Solon Real Estate- Monthly Marketing Report January 2009

Solon Real Estate – Monthly Marketing Report January 2009

 

January was one of the snowiest months in Cleveland history as we received over 40″ of snow. In addition, temperatures plummeted to a near record low of -13 in the middle of the month.

Despite the weather, the Solon real estate market fared pretty well. Specifically, 9 homes officially sold last month compared with 13 sales in January 2008. However, a real indication of buyer activity is better measured by the fact that 19 homes went under contact in January. While most of these homes haven’t transferred, it is important to note that all of these homes went under contract over the last 30 days. So, despite the snow and cold, there are serious buyers in the market buying homes. 

Summary: Here is an unofficial list of all homes that went under contract in Solon in January 2009 along with their list price.

 

7161 SOM Center $21,000
30235 Woodall $79,900
32815 Parkway $92,000
6711 Edgemoor Ave $139,900
5650 Emerald Ridge $140,000
5951 SOM Center $149,000
30135 Woodall Drive $165,000
32782 N. Roundhead Dr $190,000
7128 Selworthy Ln $209,900
5995 Liberty Road $215,000
35250 Spatterdock $240,000
7183 South Side Park $254,900
33200 Ashdown Drive $289,000
33050 Woodsdale $299,000
30500 Wedgewood Dr $350,000
34615 Sherwood Drive $353,000
36120 Spicebush Lane $398,500
6749 Winston Lane $585,000
7244 Castle Pine Drive $649,900

While winter months can be a little slower in terms of real estate sales, there are always very good deals to be had during cold weather months. Sellers often become more motivated during the winter for a variety of reasons and buyers are looking for deals and finding them.

A large amount of the homes on this list ( 7 ) sold within 30 days of being on the market. Average market time of homes on this list was 75 days. To put things in simplistic terms, there are buyers in the market who have seen all of the homes in their price range and are very educated regarding pricing. When a new home comes on the market in their price range, they will see it fairly quickly, which is why the first 30 days of a listing is so important to a home seller.

The initial showings on a listing are usually from those buyers who are very serious and have already defined specifically what they want. When they see a home that is nicer than anything else they have seen in their price range, they will buy it. That is why pricing is so critical in today’s market. If a home is not priced competitively when it initially goes on the market,  these homes will get passed over and end up lingering on the market until the price comes down.

While it is too early to determine if 2009 is going to be a good year in the Solon real estate market, we certainly had a good start.

For more information on Solon and the Solon real estate market, click here to see archived reports and statistics.

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About The Authors:

Dan and Amy Schuman are Solon OH residents. They specialize in Solon luxury homes, working with buyers relocating to Solon, and first-time buyers.

For Ohio and Solon OH real estate and homes see Solon real estate

For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

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Solon Real Estate – Monthly Marketing Report January 2009 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

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