Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for October 2018. On a seasonal basis, October falls right at the end of the busiest 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 October 2018 to the month of October in recent years, the totals were as follows:

• October 2011 – $73,125,800 generated from 171 transactions
• October 2012 – $114,295,400 generated from 240 transactions
• October 2013 – $114,722,935 generated from 251 transactions
• October 2014 – $130,161,800 generated from 265 transactions
• October 2015 – $156,891,050 generated from 284 transactions
• October 2016 – $149,691,558 generated from 263 transactions
• October 2017 – $213,311,500 generated from 322 transactions
• October 2018 – $182,673,300 generated from 236 transactions

Looking at these statistics, the local real estate market in October 2018 contracted in comparison to October 2017. The total dollar volume of sales in October 2018 decreased 14% from October 2017. And, the number of real estate transactions in Summit County in October 2018 likewise decreased 27% from October 2017. So far this year, the Summit County market is 7% ahead of monetary volume but 2% behind in transactions when compared to the same period in 2017.

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

• In September 2018, the number of real estate transactions in Summit County increased 4% from September 2017, and the total dollar volume of sales in September 2018 increased 1% from September 2017.
• In August 2018, the number of real estate transactions in Summit County increased 17% from August 2017, and the total dollar volume of sales in August 2018 increased 38% from August 2017.
• In July 2018, the number of real estate transactions in Summit County decreased 17% from July 2017, and the total dollar volume of sales in July 2018 increased 2% from July 2017.
• In June 2018, the number of real estate transactions in Summit County increased 6% from June 2017, and the total dollar volume of sales in June 2018 surged 27% from June 2017.
• In May 2018, the number of real estate transactions in Summit County slightly decreased 1% from May 2017, and the total dollar volume of sales in May 2018 increased 8% from May 2017.
• In April 2018, the number of real estate transactions in Summit County increased 10% from April 2017, and the total dollar volume of sales in April 2018 surged 30% from April 2017.

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.