Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for November 2020. On a seasonal basis, November falls at the end of the busiest season of the year 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 2020 to the month of November in recent years, the totals were as follows:

• November 2011 – $761,748,100 generated from 152 transactions
• November 2012 – $74,734,600 generated from 215 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
• November 2018 – $153,815,804 generated from 227 transactions
• November 2019 – $168,612,665 generated from 231 transactions
• November 2020 – $355,464,800 generated from 394 transactions

In November 2020, the local real estate market continued mounting a fantastic turn-around from earlier setbacks caused by the Covid-19 pandemic lockdown in Colorado. The total dollar volume of sales in November 2020 increased an astounding 111% from November 2019. And, the number of real estate transactions in Summit County in November 2020 increased an equally amazing 71% from November 2019.

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

• In October 2020, the number of real estate transactions in Summit County leaped 355% from October 2019, and the total dollar volume of sales in October 2020 surged 81% from October 2019.
• In September 2020, the number of real estate transactions in Summit County increased 41% from September 2019, and the total dollar volume of sales in September 2020 increased 23% from September 2019.
• In August 2020, the number of real estate transactions in Summit County increased 41% from August 2019, and the total dollar volume of sales in August 2020 increased 23% from July 2019.
• In July 2020, the number of real estate transactions in Summit County increased 6% from July 2019, and the total dollar volume of sales in July 2020 increased 10% from July 2019.
• In June 2020, the number of real estate transactions in Summit County decreased 32% from June 2019, and the total dollar volume of sales in June 2020 decreased 14% from June 2019.
• In May 2020, the number of real estate transactions in Summit County decreased 59% from May 2019, and the total dollar volume of sales in May 2020 decreased 58% from May 2019.

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.