Summit County Real Estate Market Trends for September 2021

Image - Summit County Real Estate Market Trends for September 2021Land Title Guarantee Company recently released its monthly Summit County Real Estate Market Trends for September 2021. On a seasonal basis, September falls toward the end of the busiest season of the calendar year for local real estate. Historically, 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 September 2021 to the month of September in recent years, the totals were as follows:

  • September 2011 – $79,799,400 generated from 162 transactions
  • September 2012 – $90,330,100 generated from 164 transactions
  • September 2013 – $111,130,100 generated from 254 transactions
  • September 2014 – $147,078,700 generated from 286 transactions
  • September 2015 – $165,716,318 generated from 301 transactions
  • September 2016 – $174,179,706 generated from 297 transactions
  • September 2017 – $159,591,700 generated from 248 transactions
  • September 2018 – $161,902,700 generated from 259 transactions
  • September 2019 – $183,940,073 generated from 245 transactions
  • September 2020 – $344,080,274 generated from 384 transactions
  • September 2021 – $308,991,831 generated from 276 transactions

By the time September 2020 arrived, the local real estate market had mounted a stunning turnaround from setbacks caused by the Covid-19 pandemic lockdown in the spring of 2020. Accordingly, property values increased in the local real estate market during September 2021, and listing inventory remained scarce. However, the dollar volume and transaction numbers did not continue to experience ever-increasing gains when comparing 2021 to 2020. More specifically, the total dollar volume of sales in September 2021 decreased 10% from September 2020. And, the number of real estate transactions in Summit County in September 2021 actually decreased 28% from the frenzied activity of September 2020.

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

  • In August 2021, the number of real estate transactions in Summit County decreased 29% from August 2020, and the total dollar volume of sales in August 2021 increased 4% from August 2020.
  • In July 2021, the number of real estate transactions in Summit County increased 6% from July 2020, and the total dollar volume of sales in July 2021 increased 32% from July 2020.
  • In June 2021, the number of real estate transactions in Summit County increased 304% from June 2020, and the total dollar volume of sales in June 2021 increased 173% from June 2020.
  • In May 2021, the number of real estate transactions in Summit County increased 304% from May 2020, and the total dollar volume of sales in May 2021 increased 173% from May 2020.
  • In April 2021, the number of real estate transactions in Summit County increased 242% from April 2020, and the total dollar volume of sales in April 2021 increased 151% from April 2020.
  • In March 2021, the number of real estate transactions in Summit County increased 95% from March 2020, and the total dollar volume of sales in March 2021 increased 127% from March 2020.

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. And, I’ve also recently written about the recent short-term rental moratoriums and short-term rental caps adopted in Breckenridge and Summit County.

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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.