Solon Ohio Real Estate – Home Value Report 3rd Quarter 2010

Solon Ohio Real EstateHome Value Report 3rd Quarter 2010

  

solon real estate report

 

Before we discuss home values and trends in Solon, OH, we will first provide a list of all the homes that sold in Solon during the month of September and a statistical comparison between the third quarter of 2010 and the same time period in 2009.

5080 Harper Rd $126,000
6825 Green Ridge Ave $195,000
6545 Duneden Ave $218,000
33128 S Roundhead Dr $225,000
5823 Richmond Rd $230,000
5485 Ridge Ln $267,500
32600 Seneca Dr $319,500
7028 Highview Dr $395,000
27555 Tinkers Valley Dr $395,010
7230 Castle Pine Dr $496,000
29775 N Park Blvd $710,000
37471 Cherrybank Dr $765,000

 

 All Sales           # of homes sold       Ave. Sales Price              

Sept. 2010               12                      $361,834                

Sept. 2009               17                      $231,029

YTD 2010                 153                    $297,439

YTD 2009                 187                    $293,045  

*source NEOHREX ( Regional MLS )

COMMENTARY:

We realize that most people want to know what is going on with the value of homes here in Solon, OH. Whether you are buying, selling, or just live here in Solon, you want to know. One thing we want people to understand is that real estate is very local, so it’s important that you don’t get too caught up in national housing statistics. In fact, home values in Solon may not even be faring the same as other suburbs of Cleveland.

Demand obviously plays a big part in the direction of home prices. Solon is seen as a highly desirable area to live based in large part to having one of the top school districts in the nation. Based on the information above, which reflects all sales through the first three quarters of 2010, the average sales price is higher this year than it was last year at the same time.

Overall, home values here seem to be in line with where they were last year, yet values are about where they were 10 years ago. Local appraisers that we have spoken with also have indicated that while inventories may be up and it is taking longer in general for homes to sell, the market is still deemed stable.

Foreclosures, which have caused home values to decline in many areas of the country, do not seem as pravalent here in Solon this year, compared to the last few years. That doesn’t mean they don’t exist, but there are not enough of them at this point to alter statistics dramatically downward.

WHAT TO EXPECT IF YOU ARE BUYING OR SELLING A SOLON HOME

One thing to note is that every home is unique and the thing to be most concerned with is to compare your home, or the one you want to buy, with similar homes that have recently sold. Price point, location and condition are also major factors in Solon home values.

If you are looking to buy or sell a home in Solon, you should really contact a local professional, someone who has intimate knowledge of the market and has personally seen the inventory. While there are a lot of helpful websites out there that will give estimated home values, most of them have a high margin for error. There is no substitute for someone who has specific market knowledge.

Below Are Other Articles Of Interest Relating To Solon OH:

Solon – A Special Community

Money Magazine Ranks Solon Top Places To Live

Newsweek Ranks Solon On Top Schools List

 

Solon Schools

Solon Luxury Homes – Year In Review 2009

Solon real estate – year in review 2009

 

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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.

VIEW ALL SOLON OH HOMES FOR SALE BY CLICKING BELOW

 CHECK OUT THE SCHUMAN TEAM’S AWARD-WINNING WEBSITE

 

Solon Ohio Real Estate – Home Value Report 3rd Quarter 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

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