I have a couple readers and now a call in from today for information on what has been the status of home sale activity in South Euclid. So, let’s see what the figures tell us.
First off, there are 118 total homes for sale in South Euclid as of today. Since March, 106 homes have sold, ranging in price from $22,100 to $161,482. Which averages out to about $44 a square foot for these sold homes. They were on the market an average of 83 days.
There are also 18 homes under contract as of now. Eight are contingent sales with loans and inspections needing to be approved. 10 are pending sales or waiting for title to transfer.
Let’s look a little closer. I decided to focus on what the ‘average’ sales tell me. What is available right now in South Euclid with at least 1300 square feet of living space, three bedrooms, and at least a one car garage? Asking this question, I find 37 homes. The average listing price for these 37 homes is $105,673 or $66 a square foot.
What type of home and at what price? Let’s look at a few samples.
How about a 3 bedroom colonial on Maplegrove (near Belvoir). This home needs some work but, it was built in 1920, has just over 1300 sq. feet of living space, does have newer windows. It’s bank owned, and it’s asking price is $20,000. Makes having to do renovations sound affordable, no?
Then there is a 1946 built colonial on Maywood for sale for $168,000. It has four bedrooms, two baths, a/c and a bunch of updates and built-ins. It has lots of square footage too (2,800 sq. ft.).
Maybe you like bungalows (I know I do). You can buy one off Green Road on Tamalga with 1,836 sq. ft. of living space, three bedrooms, two baths, a/c, lots of extra finished spaces like a room over the garage and on the lower level. There is a first floor master suite and a first floor laundry room. This home is selling for $135,000.
For $108,500 you can buy a 1948 built brick bungalow on Antisdale. It has over 1500 sq. feet of living space, four bedrooms, one and one half baths, a newer roof, mechanicals.
Just in case you were wondering, I checked on interest rates today too. They are hovering between 5 1/4 and 5 3/5 % (depending on your borrowing circumstances) — so if you are looking to buy the home prices and interest rates are certainly in your favor. And as you can see, your money can buy you a wide range of homes with good sized living spaces in South Euclid.
Hope you are all staying warm! Peace Out – 3C
6 responses so far ↓
1 Shawn // Dec 27, 2008 at 4:09 pm
Good news. I hope to sell my 3 bedroom home in South Euclid sometime in the next 1-2 years.
2 Carole Cohen // Dec 27, 2008 at 10:07 pm
Shawn, I hope that doesn’t mean you are leaving NE Ohio! Interest rates, they say , are lower than they have been in 50 yrs so it’s a catch-22 — wait until the market improves a bit to sell it or try it sooner while interest rates are wonderful. I kind of lean towards recommending you hold out for at least a year. Thanks for reading!
3 Shawn // Dec 28, 2008 at 4:55 pm
I’ll probably be here for at least a year. This gives me time to continue redecorating. Speaking of which, do prospective homebuyers like hardwood floors? I have them but they’re covered with carpet. I’m not sure if I should replace the carpet or refinish the wood floors.
4 Carole Cohen // Dec 28, 2008 at 7:10 pm
Hardwood is preferred these days, Shawn, so if I were you that is what I would do.
5 Tom Bocian // Dec 28, 2008 at 7:36 pm
Do you know where I can find a complete listing of all the homes sold in South Euclid? Please let me know.
6 Carole Cohen // Dec 28, 2008 at 7:45 pm
I could send you a link to all of them through your email. I’ll do that for now (it will list every home sold and their addresses). The sites you can utilize to see homes don’t show the ones sold.
Leave a Comment