We’re reviewing the last year’s home sales in Northeast, Ohio. We’ve gathered all of the cities and suburbs in the area. The housing market in (Cleveland / Akron) is improving.
Signs are strong that we’re in a full housing recovery. Interest rates are at an all time low, and home sales are increasing. This means that buyers are cashing in on great deals and buying up inventory.
New listings for sale for August 2012 compared to August 2011 are shown in the chart to the left. It also shows the year-to-date 2012 compared to 2011. New listings in the cities of Cleveland/Akron, Ohio areas fell by 4.3%.
So how many homes sold in the Cleveland area over the last year? Sold listings in the Cleveland/Akron areas rose by 16.1% from 2011 to 2012. That’s an increase of 3,805 more homes sold in 2012.
The average market time for each listing gained 3 days. (The time it takes to sell a home while listed on the MLS/Market.) The average market time was 115 days in 2011 and was 118 in August, 2012. This gives you an indication of how long it will take to sell your home on average.
Naturally, some homes take longer to sell and some sell within days depending on many factors. Each home and listing is unique. The total sales volume has increased by 23% from 2011 to 2012. In 2011 the total sales volume was $2,633,703,020 and in 2012 it was, $3,287,634,870.
Average sales prices, for the yearly total period 2011 ($117,520) to 2012 ($123,800), have shown a positive change of $6,280 or 5.3%. The average sales price, the period of August 2012 ($131,536) compared to August 2011 ($126,717) shows a boost of $4,819 or 3.8% regarding average sales price.
This is a great indicator that the Cleveland/Akron, Ohio housing market is on the rise. Home sales are increasing and inventory is being purchased. Now is a really great time to cash in on the low mortgage rates which is another reason for the increase in home buyer activity and homes being sold.
Interestingly, now is a great time to buy a home and sell one! It’s a the best of both markets right now. If you’re considering buying a new home in Northeast, Ohio and would like to discuss your goals and options, please contact our Realtors anytime to go over the process and to find out what you qualify for. If you need to sell your home, we’d love to help you and put it on the market. We specialize in marketing and stand above the rest for market time, visibility and results. Whether you’re buying or selling a home, think YouShouldOwn. RE/MAX is the best company in the world and in Ohio. We’ll show you why!
RE/MAX offices and Realtors service all of Northeast, Ohio. Areas include, Lakewood, Parma, Rocky River, Westlake, Lorain, Bay Village, Euclid, Willoughby, Shaker Heights, Mentor, Hudson, Stow, Berea, North Olmsted, Independence, Seven Hills, Brecksville, Medina, Willowick, Brooklyn, BrookPark, Brunswick, Strongsville, Macedonia, Aurora, Beachwood, Twinsburg, Avon Lake, Pepper Pike, Hinckley, Downtown Cleveland, West Park and beyond. Our real estate professionals assist with home buying, first time buyers, investors, home selling and consultation.