Solon Real Estate – Monthly Home Statistics February 2010

Solon Real Estate – Monthly Home Statistics February 2010 

 

solon winter home

 

Here are all the homes that sold in Solon in February:

5765 Richmond Rd $66,000
32756 Parkway Boulevard Blvd $115,000
34500 Jaclyn Dr $147,000
5595 Janet Blvd $189,500
37427 Hunters Ridge $199,000
31525 Farm Dr $200,000
35725 Sedge Cir $254,000
6366 Creekside Trl $270,000
34880 Seminole Way $432,500
7338 Shelford Dr $557,500

Summary:

The winter months are typically slower, with only serious buyers and bargain hunters venturing out in the cold and snow. February home transfers are a result of contracts written in November and December, and Januray, not necessarily an indication of current market activity.

While bank owned and distressed properties make up about 30% of the market nationwide, there was only 1 bank owned home that sold in Solon last month. While the inventory of Solon bank owned homes has decreased over the last year, some people believe that there will be another wave of foreclosures in the near future as many adjustable rate loans are due to re-set. Until then, bargain hunters looking for huge deals may want to look elsewhere.

There are currently 35 homes under contract, which shows that there are homes selling and buyers out in the marketplace. This is even more impressive considering last month was one of the snowiest on record. Homes in the mid-level price points may be deemed the most desirable right now as buyers are still looking to take advantage of the home buyer tax credit, which will be expiring on April 30th.

There is really good news for the Solon luxury home market as 3 homes priced over $500,000 went under contract last month, including one priced over $1,000,000. Perhaps consumer confidence is growing and we will see more high priced homes sell this year.

We still anticipate a lot of buyer activity over the next 60 days, as the weather is beginning to improve and the inventory of new homes coming onto the market grows.

Below Are Other Articles Of Interest Relating To the Solon real estate:

Solon Luxury Homes – Year In Review 2009

Solon real estate – year in review 2009

Is the tax credit deadline really April 30th?

Tips when selling your home in the winter 

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About The Authors:

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

If you are looking to buy or sell a home in Solon or the surrounding Eastern suburbs, please contact the Schuman Team.

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

VIEW ALL SOLON HOMES FOR SALE BY CLICKING BELOW

 

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Solon Real Estate – Monthly Home Statistics February 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©March,2010 

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