Market Conditions for Fairview Park, Ohio Reported by Colleen Rock, REALTOR Updated October 1, 2009.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

In the City of Fairview Park, there are currently 105 homes FOR SALE with an average List Price of $153,000. The average days on the market is 126. The least expensive home is listed at $39,900 and most expensive is y home at $649,000.

In September, there were 33 homes that went under contract and placed in "Pending/Contingent" status.

For the month of September, there were 19 homes that SOLD with an average Sale Price of $138,000. The lowest Sale Price was $75,000 and the highest Sale Price was $245,000.

Compared to one year ago, the number of homes Sold and average Sale Price is nearly the same.

Given the decline in months of inventory, consistency in number of sales and average sale price, this community continues to exhibit very positive signs for a stabalizing market.

My opinion for this month:
Although we have positive indicators, my opinion for Fairview Park will remain neutral as to a Buyer's or Seller's market. And yes, even though the inventory of homes for sale is decreasing, I believe caution must be maintained since a major factor in this recovery has been the result of the tax credit provided to first time buyers (which will be ending as of November 30, 2009).

- Mortgage RATES are at a 50 year low, hovering around 5%; however, NOTE, rates are anticipated to move upward towards 6% in the next several months.
- First time buyers have an $8000 tax credit available for transfers made before November 30, 2009 (income limits apply).
- Unemployment has declined slightly, but still high in NE Ohio at 9.7% (as of 8/30/09).

WHAT DOES THIS MEAN?
If you are currently in the market to purchase a home, YOU SHOULD BE BUYING NOW. With the housing market rebounding and the $8000 Tax Credit and interest rates still low, take advantage of the times; nothing lasts forever.

Housing is an excellent, long-term investment.
PLEASE remember, all real estate is LOCAL.

There are advantages, for both buyers and sellers. Please contact me if you are considering selling or buying a home in 2009.

If you are in need of obtaining accurate information on your home's value, please call or email me direct. You may also visit www.colleenrock.com to view local reports and demographic information.
FOR DETAILED COMMUNITY INFORMATION visit my website (CLICK on link below)



ZIP Code: 44126

Location Characteristics: Fairview Park is, by far, one of the most convenient locations on Cleveland's west side. Located within 3 miles to Hopkins Inter'l Airport, 10 miles west of downtown Cleveland and it borders one of NE Ohio's most beautiful natural resources - The Metro Parks.

Tree-lined streets compliment beautiful houses, from Cape Cod to luxurious Colonial-style homes. The community offers five city parks, including a state-of-the-art sports park (Bohlken Park), hiking and biking paths into the Metroparks and quaint hide-a-way with Gazebo and Summner concerts at Bain Park.

Fairview Park is a family community with an average age of 39 and approximately 17,500 residents. A very special community that offers a great way of life and quickly becoming the western suburb of choice.



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