I like to keep a close eye on our Market Condition, as it affects us all. Here is a snapshot of the market statistics for the 6-month time frame of 3/16/08 - 9/16/08 for Medina County, Cuyahoga County, Lorain County and Summit County. Please note that these numbers are averages of all listed properties transacted between the given sale prices for that period of time. This should be a good indicator of sale price per square foot and the ratio between list price to sale price.
Unfortunately though, non-distressed home sales are lumped in with bank owned properties and foreclosures, which hurt the overall condition of the market. Because of that, you will see lower than desired statistics, as those distressed properties sell for much less - typically because they've been neglected in various ways.
| Sale Price $0 - $100,000 | ||||||||
| County | Units Sold | Sq.Ft. | LP | LP/Sq.Ft. | SP | SP/Sq.Ft. | SP/LP | DOM |
| CUY | 3433 | 1,286 | $44,871 | $34.89 | $39,380 | $30.62 | 87.8% | 86 |
| LOR | 656 | 1,261 | $56,163 | $44.54 | $49,285 | $39.08 | 87.8% | 77 |
| MED | 91 | 1,289 | $74,396 | $57.72 | $69,330 | $53.79 | 93.2% | 90 |
| SUM | 154 | 1,253 | $73,077 | $58.32 | $66,620 | $53.17 | 91.2% | 103 |
| Sale Price $100,000 - $200,000 | ||||||||
| County | Units Sold | Sq.Ft. | LP | LP/Sq.Ft. | SP | SP/Sq.Ft. | SP/LP | DOM |
| CUY | 2288 | 1,619 | $148,323 | $91.61 | $141,433 | $87.36 | 95.4% | 94 |
| LOR | 516 | 1,665 | $146,689 | $88.10 | $140,542 | $84.41 | 95.8% | 88 |
| MED | 409 | 1,734 | $159,839 | $92.18 | $153,769 | $88.68 | 96.2% | 98 |
| SUM | 392 | 1,525 | $155,007 | $101.64 | $148,411 | $97.32 | 95.7% | 90 |
| Sale Price $200,000 - $300,000 | ||||||||
| County | Units Sold | Sq.Ft. | LP | LP/Sq.Ft. | SP | SP/Sq.Ft. | SP/LP | DOM |
| CUY | 673 | 2,409 | $253,908 | $105.40 | $240,622 | $99.88 | 94.8% | 96 |
| LOR | 222 | 2,417 | $259,000 | $107.16 | $244,892 | $101.32 | 94.6% | 104 |
| MED | 193 | 2,534 | $245,229 | $96.78 | $236,124 | $93.18 | 96.3% | 104 |
| SUM | 257 | 2,405 | $255,133 | $106.08 | $243,385 | $101.20 | 95.4% | 98 |
| Sale Price $300,000 - $400,000 | ||||||||
| County | Units Sold | Sq.Ft. | LP | LP/Sq.Ft. | SP | SP/Sq.Ft. | SP/LP | DOM |
| CUY | 263 | 3,030 | $362,759 | $119.72 | $344,868 | $113.82 | 95.1% | 103 |
| LOR | 72 | 3,018 | $357,420 | $118.43 | $340,047 | $112.67 | 95.1% | 102 |
| MED | 57 | 3,352 | $360,816 | $107.64 | $346,170 | $103.27 | 95.9% | 118 |
| SUM | 122 | 3,136 | $355,989 | $113.52 | $339,911 | $108.39 | 95.5% | 96 |
All Data is Based on Average Recorded Sales in NORMLS between 3/16/08 - 9/16/08
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