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
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 Estate, Parma 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.
