Staying solid
For the second straight month, the investment sales volume in the Cleveland real estate market was solid. While no one will mistake a $35 million month as a jailbreak, there were some encouraging signs. First, there was only one distressed sale. Second, the other five investment sales were varied in type, size and location. And third, several of the sales included a financing component. Individually, each of these characteristics wouldn’t amount to much and one could certainly pick apart each. But collectively, it is at least noticeable. I know, the overall year-to-date sales volume is still pathetic, amounting to just over $235 million through the first 11 months. But as we head into the final month of the year, it will be interesting to see if the momentum continues to build or fizzles. To read the November report, click here.
