What's going on in our market? I'm joined by Chris Moscarino from Bold Real Estate Consultants to help me update you on Berea, Brookpark, Parma, Middleburg Heights, Strongsville, Brunswick, and Medina.
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For today's update on the northeast Ohio market, I've asked Chris Moscarino of Bold Real Estate Consultants to come help me explain things. We're focusing on seven areas in particular today.
Berea: Inventory is 1.9% lower than last February and sold homes are up 14.3% with 23 homes pending. It's a neutral market but appears to be shifting to a seller's market.
Brookpark: It's a seller's market with inventory down 60% from last year. Sold homes are down 20% with pending sales up 18.8%. The good news for sellers is that 19 of 20 homes for sale went under contract.
Parma: It's also a seller's market with inventory down 21.2% and sold homes up 14.9%. Almost 50% of the inventory is going under contract, which is great news. We're almost to a point for the first time in a decade when available inventory is down below 200 homes.
Middleburg Heights: Current inventory is down 66.1% with just 21 homes on the market. Sold homes are up 18.2% and pending sales are up 31.3%. This tells us that almost all homes going under contract are selling.
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Inventory is 66.1% lower now than it was at this point last February in Middleburg Heights.
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Strongsville: Inventory levels are down 43.7% and sold homes are down 33.3% with pending sales up 10.2%. It's another area with over 50% of the inventory on the market going under contract.
Brunswick: The market is neutral but shifting to a seller's market. The number of sold homes is down 40% from last year and pending sales are down 1.6%. These decreases are due to lower inventory.
Medina: Inventory is down 19.2% but the number of sold homes is up slightly. Pending sales are up 11% as well. The market is consistently neutral.
If you have any other questions about your particular area, give me a call or send me an email. I'd be glad to help you!
