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South Euclid was one of the communities many of my fellow grad school students at Ursuline College either already lived in or aspired to live in. If they are still looking to do so, this would be a good year to start hitting the open houses. These are statistics for sales in South Euclid for the first four months of 2008. These homes were all listed by area brokerages.
There are 370 homes currently listed for sale in South Euclid.
16 homes are contingent, or waiting for inspections and mortgages to be completed. 53 homes are pending sale, or waiting for title to transfer. That means 69 homes are currently under contract.
82 homes have sold since January 1st (30 closed in April). I scanned through the first thirty and most of them were bank owned (not all but most). Stats on these 82: The Average Sale Price was $78,384 and $46 a square foot. The average number of days these homes were on the market was 109. The average amenities were 3BRs, one bath and a two car garage.
The highest sale was for a 2,226 sq ft 1968 built home on Hillrock that sold for $190,000. The lowest sale was for a 2BR 2BA home on Ardmore for $6,200. (No, I did not forget a zero.)
This is poignant. You could have bought a pretty home on Temblethurst, a 1952 built cape cod. It has 1,535 square feet of living space with a deep yard (230 feet). It even has an attached greenhouse. It sold for $78,000. Callahan’s Diary posts a lot about Deutsche Bank. This home was sold by Deutsche Bank. This sale price is less than half of what it sold for in 1992.
2 responses so far ↓
1 Henry Reardon // May 8, 2008 at 7:07 am
Do you have numbers for the REO properties? Also – don’t forget that SE has seen a flood of auctions lately. I know of at least five homes that will be auctioned off between the 9th and 15th of May that are in SE. I assume those homes don’t get counted in the stats until the sales close, correct?
2 Carole Cohen // May 8, 2008 at 10:00 am
Hi Henry you are correct, the stats for the auction sales don’t show up in my report in general and even when they sell they don’t show up here, since most of the auctions are not listed on MLS/NORMLS. What does happen frequently is that the bank winds up owning the home after an auction is over and then it winds up (after 45 days or so) getting listed with a brokerage as a bank owned. So some of the bank owned homes listed now have technically been in limbo for quite some time.
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