Cuyahoga Falls, Ohio Real Estate Market Update January 2012
Cuyahoga Falls sales of single family homes in 2011 was nearly the exact same as 2010!
450 Homes sold in 2011 vs. 459 homes sold in 2010.
Here is what's different though.........
Average Sale Price in 2011 was $106,246 vs. $115,532 in 2010. That's a decrease of 8%
Average Sale Price per square foot in 2011 was $72 vs. $79 in 2010. That's a decrease of 9%
Average Days on Market in 2011 was 112 days vs. 94 days in 2010. That's an increase of 20%!
However, interestingly enough, the average sales price vs. list price in both years was 95%!
What does this tell us? The market activity for single family home sales in Cuyahoga Falls was very similar in each of the past two years, although homes sold for slightly less in 2011 and took longer to sale.
The 95% sales price vs. list price for both years tells us that properties are being priced close to market value and the trend of recent years that buyers can discount asking prices by 20% is not correct.
Remember, when you are ready to buy or sell your Cuyahoga Falls Home, call me. I can help.
Tony Morganti, CRS, ABR