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Asked by R, Parma, OH Tue Jan 8, 2008

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2
Bob Kienast, Agent, North Royalton, OH
Wed Jan 9, 2008
Parma was a difficult market for sellers this past summer. A record number of homes on the market made for long market times for many sellers. There were still over 700 homes sold in the city for the year, so homes that were in good condition with some updates and above all the RIGHT PRICE, were still getting SOLD. Homes that are selling now, probably have had price reductions. It is also possible that based on the feedback from buyers, the owner made some improvements to the home to make it more desirable. In any case, the number of homes on the market has been dropping since November, and the number of new listings has dropped sharply. Less inventory means that the homes that have been on a while may be getting a second look, and are finally being sold.

Your area code covers a lot of ground in Parma. Without knowing exactly what street you're on, I can't give you a good reason for why people may be asking more now than they were last year. It's possible that the owners are making improvements, and trying to recoup some of the cost of the updates in the price.

The conditions in Parma over the next few years in Parma will depend entirely on the number of homes on the market. My research shows that for the 1st time in nearly 2 years the number of homes sold exceeds the number of new homes on the market. More than ever, in order to get a home sold, the seller must pay attention to the details, and have the home it tip top condition when it comes on the market.
1 vote
Chuck Patter…, Agent, Columbus, OH
Tue Jan 8, 2008
The general wisdom is that we'll come out of this slump in the next two years, but opinions vary. A report released today by one real estate group is forecasting a boom for the 2nd half of 08. We can only hope and pray and continue to look forward. It's a GREAT time to be a buyer, but not such a great time to sell.
Web Reference:  http://www.chuckgetsreal.com
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