Cleveland Heights Ohio Year End Market Report 2010
Here is our official 2010 year in review for Cleveland Heights real estate, complete with a comparison to 2009. We will provide commentary after giving statistics on the Cleveland Heights housing market.
Sales # of Homes Sold Ave. Sales Price High Low
2010 498 $118,795 $940,000 $5500
2009 558 $104,109 $915,000 $3000
Here is a break down of all 2010 sales by specific price bands:
Selling Price Range | Quantity | Average DOM | |
$19,999 or under | 38 | 57 | |
$20,000 thru $29,999 | 57 | 66 | |
$30,000 thru $39,999 | 42 | 64 | |
$40,000 thru $49,999 | 30 | 63 | |
$50,000 thru $59,999 | 27 | 115 | |
$60,000 thru $69,999 | 11 | 100 | |
$70,000 thru $79,999 | 19 | 101 | |
$80,000 thru $89,999 | 25 | 97 | |
$90,000 thru $99,999 | 23 | 125 | |
$100,000 thru $119,999 | 32 | 102 | |
$120,000 thru $139,999 | 40 | 156 | |
$140,000 thru $159,999 | 32 | 88 | |
$160,000 thru $179,999 | 22 | 88 | |
$180,000 thru $199,999 | 18 | 88 | |
$200,000 thru $249,999 | 28 | 152 | |
$250,000 thru $299,999 | 17 | 149 | |
$300,000 thru $349,999 | 13 | 108 | |
$350,000 thru $399,999 | 10 | 139 | |
$400,000 thru $449,999 | 4 | 158 | |
$450,000 thru $499,999 | 7 | 133 | |
$500,000 thru $549,999 | 1 | 52 | |
$800,000 thru $849,999 | 1 | 127 | |
$900,000 thru $949,999 | 1 | 714 | |
498 | 100 |
Commentary - Overall, sales were down in Cleveland Heights last year over 10% compared to 2009. However, the average sales price did increase. There were still a ton of sales under $100,000, many of which were bank owned and short sales. Being an inner-ring suburb, Cleveland Heights has been hit harder with distressed properties over the last few years compared to some other area suburbs.
The Cleveland Heights luxury home market was also down this year. We saw only 3 sales above $500,000, compared to 7 in 2009.
Cleveland Heights is the area's largest suburb and is viewed as popular because of its close proximity to downtown and University Circle. Many residents and physicians who are relocating to Cleveland choose to live in Cleveland Heights as it is a fairly short drive to the local hospitals. People relocating to Cleveland from a big city are often attracted to Cleveland Heights because it offers more of a "city" or urban feel compared to other nearby suburbs.
Cleveland Heights offers a unique housing stock, filled with charm and craftsmanship not found in today's newer construction. While there are quite of few homes in the lower price points, Cleveland Heights also has a large inventory of historical housing, many valued well over $1,000,000. Many homes here are 80-100 years old, and offer a special opportunity to those who prefer this style of housing. There are also some very popular shopping locations in Cleveland Heights, including the Cedar-Fairmount area, and Coventry. For many, a visit to Cleveland Heights is a real treat, as it has something for everyone.
Moving forward, there is still a large inventory of lower-end homes, and many will be snapped up by investors to be renovated or rented out. There are great deals to be had though, making this a great time to buy a home in Cleveland Heights. We look for sales to remain similar to last year, with a slight increase in the luxury home market.
View Cleveland Heights, Ohio in a larger map
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About The Authors:
Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.
For Ohio and Cleveland Heights Oh real estate and homes see Cleveland Heights Oh Real Estate
For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235 or email.
LET'S CONNECT:
Cleveland Heights Ohio Year End Market Report 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©January, 2011
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