Here is the market report for Avon Lake for the past month of December for those of you that may have missed this report 2 weeks ago. Homes sold in Avon Lake over December was up 39% compared to last month. Homes that are in pending status were up 41.7 % with 17 homes in the area right now in pending. Inventory was down 6.6. % which is another indication that homes are selling and competition for sellers has decreased some.
The average time a home has been on the market has been lingering around 101 days with homes holding about 91% of their original listing price upon sale. This is not bad for most home sellers who last year were looking at 130 days average.
Average price per square foot has been around $115 which is still pretty solid though not around the $120 mark reported last year at this time.
So in the big picture there are two positive notes. One if you are in the position to place your home on the market you should do so now. Sales are increasing and the competition is decreasing allowing home sellers the
opportunity to sell on a strong profit.
On the other side, if you are in the market to buy, you should buy now. Home prices are still very good and mortgage rates continue to be under the 5% mark. There is still an inventory of homes to choose from in every price market.
Now I should have January sales report in the next few days for you. If you have any further questions about buying a home in the Avon Lake area, give me a call. I will be more willing to help you.
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