in Summit County increased 10% from May 2016, and the total dollar volume of sales in May 2017 remained flat from May 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.