Cleveland Real Estate News

Doing these in order of who has requested info – last night I started out with Pepper Pike and now we go west young men to Lakewood. Per usual, these stats cover sales listed with area brokerages which is why I have access to the stats. I am only doing single family homes for this post.

There are currently 182 Single Family Homes listed for sale. Their average listing price is $213,161.  Keep this stat in the back of your head as we see what recent listings have gone under contract.

Pretty active in Lakewood as there are currently 50 homes pending or contingent sales, meaning, waiting to transfer title and in one form or another of the closing process. So of these 50 homes under contract, what was the average listing price for them? $104,164. Similar to my findings in Pepper Pike, there is a rather substantial difference in what the average listing price is and the price of the homes under contract.

In last six months, 111 homes have sold in Lakewood. The lowest priced sale was $1,250 for a home listed at $155,000. Yes, similar again to the lowest sale price in Pepper Pike. (just a note: this pretty, renovated home on Lincoln says it sold — so I am going to double check when I get into the office today that somehow a rental or two is showing up as a sale. Taken at face value, this is a sale).

The highest valued sale in last six months was for a 5BR home on Lake Avenue that listed for $575,000 and sold for $510,000. 

The average listing price for sold homes in Lakewood in last six months was $110,533.  The average sale price was $102,774.  Both the sale and listing prices came to $60/sq ft sale price on average.  These homes sold after being on the market an average of 137 days.

Since I have the stats, over the last month 18 single family homes sold in Lakewood. The average listing price was $92,649 and the average sale price was $89,954. They were on the market about three months before selling.

Peace out – 3C