What’s The Skinny on Housing Sales This 2017 Season In Kamm’s Corners?

Cleveland is divided into development corporation neighborhoods. There are over 30 neighborhoods, in a broad sense, within the City of Cleveland. The home stats I’m going to be discussing are under the auspices of Kamm’s Corner Development Corporation. Kamms is located at the northwestern end of the Cleveland. For those of you reading this who are not in Ohio currently, Kamm’s western border is Fairview Park and Fairview Hospital (which is part of The Cleveland Clinic) employees, among many others, enjoy living in Kamm’s.  Kamm’s Plaza for shopping, very close to the entrance of the Cleveland Metroparks, easy access to Big Met for golfing and just a general nice place to live.  Added good weather bonus: Kamm’s Farmers Market and every year,  The Hooley ! It’s so popular now, thousands of people come to enjoy the festivities.

How much would it cost you to live here and take advantage of all of the above and more? Prices, like most other neighborhood housing markets, are all over the map. Let’s examine the most popular purchases of late.

One thing has been true since I started in this business almost 15 years ago: Every time I do one of these analyses, I notice that 95% of the homes have shiny wood floors and have been nicely cleaned up for showings. Definitely worth remembering if you are thinking of selling your home!

What’s happening with housing in Kamms 2017? It’s barely the beginning of August so we are still in the traditional home buying season. Let’s start with stats which are most current:

The Past Ten Days  Yes, let’s start there because it’s the most current information.  8 homes had activity during the past ten days. Four homes went under contract and are listed as ‘contingent.’ This means the buyers and sellers agreed on a price, went under official contract and are now waiting for either a mortgage loan commitment or an inspection result and agreement, or both. Initial stages of the contract. These four homes averaged 2 bedrooms, 1 bathroom, were built between 1940 and 1951. They averaged about 1200 sq. ft. of living space. Their listing prices (we don’t know final sale prices till they change ownership) were: $55k, $94,900, $129,900 and $137,500. Each of the four was on the market less than 45 days prior to going under contract.

There is one house listed as ‘pending sale’ which means it’s not waiting for a loan commitment or an inspection. It’s either been through the ‘contingency’ phase already or it was a cash purchase without an inspection. This home is listed for $63,000 and has 1,120 sq ft and 3 bedrooms/one bath. It was only on the market for 9 days before it went under contract.

Three homes closed, sold or transferred ownership at the courthouse, whichever way you want to look at it! I sold a home on Ferndale. The sale price was $117,500. It has 4 bedrooms, 2 full baths, a fenced yard, is a brick bungalow and sold a bit less than it could have due to it needing a more updated kitchen.  It was on the market for 86 days before we had an agreed upon contract between buyer and seller. One home sold on W. 142nd St for $143,000. This home has 3 bedrooms, 2 1/2 baths 1617 sq. ft. of living space. It was on the market for 46 days before being under contract.  The third one sold is on Edgecliff Ave. It sold for $169,833. It has 4 bedrooms, 3 1/2 baths, 2,468 sq. ft. of living space and was on the market just over two months.

How about the past three months? Pretty active time! 141 homes sold with the maximum sale price of $281,000 for a home on Scullin Drive. One of the most important stats, since it covers 90 days, is how many days on the market (DOM) were these homes listed before they had an offer accepted by both buyer and seller?  Average days on the market was 51 days.

Kamm’s is close to the City of Lakewood border, 10 minutes to Edgewater Park,  walking distance from most places to bus or rapid transit service,

15 minutes to Downtown Cleveland by car and 10-15 minutes from Cleveland Hopkins Airport. Last but not least, Kamm’s Plaza  It has a grocer, hardware store, Red Lantern (my favorite neighborhood place to eat, yes I live close by!) one of the last shoe repair places you can find in the Cleveland area and is only five minutes east of Weber’s Ice Cream shop… Important detail I think ☺

 

 

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