Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for October 2020. On a seasonal basis, October 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 October 2020 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
• October 2020 – $ 360,036,310 generated from 442 transactions

In October 2020, the local real estate market continued showing an astronomical turn-around from earlier setbacks caused by the Covid-19 pandemic lockdown in Colorado. The total dollar volume of sales in October 2020 increased a whopping 81% from October 2019. And, the number of real estate transactions in Summit County in October 2020 increased an equally amazing 55% from October 2019.

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

• 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.
• In April 2020, the number of real estate transactions in Summit County decreased 45% from April 2019, and the total dollar volume of sales in April 2020 decreased 59% from April 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.