CLEVELAND, Ohio - The median single-family home price in Cleveland’s Edgewater, Ohio City and University neighborhoods last year topped the countywide suburban median, according to cleveland.com’s annual analysis of property sales.
However, a neighborhood-by-neighborhood look at the data again illustrates the divide in Cleveland.
Overall, Cleveland’s median price for single-family homes was $44,750 in 2018. That’s up significantly from a few years ago, but still ranks near the bottom in Cuyahoga County.
In several neighborhoods, homes are selling close to or above the Cuyahoga suburban median of $139,900. But in other places, typical prices remain below $25,000.
See sales history by neighborhood: 2007 to 2018
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Rich Exner, cleveland.com
Excluded from cleveland.com’s annual analysis tracking housing trends are sheriff’s deeds transactions and homes sold under $1,000 because they do not reflect the normal buyer’s market. In some cases, new homes sold on newly created parcels are not included because they are not flagged as single-family homes in county transfer data.
Rich Exner, cleveland.com
Top-price neighborhoods
Among neighborhoods with at least 50 sales, offering a better chance to identify trends than where there were few sales, these were the price leaders last year:
- Ohio City - $169,000 median on 81 sales.
- Edgewater - $165,000 median on 51 sales.
- Kamm's Corners - $134,450 median on 420 sales.
- Tremont - $126,500 median on 81 sales.
- Detroit-Shoreway - $125,000 on 185 sales.
University, which includes the University Circle and Little Italy areas, had the highest median of $325,000. There were just 21 sales there. However, last year’s prices on the limited sales follow a longer-term trend in the neighborhood, driven by some high-end new housing.
On the low side
Yet in a third of Cleveland's neighborhoods, the median price last year was below $25,000.
In the St. Clair-Superior area, for example, the median on 45 sales was $15,000. It was $20,000 on 71 sales in North Broadway.
The lowest median was $12,600 in Kinsman, but that is based on just 17 single-family home sales.
Rich Exner, cleveland.com
$100,000 and up
More than 1,000 homes in the city sold for at least $100,000 last year, accounting for a fifth of the single-family home sales. This included 231 deals topping $200,000 each.
In some areas, the $100,000-plus sale price was common, including 80 percent of the sales in Edgewater (41 of 51) and 79 percent of the sales in Kamm’s Corners (331 of 420).
Rich Exner, cleveland.com
Steady rise for Kamm's Corners
Kamm’s Corners on Cleveland’s far West Side offers an interesting look at sales trends in the city for two reasons.
Kamm's Corners has among the highest volume of sales year after year to offer a fair analysis of the trends. And the neighborhood is characterized by established housing, rather than rapid changes from new construction.
Prices were up last year in Kamm’s Corners for the sixth consecutive year, reaching a median of $134,450 on the 420 sales there.
Kamm's Corners prices are now higher than they were in 2007 ($121,000) before the housing bust that saw home prices drop sharply in both the city and the suburbs.
The Kamm's Corners median bottomed out at $82,000 in 2012, the cleveland.com analysis found.
Since then, the median has grown steadily, to $95,000 in 2013, $101,500 in 2014, $103,500 in 2015, $113,000 in 2016, $129,000 in 2017 and finally to $134,450 last year.
Rich Exner, cleveland.com
Neighborhood details
Note: These are the neighborhoods historically used for statistical purposes in Cleveland until 2014. The newer lines are not used here, to allow for longer-term comparisons.
Rich Exner, cleveland.com
Rich Exner, data analysis editor for cleveland.com, writes about numbers on a variety of topics. Follow on Twitter @RichExner. Find data-related stories atcleveland.com/datacentral.
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