Jefferson West Park Recent Real Estate Stats

I’m going with the most recent information for the most part, and for a reason. For about 5 years Jefferson’s ‘selling’ season seemed to end around June 30th. But 2017 activity and sales in the Jefferson area of West Park are showing me that the ‘selling season’ has not stopped. In fact it’s still going pretty strong this 2nd week of August.

For those not familiar with it: Jefferson is an area with parks. Jefferson Park, which is on Lorain avenue between W. 132nd and W. 133rd. It’s about the size (and shape) of Lincoln Park in Tremont. A little over 3 acres. There are also tennis courts, a play ground and basketball courts.

Mohican Park is north of Lorain Avenue.  It borders Triskett between W. 140th and Berea Road. It’s larger, suitable for running, biking or walking on the outer trail which is just around 3/4 of a mile. The whole park has a bit over 7 acres of land.  Playground, ball fields and soccer games, both scheduled and extemporaneous. It’s fun to see kids walking to the park to enjoy it.  Life for a kid was meant to be that way!

So when you find yourself at either of these parks you will be in Jefferson!

Housing info for Jefferson…

There are 12 homes waiting for inspections to be done or loans to be approved, so they are ‘contingent’ and under contract.  There are 17 homes ‘pending sale’ so farther along in the process but still not filed at the court house. For both of the above stats, we don’t know sale prices until they file/transfer ownership. So 29 homes, within the last two weeks mind you, have gone under contract or changed contract status. That is how we can determine the most recent activity.

The best news? In the last three months, 56 homes have already sold. Examples: 3451 W. 136th sold for $99,500 (it was listed at $109,000). 3788 W. 139th sold for $95,000 and that was it’s list price.

The average minimum square feet for a sold home among these 56 houses was 888 sq. feet; the maximum square footage for a sold home was 2,485 sq. ft.  The average square footage (not all that surprising for the area unless you’ve added on or finished an attic or basement) was 1,312 sq. ft of living space.

The highest sale price was for a home on Warren Road. It sold  for $192,000. There was also a home sold on W. 140th for $162,500.

And yes, we still have foreclosures so the lowest sale price was $20,000.  What’s nice though: appraisers have adjusted over the years (!) so market value homes, not foreclosures, are more normally used to determine the appraised value for a loan.

The average sale price for the 56 homes sold in the last three months was $81,960.

One other interesting fact: The number of days on the market, on average, for all these homes prior to their going under contract and waiting to transfer ownership? 62 days.

 

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