Barb Szabo's Blog

REAL ESTATE MARKET STATISTICS FOR THE SOUTHERN SUBURBS OF CLEVELAND

Greetings,

Below you will find some statistics for the southern suburbs of Cleveland, Ohio.  It is a comparison between 2007 and 2008, excluding December 2008. All information was obtained from NORMLS and is deemed reliable but not guaranteed.

CLOSED TRANSACTIONS FOR 2007              
                 
AREAS: # OF SALES AVG. SQ. FT. AVG. # BEDS AVG. # BATHS AVG. LIST PRICE AVG. SOLD PRICE SP AVG. SQ. FT. DAYS ON MARKET
BROADVIEW HEIGHTS 263 2287 3 2 $254,856 $242,363 $106.59 92
BRECKSVILLE 171 2591 3 2 $295,897 $278,510 $107 77
NORTH ROYALTON 253 1936 3 1 $190,904 $181,526 $94.78 78
SEVEN HILLS 109 1885 3 2 $194,573 $185,734 $102 82
INDEPENDENCE 45 2285 3 2 $289,033 $272,299 $125 78
GARFIELD HEIGHTS 352 1358 3 1 $86,561 $82,613 $59.96 91
PARMA 768 1360 3 1 $123,629 $118,653 $89.17 74
PARMA HEIGHTS 218 1382 3 1 $124,417 $119,688 $91 82
MIDDLEBURG HEIGHTS 151 1586 3 2 $160,941 $154,835 $98 77
                 
                 
CLOSED TRANSACTIONS YTD 11/30              
                 
AREAS: # OF SALES AVG. SQ. FT. AVG. # BEDS AVG. # BATHS AVG. LIST PRICE AVG. SOLD PRICE SP AVG. SQ. FT. DAYS ON MARKET
BROADVIEW HEIGHTS 180 2335 3 2 $245,621 $231,257 $100 109
BRECKSVILLE 105 2659 3 2 $289,639 $268,580 $99 100
NORTH ROYALTON 224 1934 3 2 $184,896 $172,758 $85 99
SEVEN HILLS 99 1767 3 2 $180,105 $169,895 $98 97
INDEPENDENCE 42 2452 3 2 $304,156 $281,664 $114 107
GARFIELD HEIGHTS 289 1288 3 1 $59,217 $54,168 $40.66 97
PARMA 745 1339 3 1 $109,994 $104,438 $79 84
PARMA HEIGHTS 163 1351 3 1 $109,783 $103,528 $78 78
MIDDLEBURG HEIGHTS 135 1608 3 2 $146,889 $139,588 $86 82

As evidenced above there was a decline in the AVERAGE selling price for each community except Independence. Following are the AVERAGE percentages of decline.

Broadview Heights   

-4.58%

Brecksville              

-3.56%

N. Royalton             

-4.68%

Seven Hills              

-8.52%

Independence         

+3.31%

Garfield Heights       

-34.43%

Parma                    

-11.98%

Parma Heights         

-13.50%

Middleburg              

-9.84%

There was also a decline in the AVERAGE list price, which clearly follows declining selling prices.

Broadview Heights    

-3.62%

Brecksville               

-2.11%

N. Royalton              

-3.14%

Seven Hills               

-7.43%

Independence          

+4.97%

Garfield Heights        

-31.58%

Parma                     

-11.02%

Parma Heights          

-11.76%

Middleburg Heights    

-8.73%

The AVERAGE days on the market has increased, which is expected with a decline in the market.

THE GOOD NEW IS THAT THERE IS A POSSIBILITY THAT MORTGAGE RATES MAY DROP TO 4.5 % AND THAT MEANS GOOD NEWS FOR MANY BUYERS AND SELLERS.

I hope you have found this information useful.  Feel free to call me with questions or if you would like statitics for the city in which you live.

Regards,

Barb

INFORMATION SUPPLIED BY NORMLS AND IS DEEMED RELIABLE BUT NOT GUARANTEED

BARB SZABO

Visit Barb's Facebook Fan Page - Become a Fan! View Barb's Profile on Linkedin! Follow Barb on Twitter Barb Szabo E-pro Realtor Cleveland Ohio Homes (RE/MAX Trinity): Real Estate Agent in Cleveland, OH

If you would like to buy or sell a home in the southern communities of Cleveland Ohio, please call me at 440-263-7496, or you may want to visit my website for more specific information on the communities I service: Brecksville Ohio Real Estate, Broadview Heights Ohio Real Estate, North Royalton Ohio Real Estate Independence Ohio Real Estate, Seven Hills Ohio Real Estate, Parma Ohio Real EstateParma Heights Ohio Real Estate and Middleburg Heights Ohio Real Estate.  Information is obtained from Neohrex (Northeast Ohio Real Estate Exchange) and is deemed reliable but not guaranteed and should be independently verified. Properties subject to prior sale, rental, or other status changes. All properties that are advertised as being listed or sold by Barb Szabo are in conjuntion with ReMax Trinity.

Comment balloon 0 commentsBarb Szabo, CRS • December 06 2008 09:49AM
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