Summit County Real Estate Market Trends for October 2013
Land Title Guarantee Company recently released its monthly Summit County real estate market analysis for October 2013. On a seasonal basis, October is historically one of the busiest months of the year. 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 October 2013 to the month of October in recent years, the totals were as follows:
- October 2008 – $118,230,800 generated from 176 transactions
- October 2009 – $92,709,100 generated from 160 transactions
- October 2010 – $79,749,200 generated from 154 transactions
- October 2011 – $67,816,300 generated from 161 transactions
- October 2012 – $104,706,100 generated from 230 transactions
- October 2013 – $110,993,800 generated from 241 transactions
Looking at these statistics, the local real estate market in October 2013 continued to trend upward, as it has in recent years. The number of real estate transactions in Summit County in October 2013 posted a modest increase of 5% over October 2012. The total dollar volume of sales in October 2013 posted a respectable increase of 6% over October 2012. For total dollar volume, October 2013 was the best month of this year so far. For number of transactions, October 2013 was the second best month of the year so far, coming in slightly behind September. It was also the best individual month of October since 2008.
Overall, for the first ten months of 2013, Summit County is ahead by 19% in monetary volume ($739,272,800) and ahead 25% for total transactions (1606) – in comparison to the same period in 2012.
To briefly recap results reported over prior months:
- 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.
