Here is the market report for single family homes in Cuyahoga Falls, Ohio for the month of March, 2011:
New Listings for the Month - 79
Breakdown by price range as follows:
$25,000 - $75,000 10
$76,000 - $100,000 16
$101,000 - $120,000 18
$121,000 - $150,000 23
$151,000 - $200,000 4
$201,000 - $250,000 2
$251,000 - $300,000 4
$301,000 - $350,000 1
$401,000 and over 1
New Pending Sales for the Month - 35
Breakdown by price range:
$25,000 - $75,000 17
$75,000 - $125,000 11
$125,000 and over 7
New Sales Closed (Transfers) for the Month - 31
Breakdown by price range:
$34,000 - $50,000 6
$51,000 - $75,000 3
$76,000 - $100,000 8
$101,000 - $150,000 6
$151,000 - $200,000 2
$201,000 - $250,000 3
$251,000 - $280,000 3
Currently there are 278 homes on the market for sale in Cuyahoga Falls
Analysis:
The number and spread of price ranges through the new listings of the month indicate that sellers are beginning to list their homes for sale in anticipation of the "Spring market" although a concentration in the lower price ranges is due to new listings of bank owned properties and short sale listings.
The number of new pending sales for the month is quite disappointing, especially given the fact that a majority of these (68%) are sales of either bank owned or short sale properties.
The number of actual transfers for the month, also disappointing, but more evenly spread through the price ranges.
There is no doubt that in Cuyahoga Falls we are still working through selling off a large number of both bank owned properties and short sale properties. These are continuing to adversely affect values.
With the current number of active listings (278) we are still in a Buyer's Market with a nearly 10 month inventory of homes available. For prospective buyers this means a lot of good values in the market and a great time to purchase. Likewise for investors who are purchasing homes to renovate and retain as income producing rentals or to resale. For home sellers these market statistics indicate the need to have your home priced right, in tip top condition and effectively marketed by a real estate professional.
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