Our real estate market has been through some changes – highs and lows – in the past couple of years, and the media often has one version of the story and when you speak to your neighbors, friends and family they have their version of the market. As a full time real estate professional I pride myself in keeping track of the real statistics, I want to be able to give you an honest and forthright answer when you ask me “how’s the market?”
Today I want to focus on the single family residence part of the market – these are detached homes in the Cleveland area – Cuyahoga, Geauga, Lake, Lorain, Medina & Summit counties.
- The Year-to-Date March, 2012 sales were 21.3 higher than in the same period of 2011
- 2012 sales were 9.9% higher than 2010
- Monthly sales were stronger than last year in each month so far this year
- The Federal Home Buyer Incentive program in the first 2 quarters of 2010 contributed to the increase in sales, which makes comparing to those months more significant
- This chart shows that the incentive program was not relative when viewed in the “big – long term” picture
One last stat for today – the average sold price in Avon Lake for January was $104,000 in April it was $129,000. (see included chart for full details) This tells us that home prices are creeping up, however the real difference is in the average days on market for homes. In my next article we will discuss other changes in our market which are very encouraging.
Leading The Way Home,
Carol Murphy Team
KW Great Cleveland West