The Neighborhood Experts at Platinum Real Estate say the Lake County real estate market is booming
By Mimi Vanderhaven
Just as students returning to school this month didn’t look anything like you’d expect, the local real estate market is also behaving uncharacteristically for this time of year.
It’s booming.
The thermostat might be precariously perched for a dip, but housing sales in Lake County couldn’t be hotter. What does that mean for you?
We caught up with local real estate expert Denise Zervos, who, along with her husband, Mark, owns The Neighborhood Experts at Platinum Real Estate, to find out. She supplied us with a market data report of real market and real time numbers for Lake County.
It spans January through August, comparing home sales in different price categories from 2019 to 2020.
“The biggest growth we see is in homes priced from $200,000-$350,000 and over $1 million,” she explains.
The average sale price for homes in Lake County rose from $188,687 in July to $211,077 currently, which can be attributed to the low number of homes available in the $200,000 price range. The luxury market also took a huge leap this year.
“As we progress further into fall, I wouldn’t expect things to slow,” she predicts. “Just last week I had a client make an offer on a home in Mentor and they were one of 11 offers. That means there are still 10 other buyers out there feverishly looking for a new home. They’re poised with pre-approvals or cash and are ready to buy.”
Needless to say, now would be an optimal time to consider putting your house on the market. Like Bob Dylan used to sing, “the times they are a-changin’,” and you never know for sure what’s around the corner.
With all this growth in the market, Denise and Mark are happy to be riding their own upward trajectory. In next month’s Mimi Magazine, don’t miss the story about their new headquarters in The Platinum Center (formerly the Polo Building in Mentor).
Platinum Real Estate has 16 offices in Northeast Ohio and Columbus and nine in Florida. For a confidential appointment or to get more information, call 216-990-2100 or 440-974-SALE and visit YourNeighborhoodExpert.com. To sign up for the Dream Home Finder program, visit PlatinumMovesYou.com/dreamhome.