The Real Estate world with fright with many types of assets to put your money and time in. When your buying a home to live in or invest in consider the upside part of real estate and how it can profit you. The key is getting the right home in is to look in areas that are trending upwards. What other investment can give you the leverage real estate does?
Let’s look at some areas that I have been purchasing in for my clients and see the trends in this current market. Numbers are based on the NEOHREX – Monthly NAR Statistical Report
Let’s look at Strongsville Ohio, total sales this year is 393 Homes and 281 of them sold in 60 days or less. That is an excellent days on market area and shows that the tends are good. The Average home sale last year was $222,518. Fast forward to this year and the average price is $239,306. That is a nice trend for the equity positions in this city.
North Olmsted is next Total homes sold 316 and 221 where sold in 60 days or less. Again great numbers for a trend. The average price for homes last year was $138,973. Fast forward til today and the average price is $145,965. Nice steady growth in very affordable area.
Lastly lets look at Chagrin Falls the average price last year was $342,279 and currently it is $360,496. The days on market are higher in this area because of the age of homes and all the different facets that buyers have in this market.
These areas are just some of the cities that we have recently purchase in and you an see the steady market price growth in these areas. Strongsville around 7-8%, North Olmsted around 5% and Chagrin Falls around 5% equity growth.
When you are looking at real estate to purchase for living and or investing you need to look at the trends and which way they are going. I always consider the amenities and the living environment that best fits my clients needs and wants. Look at the numbers before you look at the homes.