Cleveland Real Estate News: Yearly Comparisons For Homes Sold, Lakewood and Rocky River

I have been crazy busy this week, but promised more stats and thought this might be useful. I picked two communities with sold housing stocks and thriving business communities: Lakewood and Rocky River. These are going to be statistics of homes sold for each year 2004-2007 (again, home stats cover homes listed with area brokerages). These combine single family homes, town homes, condos; these stats cover January through August 17th of each year.

Rocky River:

2007 188 Homes Sold
Average Sale Price was $244,002

2006 194 Homes Sold
Average Sale Price was $241,095

2005 189 Homes Sold
Average Sale Price was $231,815

2004 205 Homes Sold
Average Sale Price $245,043

Lakewood:

2007 84 Homes Sold
Average Sale Price was $281,433

2006 87 Homes Sold
Average Sale Price was $255,672

2005 344 Homes Sold
Average Sale Price was $185,018

2004 327 Homes Sold
Average Sale Price was $182,533

In both communities the sale prices are higher but the numbers of homes sold are lower. Lakewood has quite a jump in average sale prices. I'll be very curious to see what the stats look like for the next six months; will the volatility in the lending market affect these communities? What about foreclosure rates? I guess we can stay tuned.

Cleveland Real Estate: The Skinny on Lakewood and Rocky River Home Sales

Six months of statistics are available for home sales in and around Cleveland so I'm going to be posting these off and on over the next week. Today it's Lakewood and Rocky River. These stats, as usual, cover homes sold by brokerages in NE Ohio. All stats cover January to the present.

Lakewood:

105 total homes sold. 66 were BR single family homes; the rest were condos. The lowest sale price was $55,000 and the highest was $223,000.

All 105 averaged 94 days on the market before selling. The average 'sold' dwelling had 3BRs, 1BA and a one car garage. Average asking price was $120,096. The average sale price was $115,574.

There are 168 Single Family Homes for sale currently in Lakewood.
There are 138 condominiums for sale.

12 homes are currently under contract and waiting for inspections and mortgages to be finalized; 36 homes are 'pending' or waiting to close.

Rocky River:

182 total homes sold since January.
137 were single family homes
45 were condominiums

They ranged in price from $127,000 to @262,000. The average ask price was @178,060 and the average sale price was $171,747. These homes were on the market an average of 88 days.

There are 4 'contingent' offers, meaning waiting for inspections and mortgage approvals.
There are 37 homes pending, or waiting to close.

Rocky River currently has 171 condos listed for sale ; 182 single family homes are listed for sale.

Still more available homes than there are buyers. Peace Out - 3C

Lakewood, Rocky River Homes/Condos Sold March 2007

It's Saturday and the end of March, so it's time for housing sales information. Here is what sold in these two communities this month:

Lakewood: 33 Single Family Homes sold between the prices of $50,000 and $855,000. The average number of days these listings were on the market was 94, or just over three months. The average Ask Price was $ $176,484 and the average Sale Price was $155,721. Average amenities? 3 Br's, 2 Baths and a 2 car garage.

10 Condominiums sold between the prices of $39,500 and $300,000. The average number of days these condos were on the market was 142 (condos take a bit longer to sell in general, especially in a city like Lakewood where there are a lot of condo complexes). The average Ask Price was $143,410 and the average Sale Price was $132,990. Average amenities? 2 Br's, 2Baths and parking/garage for one car.

Rocky River: 17 Single Family Homes sold between the prices of $137,000 and $400,000. The average number of days these homes were on the market was 96 or again, just over three months. The average Ask Price was $246,182 and the average Sale Price was $231,764. Amenities? 4 Br's, 2 Baths and a 2 car garage.

5 Condominiums sold between the prices of $55,260 and $232,000. They were on the market about 130 days. The average Ask Price was $ $134,860 and the average Sale Price was $123,152. Amenities? 2 Br's, 2 Baths and parking for one car.

Here are a few more statistics to keep in mind. It is definitely still a buyers market. What's listed for sale now?

Rocky River: 116 Single Family Homes and 109 Condominiums
Lakewood: 288 Single Family Homes and 117 Condominiums

Peace Out - 3C

Single Family Home Sales: Cleveland's West Side, Lakewood and Rocky River

It's the weekend and time for an update on home sales. This is a 'single family' home report, by zip code, for a few of our west side communities:

• Data includes homes sold through brokerages


• Data from March 1, 2007 to the present.

Rocky River 44116

1 home under contract

6 homes sold

Lakewood 44107

6 homes went under contract

17 homes sold

Cleveland's West Side 44135

1 home under contract

12 homes sold

Cleveland's West Side 44111

5 homes under contract

9 homes sold

Cleveland's West Side 44102

1 home under contract

6 homes sold

Cleveland's West Side 44113

2 homes under contract

none sold in March (yet!)

Peace Out - 3C