Cleveland Real Estate News

There are five western suburbs I cover pretty regularly with my clients: Lakewood, Rocky River, Westlake, Fairview and North Olmsted. So this second part of the Three Year Comparison Stats will deal with these cities. First part, Three Year Stats for Cleveland’s West Side is here. These are single family statistics (includes non-condo town homes) between April and October 4th for 2006-2008. Per usual, these were homes listed with area brokers which is why I have access to the stats.

 

This time I found the price per square foot more interesting than the average sale prices.  And as was true for the Cleveland stats I gleaned yesterday, these homes averaged around 95 days or less on the market.  My point about ‘market time’ is that no matter how many or how few homes are selling, unless you are in a new construction subdivision, the general time frames from when a home is listed to when it sells is pretty much the same.  The key? Pricing it well.  Here are the stats:

 

Lakewood   

 

2008    258 homes sold.   The ave sale price was $112,226 and $73 a sq.foot

2007    272 homes sold.   The ave sale price was $122,935 and $84 a sq. foot.

2006    313 homes sold.   The ave sale price was $111,735 and $86 a sq.foot.

 

 

2008    130 homes sold.    The ave sale price was $237,319 and $115 a sq. foot.

2007    162 homes sold.    The ave sale price was $231,488 and $115 a sq. foot.

2006    189 homes sold.    The ave sale price was $241,528 and $119 a sq. foot.

 

 

2008    192 homes sold    The ave sale price was $247,147 and $103 a sq. foot.

2007    202 homes sold    The ave sale price was $275,618 and $116 a sq. foot.

2006    264 homes sold    The ave sale price was $280,808 and $114 a sq. foot.

 

 

2008    83 homes sold     The ave sale price was $134,711 and $88 a sq. foot.

2007    134 homes sold    The ave sale price was $148,731 and $105 a sq. foot.

2006    127 homes sold   The ave sale price was $146,713 and $105 a sq. foot.

 

 

2008   165 homes sold    The ave sale price was $128,905 and $80 a sq. foot.

2007   193 homes sold    The ave sale price was $142,543 and $88 a sq. foot.

2006   257 homes sold    The ave sale price was $143,475 and $89 a sq. foot.

 

 

 

Both today’s and yesterday’s stats show that fewer homes are selling this year than the prior two years.  We’ll see if this trend keeps up as we look at other market areas in the next week.

 

Peace Out - 3C