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Plenty of Cities Have Hot ZIP Codes, Despite Economy
Population, Amenities Help Drive Sales
UPDATED: 10:58 am EDT March 23,
2009
CLEVELAND -- For sale signs are popping up in lawns like dandelions, and although many don't stay long, others seem to grow roots. Stephanie Wiersum and her husband just put their three-bedroom home on the market. The now family of 5 is looking to move up and find something more spacious. While they have the task of selling their house, it looks like they'll be in luck considering they live in a hot ZIP code, Elyria. Kerri Johnson, a Realtor with Howard Hanna, said if your address ends in 44035, you've got a hot ZIP code. More than 200 homes under $100,000 sold in Elyria last year. The reason -- they are moderately priced homes that are more affordable for families. Carl DeMusz said the Wiersum's and their realtor are in good shape, despite the economy. He's the CEO of NORMLS, Northern Ohio Regional Multiple Listing Service. He's in charge of all the stats for home sales. He said buying in a hot ZIP code is especially important is you don't plan on staying long. DeMusz said homes in higher populated areas sell faster and homes in more rural areas take longer to sell. If you're looking to buy, consider amenities like parks, restaurants and of course great schools. Also, do your research. Look at how many homes sold but remember to consider population. An area that sells 100 homes and has 20,000 people is better than an area that sells the same amount but has double the population. When looking at the NORMLS numbers for the last quarter of 2008, homes under $100,000 in the the Berea zip code were hot. Plenty of homes in the Cleveland area sold including the 44135 and 44111 ZIP codes that are popular because of the easy access to the interstate. Parma in Cuyahoga County faired very well for sellers as did Elyria in Lorain County. When you consider home prices between $100,000 and $200,000, the Heights are a great place to consider buying. Cleveland Heights, Parma Heights and North Olmsted are all selling fast. Also homes in Medina, Olmsted Falls, Twinsburg and Mentor seem to be good bets as well. Sellers there are getting 95 percent of their asking price there. In the $200,000 to $300,000 range, Rocky River continues to be a solid stay in the housing market as does Avon Lake, which has had tremendous growth in the past year. Homes priced above $300,000, are hot in the Solon ZIP code as well as Hudson. And the ZIP code that sold the most homes last quarter based on population was 44321, which is Copley in Summit County. The average selling price $213,000.You can get the MLS Market Watch Report here.
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