WKSU News: Northeast Ohio housing market feeds on strong rebound

Monday, November 19, 2012 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

Other options:

MP3 Download (0:19)

“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