Cleveland, Ohio Real Estate Market Trends/Statistics 2012/2013

Home sales in Northeast, Ohio have increased since last year. Like most of the county, the Cleveland area has seen a housing recovery and has stabilized. This is good news for home owners and also home buyers. While homes are selling faster and for more money, home buyers are also able to cash in on very low interest rates. Locking a low interest rate in for a 30-year-term saves thousands of dollars over the life of a loan. Some home sellers are also able to refinance in today’s market which allows them to make necessary upgrades and repairs to their home which will also help increase property values over the years.

It’s a great time to buy or sell a home in Northeast, Ohio. There are still many home buyers in the fall and winter months. Many people relocate and there is always demand for new listings.

In some cities across Northeast, Ohio housing inventory is low. Homes are needed as buyers are waiting for new properties for come on the market for sale. Some buyers are watching daily! It’s important to price your home correctly and make sure it’s in great shape for quick showings.

Be prepared to possibly have many appointments scheduled in the first week your home is for sale. Your home should be in top notch, clean condition.

Working with the right agent in this Cleveland housing market is crucial. You want to make sure your agent is experienced and very knowledgeable about the market and how to market, stage and sell a home properly. Feel free to contact me anytime to discuss home buying or selling a home. You can find your home’s value or search the Ohio MLS using the links to the right.

Below shows the homes sold in Cuyahoga County, Ohio this year compared to last. There are still many bank owned homes for sale and deals to be had. The numbers below include all homes bank owned and privately.

Single Family Residence

Time Period Number of Sales Median Sale Price
Jul 2013 1,221 $125,000
Jul 2012 878 $130,000
Jun 2013 1,267 $127,000
Jun 2012 1,103 $130,000
2013 YTD 8,215 $117,500
2012 9,223 $116,400
Time Period Number of Sales Median Sale Price
Jul 2013 167 $60,000
Jul 2012 100 $101,500
Jun 2013 156 $71,500
Jun 2012 102 $107,500
2013 YTD 1,208 $69,050
2012 1,158 $80,000

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