Where is the Cleveland Real Estate market going in mid 2017?

This is for information purposes for any new investors or existing investors in the West Side of Cleveland. The following charts are taken directly from the MLS Mid June 2017 going back 10yrs worth of data. 

Investors can see historical data in the following Cleveland zip codes 44107 (Lakewood), 44134 (Parma), 44109 (Old Brooklyn), 44144 (Brooklyn), 44144 and 44135 (Cleveland)

Data for 44107 Lakewood

Lakewood is a B area in my books. I own in this city, have a primary residence multi-family. Fun fact, Lakewood has a point of sale and you are required to pay a $75/unit fee to obtain a rental permit. Taxes in this city are higher than Cleveland, but then look at the prices properties are selling for. Setting new record highs!

As I like to say, the deal here for any investor is you obtaining the property. Multi-families in this city are going into multiple offers in some instances. You are going to be competing against owner occupants who want to live in this area.

Data for 44134 Parma

Parma is a B area in my books. I own in this city, have a single family home. Fun fact, Parma requires investors to pay a $150/unit fee to obtain a rental permit. Taxes in this city are higher than Cleveland. It still has not reached it's all time high property prices BUT it's not far off.

Very little wiggle room between list and sale prices. The gap is closing. Right now buyers are looking at paying 96-100% of the list price.

Data for 44109 Old Brooklyn

Old Brooklyn is a C area in my books. Many investors own in this city, it has a good mix of Multi-families and single family home. Fun fact, Cleveland has a rental permit that it requires landlords to pay. Upfront, it's totally up to the investor if you choose to pay or not, but I choose to avoid getting fined and pay the small fee.

Property prices are very close their all time highs. The list and sale prices are very close. Property prices are some of the lower entry price point into the Cleveland Market. 

Data for 44144 Brooklyn/Cleveland

If you buy in Brooklyn it's a B area, but the Cleveland side is a C area. I own in this zipped, have a small apartment building. It still has not reached it's all time high property prices BUT it's not far off.

Right now, the list and sale prices are very close. Entry points are a bit more expensive as I see more home owner occupants in this zipcode. There are is also not as much Multi-Family inventory available in this zipcode.

Data for 44111 Cleveland

Cleveland is a C area in my books. I own in this city, have a single family. It has reach it's all time highs and is now on path to set new records for this zipcode. I like this zipped because its close to Lakewood. There are pockets in this Zipcode which are very nice, mostly owner occupants and would be closer to a B area, but you do need to know the area. 

Very little negotiations here as you can see from the plot. 

Data for 44135 Cleveland

Cleveland is a C area in my books. I do not own in this area, but IF I did I would buy close to Kamms Corner. It has reach it's all time highs and is now on path to set new records for this zipcode. There are pockets in this Zipcode which B areas, but you do need to know the area.

Very little negotiations here as you can see from the plot.

I hope that this helps anyone who is looking to invest in Cleveland. As you can see the market is very competitive and those that bought in the last few years have seen some good appreciation in their investments.