A lot can change in six months, and the housing market is no exception! If you’re looking to see how these real estate trends affect properties in Cleveland, OH, you’ve come to the right place.
How much has changed since Q1 of this year? Let’s take a look at Cleveland real estate trends for June 2022 and see how it can affect buyers and sellers alike.
Cleveland Real Estate Trends for Q2 2022
According to Money Crashes, Cleveland is currently the best city in America to buy a home. This was based on relative prices compared to regional and national averages. Not only does Cleveland offer a high quality of life, but it is also quite affordable. This makes purchasing a single-family home appealing to those working from home as well as those looking to invest in real estate.
Cleveland homes are excellent investments. When taking home price volatility, home sales, average loan-to-value, and home price-to-income ratio, Cleveland falls within the top four markets with the lowest risk of a declining real estate market.
When we look at the numbers, the total number of homes sold in Ohio went slightly down in March 2022 as compared to the number of homes sold in March 2021. But while this may be the case, the average price per home increased.
The low sales numbers are nothing to be afraid of. On the contrary, this is beneficial to sellers. The lower quantity of homes sold coupled with the higher prices are indicative of a competitive market. Cleveland still remains to be in demand and the market just can’t keep up! There are still more buyers than are sellers, so sellers can expect to earn more than the listed price.
You can expect the average sales price to increase as the months go by. According to previous sales reports, most real estate activity occurs during the spring and summer months in Ohio. Seeing as we’re only about to enter summer, there’s still some time to get into the market. If you’re looking to make serious bank on your property, now is the best time to put it up on the market!
SELL TO A PROFESSIONAL HOME BUYER
It’s only a matter of time until homeowners start putting their properties on the market as well. If you want to get the best deals possible, you need to act quickly! One way you can do this is by selling your home for cash in Cleveland, OH. This guarantees that you will be able to sell your home while home prices are high and before the market turns into a buyers’ market.
When you sell to a professional cash home buyer, you don’t need to renovate or do any repairs on your home. Cash home buyers in Cleveland, OH purchase homes as-is, where-is. This saves you valuable time and money.
If you choose to sell to a professional cash home buyer, make sure you partner with one who has a strong local presence. These kinds of companies understand the local market and will be able to give you a fair market price on your home.
NEED TO LEARN MORE?
RC Home Buyers is a residential redevelopment and real estate solutions company. We’re a veteran and family-owned business with a mission to help homeowners like you find solutions for your problem whether you’re going through a foreclosure, can’t sell your property, or just need to sell their house for all kinds of reasons. We buy houses in Cleveland, Ohio no matter what state, condition, or situation it’s in. If you’re looking to sell your home, we’re here for you.
CONTACT US TODAY
RC Home Buyers helps property owners just like you, in all kinds of situations. From divorce, foreclosure, death of a family member, burdensome rental property, and all kinds of other situations. Sometimes, those who own property simply have lives that are too busy to take the time to do all of the things that typically need to be done to prepare a house to sell on the market. If that describes you, just let us know about the property you’d like to be rid of and sell your house fast for cash. Call us today at (614) 714-1794.