Northeast Ohio
Real Estate
June 9. 2023
Happy Friday!
Hope you are doing well and had a great week!

Thank you for checking out this email. If you have any questions, please don't hesitate to reach out.
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Greater Cleveland Rent Prices Reaches Double-Digit Increase over 2022
The asking price for a one-bedroom apartment in the Cleveland metro area has increased by 11.1% from a year ago while the national average has dropped by 0.1% according to data collected by Dwellsy, a rental tracking website.

The March median rent in the five-county Cleveland area of Cuyahoga, Geauga, Lake, Lorain and Medina increased to $850.
Akron metro (Summit and Portage counties) saw a larger increase at 15% with a median rent of $782.

These numbers are still below the national average of $1,275. This is also a 0.5% decrease from February.

When it comes to three-bedroom single-family homes, the median rent in the Cleveland area is $1,275, a 2% increase from last year. The median rent in Akron is $1,185, down 14.7%. Both metro areas are below the national average of $1,835, a 5.3% increase from March 2022.

Rent.com showed Cleveland had the second highest rent increase of the 50 most populous metro areas in the country.

As rent prices to climbed toward the end of 2022, with rent jumping in the Cleveland metro area by 9%, experts had warned of higher rent prices going into 2023. Experts also added that rent would slow down toward the second half of the year if home financing costs declined.

With this in mind, I have been able to help several first time buyers get out of the rental "trap" in the last few months. Who do you know that is wasting more and more money on rent monthly, and wants to start investing in their own equity by buying a home? I've love to see if I can help!
Who wants to buy a lighthouse?
Have you ever dreamed of owning a historic home where you get a view of the coast and the Cleveland skyline?

You can make those dreams come true for as low as $25,000... as long as you have a boat, are willing to take on a fixer-upper, and want to live in a lighthouse.

The Cleveland Harbor West Pierhead Lighthouse is up for auction by the government’s General Services Administration.
This piece of maritime history with a view of the Cleveland skyline is built at the entrance to Cleveland’s harbor, and is only accessible by boat.

Building the lighthouse began in 1909 and completed in 1911, and then became automated in 1965.
The U.S. Coast Guard Station was housed there until 1976.
The historical documents state there is a basement, first-floor galley, and living quarters on the second, third, and fourth floors.

The online auction opens at 11 a.m. on June 30. The bid starts at $25,000, and the bid deposit required is $10,000.

Please let me know if you're interested! We can kayak out for a showing!

Here is the link to the auction --->
LISTING OF THE WEEK
2725 Hampshire Rd Apt 1
Cleveland Heights, OH 44106

Beyond thrilled for my buyer clients who had their offer accepted for a wonderful Coventry Village condo!

This two-bedroom, one-bath unit feels fresh and updated while still featuring original details like the refinished hardwood floors that flow throughout the unit. In the front, you will find a den or office bathed in sunlight from walls of windows. Back through French doors is the spacious living room with a decorative fireplace, louvered shutters, and built-in surround sound speakers. All of this comes fully furnished- a perfect fit for my client!

Click here for the ---> LISTING LINK
Pat Barmann
216.990.5719