Home Prices on The Rise in Northeast Ohio
Numbers from August 2018 show a 6.4% climb in home prices in Northeast Ohio, according to a recent report. This marks another step in the continuous climb in home prices for the region.
"Amid steady buyer demand and scant listings, average sale prices were up sharply from August 2017 in many of the 18 counties tracked by Yes MLS, a real estate listing service," according to National Mortgage News.
"In Cuyahoga County, the average sale price for a new or previously owned house or condominium rose 9% from a year before, to $184,288."
Northeast Ohio has remained a hot market with demand continuing to drive up home prices. According to the report, some buyers have even paid upwards of $3.3 million for a home within the last month.
"Home sales picked up, too, rising 4.2% from their August 2017 levels and picking up from July's pace," according to NMN.
"And properties changed hands at a faster clip. Homes sold in August spent 61 days on the market, on average, about a week less than a year before."
To learn more about Northeast Ohio's successful housing market, click on the image above.