Bainbridge Real Estate – Marketing Report February 2009

MONTHLY REAL ESTATE MARKETING REPORT

  

Market Statistics

Real Estate Marketing Stats

 

 

 

 

 

 

 

 

 

The Bainbridge real estate market has gotten off to a slow start here in 2009 in terms of actually sales, but has picked up steam over the last 30 days or so.

Specifically, only 3 homes have officially sold in 2009 compared to 13 sales through the first 60 days of 2008.  This means that the fall of 2007 was much more active than the fall of 2008. A major factor for this significant drop in sales is the economy.

However, over the last 60 days, 9 homes have gone under contract. This is a good indication of current buyer activity. This is a sign that there are serious buyers in the Bainbridge. 

SUMMARY

Here is an unofficial list of all homes that recently went under contract, and a separate list of all homes that have SOLD so far this year in Bainbridge.

 

RECENTLY UNDER CONTRACT  List Price
   
18171 Chillcothe $66,000
16782 Medina St $70,000
8099 Westhill Dr $105,900
7049 Woodland $109,900
18754 Elmwood $114,000
17606 Eastbrook $195,000
8850 S Spring Valley Dr $275,000
9102 Lake In The Woods $275,000
7560 Trails End $650,000

 

SOLDS JAN/FEB 2009  Sale Price
   
7383 Samuel Lord Dr $223,000
9505 Mallard $310,000
7550 Cottonwood Trail $903,000

 

WHAT’S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. Buyers have been buying the lower priced bank owned homes. Overall, the serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

Check out Market Reports for other nearby suburbs:

Beachwood Market Reports

Pepper Pike Market Reports

Solon Market Reports

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If you are looking to buy or sell a home in Bainbridge, BeachwoodMoreland HillsOrange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact us as we would be happy to show you why people love working with the Schuman Team.

Dan and Amy Schuman use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and our listings sold in less than 60 days. The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. We also work extensively with buyers and sellers who are relocating in or out of the area.

To see all homes currently on the market in the Cleveland area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

All content is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

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