REAL ESTATE MARKET STATISTICS FOR BRECKSVILLE, BROADVIEW HTS.,NORTH ROYALTON,SEVEN HILLS,INDEPENDENCE,GARFIELD HTS.,PARMA,PARMA HTS.,MIDDLEBURG HTS.
Greetings,
Below you will find some statistics for the southern suburbs of Cleveland. It is a comparison between 2007 and 2008, excluding December 2008. All information was obtained from NORMLS and is deemed reliable but not guaranteed.
| CLOSED TRANSACTIONS FOR 2007 | | | | | | | | | | | | | | | | | | | | | | | |
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| AREAS: | # OF SALES | AVG. SQ. FT. | AVG. # BEDS | AVG. # BATHS | AVG. LIST PRICE | AVG. SOLD PRICE | SP AVG. SQ. FT. | DAYS ON MARKET | | | | | | | | | | | | | | | | |
| BROADVIEW HEIGHTS | 263 | 2287 | 3 | 2 | $254,856 | $242,363 | $106.59 | 92 | | | | | | | | | | | | | | | | |
| BRECKSVILLE | 171 | 2591 | 3 | 2 | $295,897 | $278,510 | $107 | 77 | | | | | | | | | | | | | | | | |
| NORTH ROYALTON | 253 | 1936 | 3 | 1 | $190,904 | $181,526 | $94.78 | 78 | | | | | | | | | | | | | | | | |
| SEVEN HILLS | 109 | 1885 | 3 | 2 | $194,573 | $185,734 | $102 | 82 | | | | | | | | | | | | | | | | |
| INDEPENDENCE | 45 | 2285 | 3 | 2 | $289,033 | $272,299 | $125 | 78 | | | | | | | | | | | | | | | | |
| GARFIELD HEIGHTS | 352 | 1358 | 3 | 1 | $86,561 | $82,613 | $59.96 | 91 | | | | | | | | | | | | | | | | |
| PARMA | 768 | 1360 | 3 | 1 | $123,629 | $118,653 | $89.17 | 74 | | | | | | | | | | | | | | | | |
| PARMA HEIGHTS | 218 | 1382 | 3 | 1 | $124,417 | $119,688 | $91 | 82 | | | | | | | | | | | | | | | | |
| MIDDLEBURG HEIGHTS | 151 | 1586 | 3 | 2 | $160,941 | $154,835 | $98 | 77 | | | | | | | | | | | | | | | | |
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| CLOSED TRANSACTIONS YTD 11/30 | | | | | | | | | | | | | | | | | | | | | | | |
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| AREAS: | # OF SALES | AVG. SQ. FT. | AVG. # BEDS | AVG. # BATHS | AVG. LIST PRICE | AVG. SOLD PRICE | SP AVG. SQ. FT. | DAYS ON MARKET | | | | | | | | | | | | | | | | |
| BROADVIEW HEIGHTS | 180 | 2335 | 3 | 2 | $245,621 | $231,257 | $100 | 109 | | | | | | | | | | | | | | | | |
| BRECKSVILLE | 105 | 2659 | 3 | 2 | $289,639 | $268,580 | $99 | 100 | | | | | | | | | | | | | | | | |
| NORTH ROYALTON | 224 | 1934 | 3 | 2 | $184,896 | $172,758 | $85 | 99 | | | | | | | | | | | | | | | | |
| SEVEN HILLS | 99 | 1767 | 3 | 2 | $180,105 | $169,895 | $98 | 97 | | | | | | | | | | | | | | | | |
| INDEPENDENCE | 42 | 2452 | 3 | 2 | $304,156 | $281,664 | $114 | 107 | | | | | | | | | | | | | | | | |
| GARFIELD HEIGHTS | 289 | 1288 | 3 | 1 | $59,217 | $54,168 | $40.66 | 97 | | | | | | | | | | | | | | | | |
| PARMA | 745 | 1339 | 3 | 1 | $109,994 | $104,438 | $79 | 84 | | | | | | | | | | | | | | | | |
| PARMA HEIGHTS | 163 | 1351 | 3 | 1 | $109,783 | $103,528 | $78 | 78 | | | | | | | | | | | | | | | | |
| MIDDLEBURG HEIGHTS | 135 | 1608 | 3 | 2 | $146,889 | $139,588 | $86 | 82 | | | | | | | | | | | | | | | | |
As evidenced above there was a decline in the AVERAGE selling price for each community except Independence. Following are the AVERAGE percentages of decline.
Broadview Heights -4.58%
Brecksville -3.56%
N. Royalton -4.68%
Seven Hills -8.52%
Independence +3.31
Garfield Heights -34.43
Parma -11.98
Parma Heights -13.50%
Middleburg -9.84%
There was also a decline in the AVERAGE list price, which clearly follows declining selling prices.
Broadview Heights -3.62
Brecksville -2.11
N. Royalton - 3.14
Seven Hills -7.43
Independence +4.97
Garfield Heights -31.58
Parma -11.02
Parma Heights -11.76
Middleburg Heights-8.73
The AVERAGE days on the market has increased, which is expected with a decline in the market.
THE GOOD NEW IS THAT THERE IS A POSSIBILITY THAT MORTGAGE RATES MAY DROP TO 4.5 % AND THAT MEANS GOOD NEWS FOR MANY BUYERS AND SELLERS.
I hope you have found this information useful. Feel free to call me with questions or if you would like statitics for the city in which you live.
Regards,
Barb
INFORMATION SUPPLIED BY NORMLS AND IS DEEMED RELIABLE BUT NOT GUARANTEED.