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Economy and Business


Northeast Ohio housing market feeds on strong rebound
Home sales jump more than 17 percent so far this year compared to the same period last year.
by WKSU's SIMON HUSTED

Reporter
Simon Husted
 

Home sales in Northeast Ohio are rebounding in a big way so far this year. Sales increased more than 17 percent from January through October compared to the same period last year. The total amount of money that changed hands also increased, by more than 22 percent.

The figures cover 17 counties from Cuyahoga to Cochocton and from  Mahoning to Medina.

Carl DeMusz of the Northern Ohio Realty Multiple Listing Service says Northeast Ohio’s housing market is back to the levels of the year 2000. 

Listen to DeMusz

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“It was a good exercise to go back 12 years and really compare the numbers and understand exactly where we stood," DeMusz says. "And that gave us two important benchmarks— of 2005 being the high point and 2011 being the low point. And now we are on our way back up. So I am pretty optimistic about the recovery on housing.”

Average home prices also increased in Northeast Ohio compared to this time last year.

In Summit County, the average price increased by more than 11 percent. The Stark County average went up by more than 8 percent and in Cuyahoga County, it climbed nearly 3 percent.

The following is a breakdown of housing stats on each of Northeast Ohio's three largest counties: Stark, Cuyohoga and Summit:

Summit County - October 2012


Oct. 2012 Oct. 2011 Change % YTD 2012 YTD2011 Change %
Sold listings 521 414 25.8 4,821 4,222 14.2
Money exchanged 68,976,232 47,790,090 44.3 653,790,273 513,015,220 27.4
Average sale price 132,392 115,435 14.7 135,613 121,510 11.6



Stark County - October 2012

 


Oct. 2012 Oct. 2011 Change % YTD 2012 YTD2011 Change %
Sold listings 521 414 25.8 4,821 4,222 14.2
Money exchanged 68,976,232 47,790,090 44.3 653,790,273 513,015,220 27.4
Average sale price 132,392 115,435 14.7 135,613 121,510 11.6



Cuyohoga County - October 2012

 


Oct. 2012 Oct. 2011 Change % YTD 2012 YTD2011 Change %
Sold listings 353
248 42.3 3,082 2,786 10.6
Money exchanged 38,786,228 24,751,144 56.7 348,167,376 289,866,584 20.1
Average sale price 109,876 99,803 10.1 112,968 104,044 8.6



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