Cleveland Real Estate News

I picked four communities, two West side, two East side to start out. (More posts to follow) This time I am including single family homes (meaning condos as well) and multi-family homes (meaning doubles, duplexes, three and four family homes). The drill: these homes are listed with area brokers so they show up on my computer listing service, the MLS Tempo Five System (which used to be called NORMLS, don’t ask lol).  Today we’re looking at Lakewood, Rocky River, Cleveland Heights and ‘City of Cleveland’ section of Shaker Heights.  The ‘sold’ figures reflect homes sold since January 1, 2008.

Cleveland Heights

There are 634 single family homes for sale (yes that is quite a bit of inventory).

59 single family homes have sold.

62 multi-family homes are currently for sale.

3 sold (two doubles and one three family home)

Cleveland City Shaker Heights

There are 39 single family homes for sale.

Two homes sold since January 1st; one is a condo on Shaker Blvd. and one is a 3BR/2bath home on Keswick.

There are three doubles listed for sale

There have been no closed multi-family sales in the Cleveland section of Shaker Heights since January 1st, but there is one pending sale (a double).

Just a note: technically, a ‘double’ is a two family home with units up and down. A ‘duplex’ is a side-by-side two family home. This is at least the norm for descriptions in our area. However, I usually notice more 2-family homes listed as duplexes by East side agents when the units are really ‘up and down’ homes. West side agents sometimes do this too but more traditionally we divide it up as I have described.  No matter, at least you can tell if it was a two, three or four family home lol. And yes I wish it was more consistent.

Lakewood

There are 372 single family homes for sale.

40 have sold since January 1st

There are 152 multi-family homes for sale. Most all are doubles or duplexes.

13 two family homes sold and 3 three family homes sold since January 1st.  

Rocky River

There are 224 single family homes for sale

24 single family homes sold

There are 2 doubles listed for sale

There have been no closed sales this year but one duplex is pending sale, meaning waiting to close. The inventory of existing two to four family homes in Rocky River is a lot smaller than Lakewood or Cleveland Heights. It’s not surprising that this community has so few multi-family sales.

A bit more about multi-family homes.  The way Ohio laws are written, a multi-family home is anything between a two family and a four family.  Anything larger than that is listed under commercial sales.  Peace Out – 3C