Cuyahoga County Real Estate Sale For June 2007 - Includes Ohio City and Tremont

I have no idea how we have managed to already find ourselves at the end of June, but so be it. Sales in zip code 44113 are still intriguing; condos and town homes are continuing to be the top picks in this zip code. Here is what happened in June:

16 Properties had 'activity.' 3 of them are contingent, meaning they went under contract and have not closed yet. Of these three, all are attached dwellings (condos or town homes). The asking price for these three homes was $161,104, $184,900 & $204,750. (We won't know the sale prices until they close).

13 Properties Sold. 3 of them were single family homes. 10 of them were Condos/Town Homes. The Average Ask Price was $184,115 and the Average Sale Price was $179,408. The average price per square foot was $99. Again, since only three of these properties were single family homes, the average sale was for a 2 BR, 2BA unit with 2,272 square feet. And a two car garage.

There are a total of 174 homes on the market in zip code 44113. The breakdown is 92 single family homes and 82 condos. Some of the other stats interest me as well.

Of the 13 homes sold, none were sold for more $225k so I used that as a benchmark to do some sleuthing. There are currently 97 homes on for sale here with an asking price higher than $225k. I talk to myself (well I'm the only one here) and ask if maybe the price points are a tad high for the pocketbooks? Look at the average stats on these 97 homes listed for more than 225k:

Days on The Market: The 13 homes sold still averaged a bit more than three months. That's it. These homes have an average of 264 days on the market. And they are not sold yet. Most of these are gorgeous new construction homes so that explains a bit about this next stat, but still: there are some that have been on the market for more than 500 days.

The average cost per square foot on the sold homes was $99 yes? Well these homes average $182 a square foot. And the average square footage is 1,932, when the homes that sold for less money averaged over 2,000 square feet of space per home. My new mantra is lower price points please. Peace Out - 3C

National and Cleveland May Home Sale Statistics + New Tax Abatement in Shaker

May is one of those 'go to' months when predictors well, start predicting based on first quarter results and May is a big real estate sales month. This Market Watch report talks about the high inventory of homes on the market Nationwide, but also talks about May sales being stronger than expected.

Just a Cleveland stat: during the month of May, 157 homes and condos sold in all west side Cleveland areas (these stats reflect sales listed with brokerages). Here is a comparison for sales in May in all of these areas for other years:

May 2006 = 164
May 2005 = 151
May 2004 = 185
May 2003 = 155

Peace Out - 3C


As an aside, the City of Shaker Heights applied with the State of Ohio to offer tax abatement. You can look on the City website here and get the details.

Cuyahoga County Home Sale Stats: 2006 vs. 20007

They are running the Indy 500 this weekend so I thought I'd do a few posts putting 2006 stats against 2007 stats. I'm reporting on brokerage sales - January to May 27 2007 and the same period of time in 2006.

In Lakewood, 2007 sale prices beat 2006 by a few thousand; homes had to stay on the market about twenty days longer to sell. Total sales however? 2006 was higher. Here are the stats:

2007: 121 Total SF sales. Average Ask Price $172,852. Average Sale Price $165,655. On market 92 days.

2006: 132 sales. Average Ask Price $168,053. Average Sale Price $162,227. On market 71 days.


West Side of Cleveland (large area, includes Tremont and OC but also Clark/Metro Area). This area was the opposite, there were more sales in 2006 but the 2007 sale prices were a bit higher. Here are the stats:

2007: 150 Total SF sales. The average Ask Price was $81,133. The average Sale Price was $78,469. Number of days on the market averaged 92.

2006: 185 Total SF sales. The average Ask Price was $74,455. The average Sale Price was $71,442. Days on market averaged 81.

Since there are a lot of condos in 44113, I'm going to break that zip code out of the above figures and just do that zip code. This is for Ohio City and Tremont. First, single family sales;

2007: 30 Total SF homes sold. The average Ask Price was $205,109. The average Sale Price was $204,728. Average days on the market for these homes was 103.

2006: 23 Total SF homes sold. The average Ask Price was $178,628 and the average Sale Price was $173,454. Less days on the market, on average, in 2006: 71 days.

Condos in 44113? Here goes:

2007: 12 Sold Average Ask Price was $259,349. Average Sale Price was $246,175. Look at the days on the market - 205 days.

2006: 19 Sold. Average Ask Price was $224,484 and average Sale Price was $225,038. Fewer average days on the market: 174 days.

Peace Out - 3C