It’s been a while since I have done stats for all six counties (Ashtabula, Cuyahoga, Geauga, Lake, Lorain and Medina). Here are a few results for home sales during the month of July:
1. The average sale price was down 11.4% from the July results for 2007.
2. The July 2007 average sale price for all six counties was $180,816. The July 2008 average sale price was $160,156.
3. There were 6,400 new listings in the six county area in July of 2007. This July? 5,313.
These results encompass single family, condo and multi-family sales for all the counties.
Peace Out - 3C
Sunday Update: Here is an article from the Chicago Tribune on overal NE Ohio housing prices compared to the rest of the County but most importantly, compared to a few years ago. It includes some comments from recent home buyers.
4 responses so far ↓
1 Six County Stats From Area Brokerage Home Sales for July 2008 // Aug 22, 2008 at 9:13 am
[...] Original post by Carole Cohen [...]
2 Dan Kalleres // Aug 22, 2008 at 9:43 am
Using a lump statistic like that is far too oversimplified to really show anyone what the market is truly like at their local level. I work mostly Geauga county and the numbers are better here than in other areas. Cuyahoga county, in general, for example, tends to pull down surrounding areas because it has pockets with higher numbers foreclosures, homes on the market and lower prices. Readers should be aware that consulting a local expert is the best way to determine what their individual property value should be and how it affected by surrounding properties.
3 Carole Cohen // Aug 22, 2008 at 11:18 am
Hi Dan, thanks for reading! Maybe it is a bit oversimplified but certainly a bit more useful than just reading the Nat’l stats. I’m glad to hear about Geauga doing so well, it’s a pretty area of NE Ohio.
I got the stats from Webster and like any other stat they have to be taken in context. But I still think it’s useful to do twice a year, which I have been doing. Btw, Cuyahoga is not doing that badly, even with the foreclosure issue. I think my readers know I agree with you completely about consulting a local expert. No matter if the stats only deal with one community, there are always streets in any community that do better than others. But again, thanks for stopping by.
4 Recent Faves Tagged With "brokerage" : MyNetFaves // Oct 2, 2008 at 9:50 am
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