Summit County Real Estate Market Trends for September 2023


Image - Summit County Real Estate Market Trends for September 2023

Land Title Guarantee Company (“LTGC”) recently released its monthly Summit County Real Estate Market Trends for September 2023. On a seasonal basis, September falls in the midst 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. With all that said, we have seen occasional anomalies in recent years where Summit County real estate activity did not follow the historical seasonal trend.

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 2023 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
  • September 2022 – $204,519,395 generated from 179 transactions
  • September 2023 – $261,979,466 generated from 176 transactions

Looking at the preceding numbers, the total dollar volume of sales in September 2023 increased by approximately 28% from September 2022. Additionally, the number of real estate transactions in Summit County in September 2023 decreased by approximately 1.7% from September 2022.

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

  • In August 2023, the number of real estate transactions in Summit County decreased by approximately 7.7% from August 2022, and the total dollar volume of sales in August 2023 decreased by approximately 2.2% from August 2022.
  • In July 2023, the number of real estate transactions in Summit County increased by approximately 10.6% from July 2022, and the total dollar volume of sales in July 2023 decreased by approximately 14% from July 2022.
  • In June 2023, the number of real estate transactions in Summit County decreased by approximately 20.5% from June 2022, and the total dollar volume of sales in June 2023 decreased by approximately 24.6% from June 2022.
  • In May 2023, the number of real estate transactions in Summit County decreased by approximately 13.5% from May 2022, and the total dollar volume of sales in May 2023 decreased by approximately 36.1% from May 2022.
  • In April 2023, the number of real estate transactions in Summit County decreased by approximately 30.1% from April 2022, and the total dollar volume of sales in April 2023 decreased by approximately 38.8% from April 2022.
  • In March 2023, the number of real estate transactions in Summit County decreased by approximately 26.1% from March 2022, and the total dollar volume of sales in March 2023 decreased by approximately 31.7% from March 2022.

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 Summit County short-term rental rule changes.

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.