IMPROVING CLEVELAND REAL ESTATE MARKET—WHAT EVERY HOME BUYER AND SELLER SHOULD KNOW (July 30 update)

By
Real Estate Agent with RE/MAX Traditions (Cleveland, Ohio)

 (The following is specific to one area of Greater Cleveland.  If you are a home buyer or home seller, and especially if relocation is the reason for your move, this detail is extremely important to you.  Please do not make financial decisions without knowing the facts about your community. If you are buying or selling a home, this same type of analysis will be done for your community/neighborhood. )

 

 

44022     CHAGRIN FALLS      44023

INVENTORY REPORT FOR July 30, 2009

 

Price Range                  Active&Contingent     Pending& Sold        Current Inventory

 

$150,000 - $300,000         185                              90              12 months/last month 15

$300,001 - $500,000        178                              65               16 months/last month 20  

 $500,001 +                      178                             34             31 months/last month 51       

 

....TOTALS........                         541                                 189               

 

                        Total Homes for Sale                 541

                        Average Sales/Month                 31.5

                        Months of Inventory                 17

                                    

 

                        This past month reflects tremendous improvement in the sale of homes in CHAGRIN FALLS.  The same is likely to be true for Solon, Twinsburg, Aurora, and Russell.  If you need to know this information for your specific area,  for developments like Laurel Springs, Barrington, and Canyon Lakes, give us a call.  The above numbers may be eye openers for many of you.  If you are currently selling your home, you may not be aware of these recent changes.  Most importantly, ALL BUYERS AND SELLERS should be aware of them for your street, neighborhood, and community.  The numbers can change dramatically by location, even within your local community.

If you are looking to purchase a home in the next few months, please give us a call.  We are in our show all properties listed by any real estate broker and most for sale by owner homes.  Most importantly, our purchase analysis for buyers includes the street, neighborhood, and the local community facts.

If your interest is in homes priced above $500,000, the above chart indicates an inventory of 31 months, a dramatic improvement of 48 months  just 30 days ago.  If you are ready to negotiate, there are still excellent values available in every price range.   

 For families and individuals involved in a relocation transfer, you're timing is excellant.  The Greater Cleveland Community has so much to offer and is one of the most affordable major metropolitan areas in the country.

YouClevelandRealtor.com website contains information on mortgage rates, lenders,and  local community groups.  Our services are designed for Executive Relocation & Luxury Home Market and are provided to all of our clients.    

Jim & Joan Norbuta

Realtor

RE/MAX TRADITIONS

RE/MAX RELOCATION                OUR PEOPLE MAKE A DIFFERENCE ONE MOVE AT A TIME ®

Serving the communites of Aurora, Auburn, Bainbridge Township, Chagrin Falls, Solon, Twinsburg, and all of the Chagrin Valley.  Call us for referrals to outstanding RE/MAX agents in other communities.

Also, visit our post, Signs that the Market has Turned:  http://www.yourclevelandrealtors.com/2009/07/14/signs-that-the-real-estate-market-has-turned%e2%80%a6/

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