The Latest Trends in the Northeast Ohio Real Estate Market

How did the December 2016 market stack up against the December 2015 market? We’ll look at the latest numbers today. 

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Today, we’ll take a look at the latest market numbers from a few different areas and compare December of 2016 to December of 2015.

In Parma, inventory dropped by 22% from December of 2015 to December of 2016. At the same time, the number of properties going under contract went up 16%. Overall, Parma continues to be in a seller’s market. If you’re hesitating to sell this time of year, you should know that Parma is still in a great place for you to list your home and net more money. 

In Middleburg Heights, inventory levels are down 62% and the number of properties going under contract is up by 30%. Middleburg is also in a seller’s market.

North Royalton saw a 39% decrease in inventory and a 19% increase in properties under contract. North Royalton is in a neutral market compared to a few months ago, when we were in a strong seller’s market.

In Strongsville, inventory levels are down by almost 50% year over year, while pending properties are up 88%. Strongsville is in an incredibly strong seller’s market, which is great news for homeowners who may have been under water back in 2008 or 2009. If that’s the case for you, now is a great time to get your property back on the market and net more money.

Now is a great time to put your home on the market.

Brunswick also saw a decline in inventory, with inventory dropping by 42%. The number of properties under contract also dropped to 28.3%. Why? A lot of the inventory out there right now is stale, so the good inventory is going quick. Brunswick is still in a seller’s market.

Inventory in Medina dropped by 27% but the number of properties going under contract increased by 27%. Medina continues to maintain a neutral position in the market right now.

So, what does that mean to you? If you are a seller and you have been hesitating about putting your home on the market, now is a great time to sell. A lot of people have pulled their homes off of the market to wait for spring, which means you will face less competition. Not only that, demand is still strong and there are plenty of buyers out there on the market.

If you have any other questions about the current market or about selling your home, give me a call or send me an email. I would be happy to help you!

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