Usually, you would expect real estate in a big city to be quite pricey compared to surrounding areas. A Toronto condo, for example, would probably be listed at a price equal to or higher than a stand alone home in Georgetown with more square footage, due only to location.

This typical rule does not apply to a zip in Cleveland. The second largest city in Ohio has been in dire straits as far as the real estate market goes for quite some time; in fact, it was one of the few locations that did not benefit from the boom of the early 2000s. While that's not good news for sellers, it can be very good news indeed for buyers looking to get in on the Cleveland market.

Prices

Those used to Brampton real estate or that in other areas will be amazed by what they can afford in Cleveland. The average listing price of a home here today is an astounding $118,000! Even more amazing, the median price of homes for sale is actually below $60,000.

What this means for sellers is that no matter where you are moving from on the continent, you are likely to get a lot more for your dollar when you purchase a Cleveland home. It's hard to imagine an owner of Leaside real estate in Toronto not salivating at the opportunity to buy three homes in Cleveland for what they can sell their current property for!

Neighborhoods

Now, it's pretty natural to picture Cleveland in decay, what with those kinds of prices. The fact is, though, that it is a city just like any city, with some very nice neighborhoods and some that are old and quite worn down. Some of the more upscale neighborhoods include Ohio City and Edgewater, where the typical home is listed at $225,000.

Downtown Cleveland was lately one of the more run down neighborhoods, but city wide efforts at rejuvenation have begun to pay off. Although there is a perception that the downtown area has a higher proportion of crime, the redevelopment has meant that downtown Cleveland residents are as safe as they would be in a Markham home. High crime rates are more common in the poorer suburbs.

Housing stock

That rejuvenation has meant more options for those looking at real estate in Cleveland. In particular, the condo market in the city has taken a turn for the better. The waterfront area is the location of several high rise, modern condominium complexes, which command much higher prices than the average piece of Cleveland real estate.

Cleveland is a city with lots of opportunities for those willing to invest on the real estate front. Those who have Ajax homes will find that their sales mean they can purchase a lot more home here, even in upscale neighborhoods.