The State of the Market for Buyers in Cleveland OH

Is it still a buyer’s market today in Cleveland?

As experts in the Cleveland real estate market, we get asked this question a lot.

The answer isn’t as simple as yes or no.

First off, it really depends on the property type and location.

Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.

Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.

But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Cleveland, but seem to be rebounding as the rental market increases.

Investment properties are in demand. The massive amounts of foreign cash flooding in to invest in US real estate have impacted the Mentor market in unique ways.

Overall, those people in a position to pay cash for properties have been picking up the good deals in the marketplace.

Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t pencil out.

Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow, although it’s getting better than it was just a couple of years ago.

Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle.

Sound confusing? It is. But We Can Help.

There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once.

We’re investing in Cleveland because we believe in the community and the people here.

If you need to sell a property near Cleveland, we can help you.

We buy properties like yours from people who need to sell fast.

Give us a call anytime (440) 209-1563 or fill out the form 
over here today if you’re looking to sell a Cleveland house fast!

About davidhelmick

My passion, Real Estate. My past includes nine years asa mortgage broker and Real Estate Investor. My business model is simple. To provide Real Estate to those who long for the solid returns the market or other investments are now failing to do. At the same time, I seek out Real Estate owners who struggle to find a buyer for their property. By bringing both the Investor and Real Estate together, a solution takes place. When I'm not working, I can generally be found outdoors. My passion is biking and a solid game of hoops. While living in the Cleveland area, which provides all four seasons, I have purchased an indoor bike trainer which I ride while watching warm events. Specialties: Action
No comments yet.

Leave a Reply