Affordability and quality of living are key factors to why home sales are up in Cleveland. You basically have everything in Cleveland that you have anywhere else.
Lake Erie, Shopping, Excellent dining, Modern facilities, and so much more. The Cleveland area is building everywhere with new stores coming in all the time. For example Menards built multiple stores in the Cleveland metro area in 2019.
The cost of living is crazy low and the areas are very quality and have all the amenities also. With the low interest rates buyers are trying to get their dream homes and empty nesters are downsizing. Imagine playing 18 holes of golf on a PGA type course for under $50...You can do that in Cleveland.
Job market in Cleveland is solid with a ton of white and blue collar jobs for people to work at. Their software allows buyers to work from Home. Amazon has built to huge warehouses in Cleveland Metro that has created 1000's of very good paying jobs. There are also a lot of software companies moving to Cleveland including https://www.buyerquest.com/ that allows people to work from home.
Prices on homes will continue to go north because of the lack of inventory. It will take some time for builders to build enough homes to satisfy buyers needs. 2006-2016 there were basically no medium prices homes being built because of all the regulations, Fast forward to today and you see many new buildings going up and people working.
All this means that the economy is strong and Cleveland is on of the best places to live compared to all other higher cost areas. Investors love Cleveland metro as long as their properties are in cities around Cleveland that attract quality tenants.
Want financial freedom? Think Cleveland
Need Real Estate? We get it done for our clients. Call me I'm Brett 216-703-5740 ICON Agent 2 years in a Row with EXP Realty Ohio
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Thank you