Cleveland Real Estate News

Part One of this comparison of home sales  dealt with Downtown Cleveland, West Side suburbs and West Cleveland. Now I’m moving on to the east side. Only doing single family homes and these are the homes listed with area brokerages.  As comparisons go, it’s pretty interesting, especially since it deals with months in which it’s considered home buying season here, and because it deals with more than just one month’s worth of data. So let’s get started with an April through July comparison for ’08 and ’09.

Cleveland Heights 2008:   236 homes sold. The average sale price was $130,828 and $62 a square foot.

Cleveland Heights 2009:  225 homes sold and the average selling price was $116,308 and $57 a square foot.

In ’08 there were 17 sales over $400,000 and in ’09 there were 11. Cleveland Heights is still a community with a large housing inventory for sale, but they are selling.  In ’09, the highest priced sale was for a home overlooking Shaker Lakes on North Park.  It sold for $582,000.

Bedford & Bedford Heights  2008:   76 homes sold.  The average selling price was $69,654 or $41 a square foot. 

Bedford & Bedford Heights  2009:   88 homes sold with an average sale price being $58,078 and $40  a square foot. 

In these two communities, during these two selling seasons, there was a home on Bartlett that sold for $164k, one on Columbus that sold for $137k.  And there is an Easy Street   Located in Bedford.  A house sold there for $125,000.  Most expensive sale in this area was a home on Buckthorn that sold in ’09 for $153,000.

Cleveland City/Shaker Heights Border  2008:  3 homes sold . Average of these three sales was $64,667 or $40 a square foot. 

Cleveland City/Shaker Heights Border  2009:   3 homes sold (consistent!). The average sale price was $83,933 or $41 a square foot.

In ’08 highest sale during these four months went to a $145k sale on Ardoon.  In ’09 the highest sale price was for a home on Beckett that sold for $208,000. 

Richmond Heights 2008:   38 homes sold for an average sale price of $128,184 or $66 a square foot. 

Richmond Heights 2009:   34 homes sold and the average sale price was $132,344 and $66 a square foot. 

In 2008 the highest sale price went to a bank owned home on Richmond road. The sale price was $260,000.   In 2009, the highest sale went to a home purchased on Trebisky that sold for $252,000. 

Euclid 2008:   192 homes sold.  The average sale price was $63,239 and $46 a square foot.

Euclid 2009:   226 homes sold and the average sale price was $49,951 and $35 a square foot.

During these time periods in ’09 and ’08  the key in Euclid for higher home sale prices was the phrase ‘violation free’ because Euclid has a point of sale inspection at every title transfer process.  Two examples fitting this bill: In ’08 a really pretty colonial for $99,000 on Priday Avenue and in ’09 a home on Edgecliff sold for $270,000. 

One more.  Zip Code 44110 in the City of Cleveland.  It includes the Lakeshore area. 

44110  sales in 2008:   63 homes sold for an average sale price of $21,192 and $14 a square foot.

44110 sales in 2009:  34 homes sold for an average sale price of $12,172 and $12 a square foot. 

However, this is an area close to one of our greatest natural assets: Lake Erie.  So don’t be fooled by the above figures, there higher sale prices.  For example,  $170,000 for a home sale on Overlook;  $100,000 sale on Bonniewood.  And, a $69,950 sale in ’09 on a pretty brick cape cod in Bratenahl. 

Hope you are all enjoying this weekend, and that some of this information may be useful.  Peace Out – 3C