Cleveland Real Estate News

There have been condo sales in Downtown Cleveland but for this buying season, the Warehouse District and Public Square Area are taking a back seat to some other complexes. I’m still looking at sales and activity occurring since April of this year. This is information I gleaned from our multiple listing service so it means this is what is listed with area brokerages.

This information will also not reflect anything potential activity that might be ocurring in places like The Avenue District or other newer complexes. Some of these places could have buyers who have put in reservations for a unit (i.e., one or two thousand ‘down’) and that won’t show up until a contract is fully executed.

Having said all that, it’s interesting and kind of cool that the trend seems to have been to move a bit farther east.

There are 46 condos currently listed for sale. There are the usual suspects like Pointe at Gateway and Grand Arcade but there are also listings at: University Lofts (at Cleveland State), and a new development at 81st and Chester, near the Cleveland Clinic, and town houses at E. 101st and Superior. We know the Clinic just opened their new Heart Center so we might continue to see sales leaning towards that neck of the woods.

There are six pending sales, waiting for mortgages to clear. There is one pending Downtown at Park (140 Public Square) but the others are at Wade Park (118th and Euclid), Beacon Place and Church Square, again all near the Clinic.

Five condos have sold since April of this year. The sales include a condo at Wade Park, Beacon Place, and Woodhaven (which is at 84th and Euclid). You could have also purchased your owon ‘live work’ loft. One sold at East 40th and Payne with 7,000 sq. feet of space, three stories. It was listed for $384,900 and sold for $340k.

The average sale price for these properties was $184,114 and/or $81 a square foot. They were on the market an average of 51 days. 

We sold a Pointe at Gateway condo during this period and as we see Park Condos sold one as well. But this season, even though there were not a ton of sales, the trend was to go east, young man.

The Avenue District website is kind of fun to browse.  Here is a link  to their interactive walking tour of the neighborhood.

I did a report earlier this month on condo sales in 44113 which covers the sales of properties closer to the near west side.

Peace Out – 3C