Saturday, February 24, 2007

Cuyahoga County Condo Sales: Shaker Heights Condos Sold

Today was inspection day on a home sale in Shaker Heights. My clients are moving here from another State to accept jobs at Case Western Reserve and that alone makes me happy - it's great when people relocate to the Cleveland area. Anyway, the inspection took a few hours, as usual. The inspector does two things that are really important when you buy a home. 1. Look for any major issues and 2. help with his/her expertise on how to maintain your furnace and other mechanicals. My clients are first time home buyers so it's always good to learn how to keep things running well to keep from having repair costs in the future. ASHI (American Society of Home Inspectors) inspectors have a lot of knowledge under their belts - this inspector was no exception.

Anyway, tooling around Shaker is always fun, it's a gorgeous City. So I decided it's time to continue the condominium market trends discussion with results in Shaker Heights condominium sales for 2006 - comparing them to 2005 sales. Here is what I came up with: condo sales held steady both years. Here are the results:

2005: 65 condo sales and they were on the market an average of 97 days, or just over three months. Sales ranged from $117,144 for an efficiency condo to $699,167 for a 3 BR, 2 1/2 Bath condo on South Park Blvd. The average Ask Price was $121,926 and the Average Sale Price was $117,144.

2006 to Present: 66 condo sales from $19,900 to $596,900. Most of these condos were also on the market for just over three months (an average of 93 days) The Average Ask Price was $ $152,890 and the Average Sale Price was $145,328.

For both years, the average sale was for 2BR/2Bath condos with 1 car garages. I've talked with Realtors® from other states and they said their condominium sales were doing well - I'm inclined to agree with them as far as these Shaker Heights results are concerned. For information on current condominiums on the market, check out my website. (There are 82 condos available right now in Shaker). (Photo courtesy of Shaker City website. Peace Out - 3C

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