Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for October 2019. On a seasonal basis, October falls toward the end of the busy summer 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 2019 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
• October 2019 – $199,109,927 generated from 285 transactions

Looking at these statistics, the local real estate market in October 2019 had positive results in comparison to October 2018. The total dollar volume of sales in October 2019 increased 9% from October 2018.  And, the number of real estate transactions in Summit County in October 2019 increased a surprising 21% from October 2018. At the end of October 2019, the Summit County market is 7% ahead of the first ten months of 2019 in terms of total dollar volume of real estate sales.  However, the total number of transactions at this stage are still 6% less than the first ten months of 2018.

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

• In September 2019, the number of real estate transactions in Summit County decreased 5% from September 2018, and the total dollar volume of sales in September 2019 increased 14% from September 2018.
• In August 2019, the number of real estate transactions in Summit County decreased 18% from August 2018, and the total dollar volume of sales in August 2019 increased 1% from August 2018.
• In July 2019, the number of real estate transactions in Summit County increased 3% from July 2018, and the total dollar volume of sales in July 2019 increased 12% from July 2018.
• In June 2019, the number of real estate transactions in Summit County decreased 28% from June 2018, and the total dollar volume of sales in June 2019 decreased 27% from June 2018.
• In May 2019, the number of real estate transactions in Summit County increased 13% from May 2018, and the total dollar volume of sales in May 2019 increased 17% from May 2018.
• In April 2019, the number of real estate transactions in Summit County decreased 20% from April 2018, but the total dollar volume of sales in April 2019 increased 3% from April 2018.
• In March 2019, the number of real estate transactions in Summit County decreased 4% from March 2018, but the total dollar volume of sales in March 2019 increased 18% from March 2018.

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.