When you do a quick Google search for ‘neighborhoods in Rocky River” the top two places that auto populate are Beachcliff l and Beachcliff ll. While these neighborhoods are highly desirable and are a popular choice, a hidden gem that only locals (like myself) are aware of is the Library District. Don’t miss out on this home in Library District Neighborhood in Rocky River, Ohio!
Imagine a place where a short walk would give you access to boundless entertainment options, superb restaurants and exceptional schools. Rocky River’s Library District is located between the Rocky River and Wagar Avenue, just South of Detroit Avenue. It is home to an array of local hangouts, the Rocky River Public Library, and many independently owned businesses and shops.
These Homes Are Selling Fast!
With all of the conveniences and charm, it’s no coincidence homes in the Library District are in high demand and selling fast. A key component in studying market trends is measuring the “months’ supply“, which refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly. In December 2020, the months’ supply was at a record low of 1.9 months, meaning that at the current sales pace it would take just 1.9 months for housing inventory to be depleted. This is down from the 2.3-month figure recorded the month prior (November 2020), and from the 3-month figure a year earlier in December 2019.
The Library Districts’ market conditions are no exception. In 2019 the average months’ supply was 1.49 months. Yet in 2020, supply was 1.6 and in 2021 inventory would sell out in just 1.29 months according to The Multiple Listing Service (MLS).
In other words, homes in the Library District go fast – find out more about how you can get in on this fabulous neighborhood…reach out to Julie Rasic today!
View Current Listings Here
