Katy Dix Brahler has her finger on the pulse of what’s happening in real estate in Bay Village and Rocky River
By Patricia Nugent
In the fast-paced, unpredictable world of real estate, you don’t rise to the top and stay there for 27 years without having a keen sense of what’s next. I sat down with local Re/Max Realtor Katy Dix Brahler to catch a glimpse into her crystal ball about where the market on Cleveland’s west side—especially Bay Village and Rocky River—is headed for the remainder of 2022.
“I feel the key takeaway to what’s starting to happen now is that we are not in as frenzied a sellers’ market as we’ve been the past two years,” she explains. “While we are still seeing multiple offers, they aren’t as commonplace as they’ve been. And there’s not as much overbidding or as many cash deals.”
One of the biggest factors impacting the market in Bay Village, which is Katy’s hometown, is low inventory. Currently there are only 20 homes for sale here. And even that number is higher than the past several months, which have seen as few as 9 homes and 17 homes for sale, respectively.
To compare how low only 20 homes for sale means, on a normal inventory day in Bay Village, the MLS was averaging 114 listings. Currently Westlake offers 68 homes for sale, Rocky River, with 44 homes on the market, and Avon Lake, which totes in with 60 homes for sale.
In addition to inventory, fluctuating interest rates also directly impact the market. Currently the rate is at 5.6%. Katy feels it will hold steady for a while longer.
“Going forward throughout the rest of the year, I don’t see the rate creeping up into the 7% range,” she says. “But, then again I could be wrong because It’s difficult to gauge and it’s a slippery slope in a volatile market.”
“Now is a great time to jump into some ARM adjustable rates that are appealing to buyers instead of fixed rates,” Katy adds. “I’m also seeing more FHA and VA mortgage buyers, and it’s nice to welcome them into the mix.”
“The bottom line is that with extremely low inventory, now is still an excellent time to put your home on the market,” says Katy. “As long as it’s priced just right by a professional, it should sell quickly and for full price.”
Doing Well While Doing Good
Katy throws the same enthusiasm into her philanthropic work as she does her professional career. Over the years, she’s been recognized for her involvement with the Lymphoma Society, the Kent State University international and domestic scholarship program and Business Building philanthropic enterprise, and the Cleveland Museum of Art.
In her customary “go big or go home” modus operandi, Katy recently joined the Board of Directors at the Museum of Contemporary Art, MOCA, in downtown Cleveland.
“There’s so much going on with this cutting-edge institution,” she says. “I’m thrilled to take an active part in its leadership.”
Look for Katy to host fundraisers that support programs to get more youth involved in art.
And later this fall, she will host a fundraising event at Knuth’s in Westlake to benefit the Leukemia and Lymphoma Society.
“Each year the gracious and kind-hearted ladies at Knuth’s allow me to throw a fundraiser and donate a portion of the proceeds to a charity,” she says.
Katy’s Pick Listing of the Month
Nestled just off Lake Road, steps from Lake Erie, the home at 114 Lakeview Drive in Avon Lake is a nice example of the charming “move-in-ready” homes Katy is known for handling.
This stately three-bedroom home is meticulously renovated in a modern farmhouse esthetic, with a palette of fresh whites and pale natural woods, rolling barn doors, white quartz countertops, black matte fixtures and gray hardwood flooring throughout. Brushed gold fixtures, open shelving and sculptural ceiling fans add a splash of sophistication.
Call Katy while you can, as this gem is a bona fide steal at $339,000, and has just been reduced to $329,900.
Investing in Downtown Cleveland
The housing market in downtown Cleveland is on the grow. Realtor Katy Dix Brahler says one of the most promising new downtown neighborhoods is Irishtown Bend.
“Once the site of a 19th century Irish shantytown, this formerly deserted green space has morphed into 23 acres of lovely waterfront parkland connecting Ohio City with the Flats, as well as the Metroparks trails,” she says.
Two choice condominiums Katy is offering for sale are units #610 and #508 in the desirable Stonebridge Building.
Both boast two bedrooms, two baths and offer breathtaking views of downtown, the Cuyahoga River and Superior Bridge, through floor-to-ceiling windows, as well as spacious balconies to soak it all in.
“Hovering around the $200,000 price point—and qualifying for tax abatement—either of these condos would make a fabulous investment,” says Katy. “In the downtown market, there’s a significant overflux of rental units, and an ‘underflux’ of condos available for purchase, which continues to drive values up.”
The Stonebridge Building includes parking, an exercise facility and courtyard, which make it perfect for young working professionals and small families.
Call Katy for a tour of one of the spectacular condos, as they are soon to be going, going, gone.
Re/Max is located at 25021 Center Ridge Road in Westlake. Katy Brahler is a multi-million-dollar producer and is a distinguished member of the President’s Club and Executive Club of Re/Max. Call her cell at 440-724-4313 or visit KatyBrahler.com for more information.