Solon Homes Report – November 2013

 

 

 

Here is our official market report for  Solon, Ohio for November 2013.

We will provide a list of all single family sold homes, including the names of buyers and sellers if available,  give monthly statistics ( with a comparison to last year ) and provide commentary.

HOMES SOLD IN SOLON –  NOVEMBER 2013

ADDRESS              PRICE         BUYER             SELLER

6446 Glenallen       $115,500   NA                  Clara Jakovic

35355  Aurora Rd   $130,000   Jacob Weber     Joel Tornberg

6576  Glenallen Av $145,000   Yao Qingping     Dorothy Laidman

6573  Forest Glen  $161,500   Wu Guo            Gloria Francis

33565  Baldwin Rd  $185,000   NA                  David Ring

33180  E Nimrod    $189,750   Zhang Shenjia   David Chung

36077 Meadowdale $205,000   NA                  Jennifer Haky

34855  Lakeview Dr$215,000   Brad Kreger       John Duncan

32126  Sedgefield   $250,000   NA                  Paragon Pacific LLC

7297  Winchester   $270,000   Matt Johnson    Chen Shibiao

5876  Som Center   $277,000  Richard Mayer    Kathy Morgan

5624  Westminster  $370,000  Laleh Nematollahi Beth Eidnier

6620  Cummings     $485,000  Brett Johnson     Timothy Trump

37177  Cherrybank  $690,000 Matthew Shene   Carol Arnson

SOLD HOME STATISTICS SOLON OHIO – NOVEMBER 2013

Date                                         # of Homes Sold                 Ave. Sales Price

November 2013                              14                               $263,482

November 2012                              23                               $228,141

YTD 2013                                    286                               $305,721

YTD 2012                                    247                               $299,260

 

COMMENTARY:

As the year winds down, it is safe to say that we will have more home sales here in Solon this year than in 2012.  However, things have slowed down a bit and this may affect the 2014 market.

Low inventories continue to be a problem and may be a factor to decreasing sales next year.

With interest rates continuing to be low and the stock market near all time highs, confidence among buyers seems to be good. In fact, the recurring theme seems to be that there are a lot of buyers on the sidelines and just not enough homes for sale.

In last month’s report, we mentioned there were only 88 active listings, extremely low even at this time of the year. Today, there are only 77 active homes for sale in Solon, an all-time low.

To take this a step further, let’s say you were a buyer looking in the popular $250,000-$300,000 price range. You would have only 5 homes to choose from and they have been on the market for an average of about 4 months. Basically, it would be equivalent to going to Nordstrom and seeing only a few things on the shelves and they are all shorts and bathing suits.

Today’s inventory is basically not ideal for a buyer looking for a sharp home. I am certainly not trying to be negative about the current inventory of homes, but the bottom line is that if a home is that nice and priced well, it would have sold by now.

The homes on the market today are likely dated and overpriced and simply not appealing to today’s picky buyers.

GOOD THINGS COME TO THOSE WHO WAIT

The good news is that new homes typically come on the market after the New Year. So, frustrated buyers should have some renewed optimism that there will be some new homes to look at over the next 30-90 days. The one caveat to buyers is that if you do find a home you like, you better move on it quickly or risk losing out to another buyer.

The good news for sellers is that there has never been a better time to put your home on the market. If you have a nicely finished home, it is staged and priced right, you could have buyers beating down your door.

Our next report will be our popular Year In Review, so look for it early next month.

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They are Solon residents and specialize in luxury homes and relocation.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Solon Homes Report November 2013 is the property of The Schuman Team and may not be duplicated or used without their written consent.©November, 2013

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