For our latest Cleveland area market update, we’ll be focusing on two local communities: Hinckley and Brunswick. There are four market indicators we look at to determine how each market is doing.

The market action index is a scale from zero to 100—anything below 30 indicates a buyer’s market, and anything above 30 indicates a seller’s market. Hinckley is sitting at 37 on the index, meaning it’s a slight seller’s market. The average price for homes is $479,000, which is an increase from last week’s average of $450,000. The days on market has gone down to 118, dropping from last week’s 138. Inventory is extremely low; there are only 21 homes on the market currently.

“There are four market indicators we look at to determine how each market is doing.”

The market action index in Brunswick is 32, meaning it’s approaching more of a balanced market. The median list price is $245,900 and the average days on market is at 90. We’ve seen a decrease in inventory over the last week, dropping from 66 homes to 63.

In Brunswick, condos have a market action index of 58—a stronger seller’s market. It’s a great time to be a condo owner if you’re looking to upgrade to a single-family home.

If you’d like more information about these areas or other Cleveland communities, feel free to call us at 440-879-8851 or visit www.TheRSVPGroup.com. We look forward to hearing from you soon.