REAL ESTATE MARKET REPORT

LORAIN COUNTY
Su

Tu

Th

Sa

4
11

10

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

Sunday, January 5

2014

TABLE OF CONTENTS
Market Summary Table
..
Glossary
...

Chase Group Real Estate

Keller Williams Greater Cleveland West
5061 N. Abbe Rd. STE 1
Sheffield Village, OH 44035
www.chasegrouprealestate.com
matt@chasegrouprealestate.com
440.328.4804

chasegrouprealestate
chasematt
chasegroupre
chasegrouprealestate

Real Market Reports

www.RealMarketReports.com

Page 1
Page 2

REAL ESTATE MARKET REPORT

LORAIN COUNTY
Sunday, January 5, 2014

Chase Group Real Estate

Keller Williams Greater Cleveland West
matt@chasegrouprealestate.com
440.328.4804

274

MARKET SUMMARY TABLE

A = Average Value
M = Median Value
N/A = Not Available

Price Range

1274

Low

High

Num
#

$0

$49,999

213

$50,000

$99,999

358

$100,000

$149,999

214

$150,000

$199,999

163

$200,000

$249,999

113

$250,000

$299,999

67

$300,000

$349,999

42

$350,000

$399,999

34

$400,000

$449,999

16

$450,000

$499,999

12

$500,000

$549,999

$550,000

$599,999

$600,000

$649,999

$650,000

$699,999

$700,000

26

Market Totals

909

PENDING [2]

1557

ACTIVE [1]

Days
on
Market

Current
List
Price

125

34,521

73

36,000

155

75,784

117

75,000

141

$ 123,952

114

$ 121,625

120

$ 173,600

92

$ 169,990

136

$ 227,006

103

$ 229,900

135

$ 275,827

116

$ 275,000

168

$ 326,695

87

$ 326,750

184

$ 373,481

148

$ 369,900

179

$ 428,188

120

$ 430,000

306

$ 478,933

182

$ 475,000

711

$ 535,560

127

$ 549,000

221

$ 584,413

120

$ 584,375

103

$ 630,860

113

$ 629,000

448

$ 674,450

448

$ 674,450

425

$ 1,111,300

192

$ 917,500

1,274

OFF-MARKET (last 6 mos) [3]

Num
#

Pend
Ratio

Num
#

Num
#

55

21%

132

330

68

16%

178

303

62

22%

192

288

27

14%

145

232

20

15%

89

131

18

21%

58

127

13

24%

35

61

13%

27

44

16%

17

14

14%

10

10

909

1557

33%

0
274

18%

ABSORPTION RATE
(months of inventory)

SOLD/CLOSED (last 6 months) [4]

Days
on
Market

Original
List
Price

Final
List
Price

Sold/
Closed
Price

ListSale
Ratio

63

31,965

27,413

86%

37

29,900

27,000

90%

105

78,421

73,883

94%

73

78,900

73,000

93%

86

$ 130,680

$ 125,326

96%

57

$ 129,900

$ 125,483

97%

88

$ 177,945

$ 171,877

97%

56

$ 179,000

$ 170,300

95%

88

$ 230,186

$ 224,842

98%

63

$ 229,900

$ 223,000

97%

59

$ 276,537

$ 272,486

99%

40

$ 275,000

$ 270,000

98%

109

$ 334,188

$ 323,504

97%

49

$ 334,900

$ 325,000

97%

86

$ 375,001

$ 371,853

99%

35

$ 374,900

$ 370,000

99%

36

$ 419,205

$ 419,897 100%

10

$ 427,450

$ 416,950

98%

72

$ 479,071

$ 465,500

97%

58

$ 475,000

$ 467,000

98%

130

$ 541,709

$ 525,466

97%

42

$ 542,698

$ 526,565

97%

194

$ 619,660

$ 566,200

91%

140

$ 599,900

$ 555,000

93%

$ 642,500

$ 642,500 100%

$ 642,500

$ 642,500 100%

91

$ 729,950

$ 686,557

94%

91

$ 729,950

$ 686,557

94%

307

$ 948,259

$ 857,531

90%

76

$ 889,900

$ 850,000

96%

3.9
7.1
4.5
4.2
5.2
3.2
4.1
4.6
6.9
10.3
4.3
4.8
30
6
31.2
4.9

Market Averages

152

$ 165,517

85

$ 153,080

$ 147,403 96%

Market Medians

107

$ 114,900

55

$ 129,900

$ 125,815 97%

Date Range (Off-Market & Sold) = 07/07/2013 to 01/05/2014

Data believed to be accurate but not guaranteed.

Est.
Mos.

Favors Sellers

Favors Buyers

Status = [1] A; [2] C, P; [3] X, W; [4] S

Area = 501, 502, 503, 504, 505, 506, 507, 508, 509, 510, 511, 512
Property Subtype 1 = SING

Real Market Reports

www.RealMarketReports.com

Market Summary Table

REAL ESTATE MARKET REPORT

LORAIN COUNTY
Sunday, January 5, 2014

Chase Group Real Estate

Keller Williams Greater Cleveland West
matt@chasegrouprealestate.com
440.328.4804

1. PROPERTIES FOR SALE (ACTIVE)

a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase
agreement.
b. Days on Market (DOM): The marketing period of currently active listings. This does not account for some listings
which have had a previous listing period, but were re-entered as a new listing.
c. Current List Price: The price that a property seller is currently asking.
2. CONTRACTS PENDING
a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed.
b. Pending Ratio: Sometimes called a list-to-pending ratio. This is a measure of how fast properties are going under
contract vs. how fast they are being listed.
Pending Ratio =

P (Number of Pending Listings)

A+P (Number of Active + Pending)

(P) represents properties that buyers have chosen

(A+P) represents the entire pool from which they have chosen
3. OFF-MARKET
a. Number Off-Market: The number of listing agreements that have failed to close in the last 6 months. Some
owners may choose to re-offer their property for sale.
4. PROPERTIES SOLD (CLOSED CONTRACT)
a. Number Sold: The number of properties that have gone to a closing in the last 6 months.
b. Days on Market (DOM): The marketing time it has taken properties to sell in the last 6 months.
c. Original List Price: The price at which a sold property was originally marketed.
d. Final List Price: The price at which a sold property was marketed just prior to selling.
e. Sold/Closed Price: The price for which a property sold.
f.

List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property.
List to Sales Ratio =

Sold Price
Final List Price

5. ABSORPTION RATE / MONTHS OF INVENTORY

a. Absorption Rate / Months of Inventory: An estimate of how fast listings are currently selling measured in months.
For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of
inventory before counting the additional properties that will come on the market.

Real Market Reports

www.RealMarketReports.com

Glossary