Cleveland Real Estate News

Let’s call this a sample of east side of Cleveland inner ring suburban home sales for the month of May.  I’m doing South Euclid, Cleveland Heights and Shaker Heights. Cleveland Heights has twice the housing inventory for sale as the other two communities but also the highest number of homes under contract.  These homes are all single family and were listed or sold through area brokerages.

South Euclid

There are 255 homes for sale currently. The average listing price of these homes is $121,146 and $78 a square foot. These 255 homes have been on the market for about 159 days.

Recent buyers have written offers that got accepted by sellers; there were 72 homes in South Euclid under contract in the month of May. The average listing price of these homes is $85,088 or $57 a square foot. (You can see a difference in what is listed for sale, and what people have decided to buy). These homes were on the market about 120 days before going under contract.

There were 39 homes sold in May. They ranged in price from $16,000 for a home on Maplegrove  to $156,500 for a home on Whitehall. The Average Listing price for these 39 homes sold was $81,014. The average sale price was $77,167 or $52 a square foot.

Cleveland Heights

There are 413 homes listed for sale currently. The average listing price of these homes is $166,467 or $75 a square foot. These single family homes have been on the market an average of 143 days.

There were 126 homes under contract in May, so these cover more recent potential sales. The average listing price for these homes is $131,155 or $62 a square foot. They have been on the market an average of 139 days before going under contract.

During May, 53 homes sold in Cleveland Heights. They ranged in price from $8,250 for a home on Yellowstone to $420,000 for a home on Slate Court. The average listing price for sold homes here was $149,242 or $69 a square foot. The average sale price was $140,318 or $65 a square foot. They were on the market about three months before selling.

Shaker Heights

There are 282 single family homes for sale in Shaker Heights. The average listing price of these homes is $332,420 or $105 a square foot.  They have been on the market about 147 days.

91 homes went under contract in Shaker – the average listing price of these homes is $242,517 or $122 a square foot. (Notice that there is close to a 100k difference in listing prices of homes buyers went after and ones still on the market, but that the price per square foot did not drop).

There were 20 sold homes in May. They ranged in price from $29,000 for a home on Lindholm to $545 for a home on Fontenay. The average listing price of the sold homes was $291,391 or $105 a square foot. The average sale price was still in the 200k’s: $249,882 or $98 a square foot.  These homes were listed for sale an average of 153 days before going into contract.

Peace Out – 3C