Northeast Ohio
Real Estate
December 17, 2021
Happy Friday!
I hope you have the opportunity to spend time with family in friends in the coming weeks!

We'll be having a quiet Holiday Season this year at home in University Heights and potentially hike a trail or two in the Cleveland Metroparks.

Thank you for checking this out- please reach out if you have any specific questions!
Pat's Update

As is typical with seasonality, the market has somewhat slowed in the last two weeks.

Typically, sellers prefer to wait at this point in the year until after the New Year to list. This has been the case again in 2021.

However, due to the lack of inventory, in my opinion, this is the best time of the year to list a home. There's essentially no competition and no inventory. There's still a glut of active buyers hoping to secure a home before spring.

Great time for buyers and sellers! Please let me know if you know anyone needing guidance for 2022. Now is the time to start planning for the coming year.
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Active listings have declined since September, but median sales price has remained flat.
Interest Rates

Mortgage rates rise after inflation news, Fed announcement. Mortgage rates edged up slightly over the past week on the heels of recent economic developments and updated central bank guidance.

The 30-year fixed-rate mortgage averaged 3.12% for the weekly period ending Dec.16, rising two basis points from 3.1% seven days earlier, according to the latest Freddie Mac Primary Mortgage Market Survey. The current average came in 45 bps above the rate from the same week a year ago, 2.67%.
Listing of the Week
6 Clifton Pointe Lakewood, OH

A few of my buyers were lucky enough to get this amazing condo in Lakewood under contract. Modern luxury end unit in one of the most desirable Lakewood neighborhoods. Eco-friendly with a great view of both the Rocky River and Lake Erie.

Cheers!

Click here for the ---> Listing Link
Pat Barmann
216.990.5719