cleveland ohio business license for home

The typical house sold in August spent 30 days on the market.Īcross the region, new listings slipped from July to August and were down 9.4% from a year before. Condos sold at an average price of $198,099, for a 7.6% annual gain.īuyers paid anywhere from $4,500 (for a foreclosed, 653-square-foot bungalow in Akron) to $2.7 million (for a gated lakefront estate in Bay Village), listing-service records show. In Northeast Ohio, the average sale price for a house was $251,443 in August, up 7.4% from a year before. The local slowdown is modest compared with the pullback that's occurring in pricier parts of the country, though. Higher borrowing costs, economic uncertainty and a longstanding listings shortage are keeping some aspiring buyers at bay. Through August, sales were down by 3.5%, when compared with the first eight months of 2021. But closings were off by 2.2%, or 116 properties, from a year before. Sales jumped 11.3% from July, when the market cooled due to rising mortgage interest rates and broader inflation. Those transactions include new and previously owned homes in 18 counties. Northeast Ohio home sales rebounded in August after dipping in July, though purchases still fell short of last summer's levels.Īcross the region, buyers closed on 5,262 houses and condominiums last month, according to MLS Now, a real estate listing service.

Cleveland ohio business license for home