Single Family Home Sales In The First 8 Months

The chill is in the air. Vacations are over and the kids are back in school. Most everyone is back to work. So how is the Real Estate market doing in Lakewood?

At the end of the first 8 months, there were 211 single family homes sold in Lakewood at a median price of $112,200. Comparitively, in the first 8 months of 2010, there were 239 homes sold with a median price of $115,000. Prices have fallen roughly 2.5% and the number of sales down roughly 12%. In 2010, the year ended with 322 homes sold at a median price of $113,750.

Figures released by The Ohio Association of Realtors are showing a 3.7% drop in prices statewide, and a 9.9% drop in the number of homes sold. So Lakewood is doing a little worse than average in the number of homes sold, but a little better than average in maintaining prices. The months of September and October should tell us where we should end up for the year since the last two months are typically slow.

One of the principals always stated by The National Association of Realtors is that, "All real estate is local." So be careful to take national statistics with "a grain of salt." If you'd like a free report on your neighborhood feel free to contact me or go to www.MurphyBergin.com.

Pat Murphy is a licensed Realtor with Prudential Lucian Realty in Lakewood.

Pat Murphy

Licensed Realtor at Prudential Lucien Realty.

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Volume 7, Issue 19, Posted 8:27 AM, 09.21.2011