How are Cuyahoga County Condo Sales? Part One: Tremont, Ohio City and Cleveland's Near West Side

I was cruising around on my favorite Ohio Forum, and I saw a thread talking about condos and the housing market. Someone asked how condos and homes were appreciating in price. I realized I wanted to focus on condos and find out for myself. So this is the first leg of my search, comparing condominium sales in 2005 to 2006 for the Near West Side, which includes Tremont and Ohio City. There are quite a few condo complexes to choose from in this part of Cleveland. So let's get started.

2005 : 95 Condos Sold. Sale prices were all over the map: $14,000 to $499,900. How long did it take for these condos to sell? An average of 212 days. The Average Ask Price was $242,338 and the Average Sale Price was $238,836. On average, the condos that sold in 2005 had 1444 Sq. Ft., 2 BRs, 2 baths and a one car garage. Next?

2006: 52 Condos Sold. Again, sales prices were all over the map: $25,325 to $459,740. How long did it take for these condos to sell? An average of 151 days (fewer sold, but the ones that did were on the market for a shorter time). The Average Ask Price was $213,663. The Average Sale Price was $213,515. Your eyes are not deceiving you, that is just barely $100 difference between the average price the sellers wanted and the price the buyers paid. On average, the condos that sold had 1374 Sq. Ft., 2BRs, 2 baths and a two car garage.

***The average price per square foot in 2005 was $178/Sq. Ft. And in 2006, $156/Sq. Ft.

Want to buy a condo in this area? There are 120 for sale right now. Peace Out - 3C

(photo courtesy of OhioCity.com website)

Here's Luther Vandross Serenading A House Is Not A Home

Good 'Read' About Tremont

When I lived in Rockville Maryland I volunteered to put together a newsletter for my neighborhood. We were big on civic associations in Rockville, and they were not like homeowners associations. Most neighborhoods in my city had a civic group. We were called the Twinbrook Citizens Association(TCA), with about 1500 homes, a yearly party, lots of attendance at planning commission and council meetings, and monthly meetings. Here in Cleveland, if you are paying a monthly homeowners or condo fee, you have regularly scheduled meetings. But Tremont comes the closest to my experience in Maryland. They have block clubs, very active ones. I just read the best neighborhood newsletter I have read in years. which is what prompted me to write this blog. My shout out goes to the Tremont West Development Corporation(TWDC) for this 12 page newsletter, pointing out new businesses, restaurants, events, a yearly round up, updates on the Christmas Story House, reminders of Block Club and TWDC meetings. Tremont is a great model for neighborhoods around the City. The newsletter shows why it's such a coveted place to live. If you read the newsletter you might just feel the energy coming through the pages like I did. Peace Out - 3C

TGIF Once a Month: Tremont Art Walk February 9th 6 to 10 PM

Yes it's cold out, but no reason to stay home and sulk! The Tremont Art Walk goes on in rain, snow, cold and oh yeah, in good weather as well. It's a blast, there is creative exciting art to see (for example, check out the Brandt Galleries). And for good food, Lucky's at Professor and Starkweather or Edison's Pub on Professor. No shortage of food and art. Held every 2nd Friday of the month, with many galleries to view and fun eating and libation establishments to visit. Bergen Village is one of the stops and we are hosting fabulous photographer Robert L. Stockham on February 9th. In Robert's words, he is featuring work that involves a 'silver emulsion process on canvas' and you can see an example of this work here. I know Robert from his black and white and color photographs of (mostly) gorgeous Cleveland architecture, bridges and landscapes. His exhibit called Cityview at our Ohio City Howard Hanna Smythe Cramer Office is just that, city views of Cleveland, housed appropriately near the West Side Market at 1903 W. 25th Street. Stop in between 9 and 6 - they are gorgeous. He can also be found in historic downtown Berea at the Book and Bean (where you can have great coffee too). At both of these locations you will see beautiful quality photographs; in order to see the Works on Canvas, you have to stop by Bergen Village, West Fifth and Literary at Tremont Ridge on February 9th between 6PM and 10PM.
Peace Out-3C