History Of Homes Sold in the Cleveland Area

Here is a look at the current Northern Ohio real estate market and how many homes have sold over the last so many years/months. You’ll notice that the trend goes down. The same applies to most areas/cities in the United States and we’re all aware of the amount of foreclosures and short sales on the market right now. So how many homes have sold and are selling? We’ve compiled the complete history of Northeast, Ohio.

Notice the housing market time and season over the last three months. Keep in mind in Cleveland and all over the Northeast, sales typically slow or decline somewhat during the winter months and the holidays. Weather does impact the housing market. If Cleveland is having a particularly bad winter, many home buyers will wait it out until it clears. We’ll keep you posted in the next quarter to compare the home sold statistics.  Spring is a new animal for real estate. Those numbers will be interesting to watch and a bit more realistic. Feel free to email our RE/MAX real estate experts anytime for a report of your specific area, city or street. We’d be happy to tell you “How the market is” or just answer any questions you may have.

Cuyahoga County, Ohio recent home sales from October through December. these are actual closed homes and not pending or contingent properties. These are single-family homes and condos only. Multi-family properties are not included.

• 709 Homes sold in October, 2010
• 663 Homes sold in November, 2010
• 588 Homes sold in December, 2010

Cuyahoga County (Cleveland, Ohio area) real estate market history since 1999. Notice the peaks and lows.

• 12,479 Homes Sold in 1999
• 11,986 Homes Sold in 2000
• 12,070 Homes Sold in 2001
• 12,706 Homes Sold in 2002
• 13,391 Homes Sold in 2003
• 13,900 Homes Sold in 2004
• 14,166 Homes Sold in 2005
• 13,810 Homes Sold in 2006
• 12,793 Homes Sold in 2007
• 12,495 Homes Sold in 2008
• 11,780 Homes Sold in 2009
• 9,816 Homes Sold in 2010

Lorain County, Ohio current real estate market statistics for homes sold/closed from October through December, 2010

• 191 Homes sold in October
• 181 Homes sold in November
• 192 Homes sold in December

Lorain County, Ohio real estate market history since 2000.

• 2,696 homes closed in 2000
• 2,734 homes closed in 2001
• 2,874 homes closed in 2002
• 3,163 homes closed in 2003
• 3,373 homes closed in 2004
• 3,498 homes closed in 2005
• 3,315 homes closed in 2006
• 2,881 homes closed in 2007
• 2,719 homes closed in 2008
• 2,665 homes closed in 2009
• 2,373 homes closed in 2010

Medina County, Ohio real estate statistics – Homes sold from October, 2010 through December, 2011

• 121 homes sold in October
• 114 homes sold in November
• 109 homes sold in December

People always ask, ‘How’s the market?” and there are many answers to that question depending which type of market in the Cleveland area someone is in. If you’re a seller right now, the market is still a little slow in general all across Ohio. Make sure you don’t bunch everyone and every house together equally. Each home, market area, seller and situation is different. We’re seeing homes sell in a week for fair market value and great homes that are reduced greatly, sit on the market for months. It just depends on the specific home and circumstances.

There are still a lot of active, motivated buyers out looking to purchase a home. We know because we work with them everyday. We see what they want, need and are looking for. There are also home buyers wondering what’s happening in the Cleveland, Ohio area at the current moment in order to make a decision about buying a home/condo right now or if they should wait. (Search all homes for sale in the Cleveland, Ohio area.)

Interest rates are still very low and they are expected to climb gradually in the future. Some people predict the “bottom” hasn’t hit yet in the housing market in Northeast, Ohio. We’ve seen a hefty drop in the last three to four years and while it may drop a bit more in the future, interest rates will likely rise. This being said, now is a great time to lock in on a great, low interest rate along with a low priced property. There are many properties to choose from. There are private sales on the market, bank owned deals, HUD homes and short sales.

Connecting with a good real estate agent in the Cleveland area makes a world of difference if buying or selling a home. You have to know all of your options along with the best financing path to take. Many people think Realtors say these things all the time lightly, but it is true that now may in fact be the best time to buy a home at the best price and for the best terms.

The areas of Northeast, Ohio included are cities such as Cleveland, Lakewood, Parma, Berea, Olmsted Falls, North Royalton, Strongsville, Avon Lake, Lorain, Elyria, North Ridgeville, Westlake, Rocky River, Fairview Park, Brooklyn, Sheffield Lake, Medina, Brunswick, Hinckley, Cleveland Heights, Euclid, South Euclid, Bratenahl, Shaker Heights, Broadview Heights, University Heights, Bay Village, West Park area, Tremont, Ohio City, Downtown Cleveland and more. If you would like a specific city or area in Northeast, Ohio, let us know. We’d be happy to tell you how many homes have sold and give you the real estate/housing market statistics. Ohio RE/MAX offices and agents are the area’s best. Let us guide you through the home buying, selling, relocation or investment process.