Home Real Estate Average home price finally dropping in seller’s market

Average home price finally dropping in seller’s market

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BEACHWOOD, Ohio — After months of homes selling for record-breaking prices, new data shows Northeast Ohio’s real estate market starting to level off and even correct itself.

Data from MLS Now, the realty listing service throughout northeast Ohio, shows after months of exponential growth, the average home sale price started to level off and fell to $223,000 for September.

That’s down from $237,000, the pandemic-high this past June.

At the same time, MLS Now shows homes are starting to inch toward staying on the market a little longer, now averaging more than 30 days for the first time since May.

News 5 has reported extensively on Northeast Ohio’s fast-paced real estate market this year, which included some house hunters waiving inspections, covering appraisal gaps and even buying homes sight-unseen before they hit the market.

Roland and Jada Cross decided to build their new home in Beachwood, after seeing a handful of their offers outmatched against…

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