According to a Wall Street Journal article published earlier this week, home prices are almost back to their long-term trend. Adjusting for inflation, U.S. home prices were 40 percent lower in the first quarter of this year than at their peak five years earlier. That left prices just 7.5 percent above their average level from the mid-1940s through the 1990s – a period when home prices tended to gain at the same pace as overall inflation.
Listed below are the statistics for all properties sold in Mayfield, Mayfield Heights and Mayfield Village since the first of the year.
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Bedrooms Bathrooms Square Feet List Price Selling Price DOM/CDOM Minimum 0 0.00 0 $39,000 $42,000 0/0 Average 3 2.00 1,603 $138,779 $127,288 124/164 Median 3 2.00 1,346 $122,500 $113,000 83/126 Maximum 6 6.00 6,030 $525,000 $425,000 607/607 Total Dollar Value $9,928,494 Average DOM Breakdown and Average % of Listing Price received on Solds by Market time: 0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days No. of Listings 14 13 14 5 32 Breakdown % 17.95 16.67 17.95 6.41 41.03 Avg SP%LP 95.58 88.80 92.59 90.99 91.38
Average CDOM Breakdown and Average % of Listing Price received on Solds by Market time: 0-30 Days 31-60 Days 61-90 Days 91-120 Days 120+ Days No. of Listings 12 8 12 6 40 Breakdown % 15.38 10.26 15.38 7.69 51.28 Avg SP%LP 95.72 91.63 93.26 92.49 90.34
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