Cleveland Real Estate News

I’ve had discussions with Realtor® buddies from around the States and asked if they have a condo season.  Most said no, although Florida and California weighed in with a ‘yes.’  I don’t know if other agents here feel there is a condo season, but I do…..just based on buyer trends in my personal business since I started in 2003.  It seems that condo buyers appear more frequently for me starting on July 5th.  This year has been no exception.  That doesn’t mean they all buy, which leads me to the stats so far in 2010. 

One note: some sales are single family town homes, so they won’t show up in this analysis.  But they still count as housing sales in these communities – and admittedly, there are fewer town homes downtown than condos (to say the least!)

Anyway, how are sales stacking up so far?

Since January, 17 condos have sold between West 10th (just east of the Superior Bridge) and University Circle/Little Italy. 

The average sale price for these 17 homes is $283,173 and $190/square foot.  What sold?

Riverbend (that west 10Th address) is represented with a fabulous one bedroom  sale.  And I do mean fabulous, over and above your normal one bedroom one bath unit there (it’s a great building and I’ve sold and listed a few in it)

Point at Gateway at 750 Prospect (near the Gund….no LBJ comments please!)

Random Road had a few sales, not just one (Little Italy).

Grand Arcade, Warehouse District on St. Clair

Beacon Place (near the Clinic at E. 82nd Street)

Circle 118 (univ. circle) had several sales, it’s a gorgeous newer development with amazing floor plans and finishes.

Joshua Hall (a gem  on Prospect with only  a few units, built out by Korfant and Mazzonewho normally do commercial only.  It was nice to have them venture into residential, they did a fabulous job on this smaller building with a handful of loft style/exposed brick units and wonderful rooftop decks.   I sold one there this summer)  Korfant and Mazzone do a great job renovating and yet preserving the architectural character of the neighborhoods in which they purchase.

Villa Carabelli in Little Italy

Pinnacle on Lakeside.  (with more than one sale, so anyone who says luxury condos are not selling, think again!)

The part you may find interesting (I know I do) is the growth in Fairfax and University Circle.  It’s definitely another Cleveland success story.  And I love that it’s happening on the East side.  The 17 sales are pretty evenly divided between the already existing places downtown and in the warehouse district, and the newer homes in The Circle and Fairfax.  Good stuff.

Moving to Cleveland?

You can read about the 1000 new homes on University Circle’s Development Co website here.

You can read about the Fairfax neighborhood’s development in an older article on EcoCity Cleveland  here.

Housing isn’t just about buying a place, is it?  Michelle Jarboe of the PD wrote an article about a week ago on new University Circle apartments planned.   And there is a cool map to help any out of towners with locations.

Peace Out – 3C

140 Public Square, one sale, great view of Public Square and