Cleveland Real Estate News

I have two homes listed in this area. Both make me very happy to be the lister. One is a gorgeously renovated arts a& rafts bungalow with a fab retro basement, beautifully finished with whimsical chalk board features. Great architectural detail added by my talented seller that matches the original detailing. It’s listed at $125,000 and you can see more on it’s web page here.  The second is a lovingly and responsibly kept up bungalow with all the expensive updates done. My seller loved her home and it shows. This one is listed at $67,900.  Pretty hardwood floors, a fire place, clean as a whistle basement, three bedrooms, including a large 2nd level room. You can get more details from it’s web page here.

So today I scoured the stats and photos and listings in Old Brooklyn to see what has appealed to buyers and what is listed for sale. One thing is clear: updated is prime factor if it sold.  And if not updated, then clean as a whistle is second most important factor.

Here are some details, and I’m dividing it up between 44109 and 44144.

44109  There are 137 active listings. Notice this is not 300 listings, so the inventory is not overly high. The average listing price in this zip code is $90,492 or $69 a square foot.

Homes buyers have recently begun purchasing (pending/contingent) 34 homes. We don’t yet know what the sale prices will be, but the average listing prices on these homes is $69,948 and $63 a square foot.

Just for kicks, I’m going to be highlighting the higher priced sales, because Old Brooklyn is enough of a destination purchase that homes are selling in price ranges other than $50k.  For example, nine homes under contract now in 44109 had listing prices $90k or above.

One is listed at $149,500, a 2,000 square foot home in the Spring Rd area.

One is listed at $125,000. It’s a brick bungalow with 3BRs and 2 full baths in south hills.

One is Listed at $104,900.  It’s also a brick bungalow with 1,209 sq feet of living space, 3 brs and 2 full baths, near Lowe Park (which is where my Oak Park listing is located; what a fabulous park!)

What sold in 44109 in the last six months?

106 homes!  The average sale price was $66,476 OR $44 a square foot.

19 of these sold homes sold for more than $90,000. In fact, most were over $100k.

A newer cape cod on Marcie sold for $146,000.  A brick ranch on Andrea (just off Schaaf) sold for $122,500.

An arts and crafts bungalow on Wetzel sold for $101,500.

What all these homes had in common were move in condition and/or updating.

44144   There are 56 single family homes listed in this zip code (and by the way, all these stats are for homes listed with brokerages and all are single family stats).  Again, not a huge amount of inventory. The average listing price is $89,002 or $71 a square foot.

Recent buyers have written and gotten contracts accepted on 24 homes. Again, we don’t yet know the selling prices, but the average listing price is $77,433 or $56 a square foot.  Five of these homes were listed at over $80k.

One Ranch home on W. 58th listed  for $89,500.  This home was clean, well kept, had a finished basement (another popular feature of homes selling this season).  But the basement was not updated, just clean and totally useable.

An arts and crafts bungalow east of Ridge listed for $99,500. It has 3BRs, one full and two half baths and a finished basement.

A W. 49th bungalow listed at $89,900 It has a two car garage, a finished basement and is clean as a whistle.

What sold?  59 single family homes sold in 44144 in the last six months. 12 of these sold for over $90,000.

A colonial on W. 49th, southof Memphis with 4 BRs, 1 1/2 baths, and 1,543 sq feet of living space sold for $103,000.

A large brick bungalow on Fulton sold for $95,000. It has a fireplace and a finished basement is clean as a whistle (my buzz phrase for the day, apparently!) and not overly updated.

A colonial on Dellbank (always a popular street for buyers) sold for $124,000.

And guess what, a gorgeous, totally tricked out home on Brookside with over 2500 square feet of living space sold for over $200,000.

So what will I tell my sellers and what do I glean from all this? You can sell your home if you do a few things.  One, clean it! Make sure it’s totally clean. Even if you have to pay someone to do this, it’s money well spent.  Finished basements are important, especially if square footage is not huge. So if you have the wherewithal, (is that a real word?) finish your basement.  Oh and by the way, clean it too!

I also think so much media attention is focused on homes inexpensive foreclosed homes, we might lose track of the fact that homes are still selling  at a much higher price.  Most of my clients are still first time home buyers.  I have just listed the Oak Park home and have two showings scheduled. My Ardmore home is going to be held open next Sunday.  If you live in Old Brooklyn you know how great the community is, so please pass on the information about recent data. I hope this was all a bit useful.  peace out – 3C