REAL ESTATE MARKET REPORT

LORAIN COUNTY
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Sunday, February 2

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, February 2, 2014

Chase Group Real Estate

Keller Williams Greater Cleveland West
matt@chasegrouprealestate.com
440.328.4804

319

MARKET SUMMARY TABLE

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

Price Range

1268

Low

High

Num
#

$0

$49,999

198

$50,000

$99,999

346

$100,000

$149,999

219

$150,000

$199,999

167

$200,000

$249,999

115

$250,000

$299,999

73

$300,000

$349,999

38

$350,000

$399,999

39

$400,000

$449,999

17

$450,000

$499,999

13

$500,000

$549,999

$550,000

$599,999

$600,000

$649,999

$650,000

$699,999

$700,000

27

Market Totals

915

PENDING [2]

1396

ACTIVE [1]

Days
on
Market

Current
List
Price

137

34,631

80

38,894

160

76,215

132

75,000

134

$ 123,982

113

$ 121,000

129

$ 172,568

112

$ 169,990

136

$ 226,217

120

$ 229,400

125

$ 277,116

99

$ 276,900

156

$ 324,726

82

$ 322,490

166

$ 372,194

158

$ 369,900

181

$ 431,729

109

$ 434,500

311

$ 477,091

176

$ 475,000

659

$ 529,633

191

$ 539,450

188

$ 584,610

92

$ 594,750

68

$ 631,433

33

$ 629,000

476

$ 674,450

476

$ 674,450

409

$ 1,229,359

166

$ 924,000

1,268

OFF-MARKET (last 6 mos) [3]

Num
#

Pend
Ratio

Num
#

Num
#

70

26%

131

310

68

16%

185

280

61

22%

188

264

44

21%

146

192

28

20%

84

114

20

22%

60

105

10

21%

40

56

10

20%

30

35

11%

16

15

13%

11

915

1396

40%

0
2

7%

319

20%

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

66

31,076

27,332

88%

42

29,900

27,000

90%

106

78,927

74,459

94%

74

79,839

74,000

93%

85

$ 130,601

$ 125,053

96%

58

$ 129,900

$ 125,000

96%

84

$ 178,994

$ 172,814

97%

58

$ 179,087

$ 172,250

96%

85

$ 229,206

$ 224,767

98%

62

$ 229,900

$ 222,888

97%

65

$ 275,427

$ 272,258

99%

49

$ 275,000

$ 270,000

98%

100

$ 334,283

$ 323,860

97%

40

$ 336,226

$ 325,000

97%

46

$ 376,922

$ 371,484

99%

33

$ 374,900

$ 370,000

99%

41

$ 424,864

$ 421,177

99%

13

$ 429,900

$ 418,900

97%

79

$ 479,750

$ 466,750

97%

65

$ 477,500

$ 467,500

98%

174

$ 548,253

$ 525,513

96%

93

$ 545,000

$ 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%

178

$ 719,633

$ 690,705

96%

125

$ 729,900

$ 688,114

94%

307

$ 948,259

$ 857,531

90%

76

$ 889,900

$ 850,000

96%

3.8
7.4
5
5.2
6.1
4.2
4.1
6.7
6.8
13
7.2
6
18
4
32.4
5.4

Market Averages

154

$ 172,221

84

$ 150,554

$ 145,017 96%

Market Medians

115

$ 119,900

56

$ 125,000

$ 120,000 96%

Date Range (Off-Market & Sold) = 08/04/2013 to 02/02/2014

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

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Market Summary Table

REAL ESTATE MARKET REPORT

LORAIN COUNTY
Sunday, February 2, 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

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Glossary