Hi, the day got away from me yesterday but here are the statistics for condo sales I promised on Tuesday. Again, these were listed and/or sold with area brokerages in the following counties: Ashtabula, Cuyahoga, Geauga, Lake, Lorain & Medina.
First – a month of December comparable between ’06 and ’07:
2007 – 396 condos were put up for sale
2006 - 467 condos were put up for sale
2007 - 186 condos sold in NE Ohio
2006 -254 condos sold in NE Ohio
2007 – The average sale price for sold condos was $138,592
2006 – The average sale price for sold condos was $156,831
In Dec ’07 these sold condos were on the market an average of 117 days
InDec ’06 these sold condos were on the market an average of 89 days
Sales and Listing Statistics for 2007 (compared with 2006)
2007 - 8,243 condos listed for sale
2006 -7,956 condos listed for sale
2007 - 2,773 condos sold
2006 - 3,278 condos sold
2007 – Average sale price was $146,670
2006 – Average sale price was $147,942
2007 – Average days on market before selling was 106
2006 – Average days on market before selling was 85
Some people found their condos or town homes getting near the end of the tax abatement period. Sad but true, sometimes this is the sole reason they go up for sale.
And remember, we are in NE Ohio, not Denver or Charlotte or Minneapolis; so for NE Ohio the average sale price for a condo in 2007 was $165,402 $147,942
Peace Out – 3C
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