What’s Happening with Real Estate in the Cleveland Area?

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Today we will be giving you brief market updates for some pockets of the Cleveland area. We’ll be focusing on Summit, Medina, And Cuyahoga Counties.

To start, let’s look at Cuyahoga Falls. There are 146 properties and there are 90 homes under contract, which is way up over last year. There is only 2.9 months of inventory available, but that is a common problem all across the nation. In Stow, we have 67 homes on the market, which is down from last year. Nearly 36 homes closed last month, and the average days on market is 64. There are 91 properties on the market in Hudson, which is down from last year by about 16%. There are also 50 homes under contract and 31 closed properties. The average days on market is holding steady at 108, and there is only a 2.9 month supply of homes.

It’s a great time to be a seller in Cuyahoga Falls, Stow, or Hudson. Inventory is really low and sellers can take full advantage of this. This also means that sellers can kind of demand their price without much pushback from buyers.

Let’s take a look at Medina County now. In Brunswick we are in a seller’s market, and the days on market is currently at 95. That’s a little higher than usual, but this could be due to poor pricing.

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It’s a great time to be a seller in Cuyahoga Falls, Stow, or Hudson

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The City of Medina has 83 properties and 43 of them have gone under contract. Nearly 22 of those properties closed. The days on market is sitting at 111 and inventory levels are right at 3.8%.

Strongsville is actually in a neutral market right now. There are 169 properties, 89 went under contract, and 56 actually sold. The days on market is at 74 days and they have a 3 month supply of homes.

In Parma there is a seller’s market with 216 properties on the market, 144  under contract, and 88 properties went under contract. Inventory is below 200 homes, which is far below the usual level of 400 homes. Homes are selling in an average of 86 days with only 2.5 months of inventory left.

If you have any further questions about the market in Cleveland, please don’t hesitate to contact us. We can provide you with all the necessary information.