Our computer system has some of the bugs corrected — this would be our Northern Ohio Multiple Listing Service (NORMLS). The statistics for the year of 2007 have been compiled, and I’m going to throw in December stats as well. You know the drill: these are homes listed with area brokerages. That’s how they wind up on NORMLS.
These stats combine six counties: Ashtabula, Cuyahoga, Geauga, Lake, Lorain and Medina. Let’s do December first (condo sales tomorrow):
2,967 homes listed for sale in December ’07
3,277 listed in December ’06
1,492 homes sold Dec. ’07
1,746 sold Dec. ’06 (more inventory, more sales in 2006)
Average Sale Price Dec. ’07 was $157,411
Average Sale Price Dec. ’06 was $174,252
Average days homes were on the market in ’07 was 88
Average days homes were on the market in ’06 was 93
Total Sales Stats for 2007:
63,814 homes sold
The average sale price was $165,402
These homes were on the market for an average of 89 days
Total Sales Stats for 2006:
61,210 homes sold
The average sale price was $173,152
These homes were on the market an average of 91 days.
One thing I heard at a meeting stuck with me. When you watch the weather channel the temperatures in Phoenix and Hartford and New York City and New Orleans are all different. And at the end of the show, they don’t give you an average National temperature. What purpose would that serve? Think about this when you read articles in the media that say ‘the average home sale price Nationwide was…..’ Who cares, really? Each market in each area of the Country is different. What we do know is, the average sale price in NE Ohio for 2007 was $165,402.
Peace Out – 3C
0 responses so far ↓
1 Elaine Reese // Jan 15, 2008 at 11:06 pm
Oh-h, I like that analogy with the weather!
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