Moreland Hills Real Estate – Year In Review 2016

Solon Sold homes

 

Here is our official real estate report for Moreland Hills for 2016 complete with a comparison to 2015.

All Sales           # of homes sold         Ave. Sales Price              Ave. Days on Market

2016                        47                         $531,774                              173

2015                        44                         $425,694                              144

Highest Sale = $1,850,000

Lowest Sale = $98,000

Luxury Sales     # of homes sold        Ave. Sales Price              Ave. Days on Market

2016                        20                            $831,983                               195

2015                        12                            $742,533                                 90

*source NEOHREX ( Regional MLS )

Commentary:

As was the case with most of Eastern Cuyahoga County, Moreland Hills saw an increase in both real estate sales and average sales price in 2016 compared to the previous year. Moreland Hills always has a large portion of sales in the luxury home price point, where we saw a significant increase in sales this past year. However, days on market was significantly higher than in 2015.

When we see homes take that long to sell, it’s typically a result of sellers pricing their homes too high to start out.

Moreland Hills sellers received an average of 93.42% of their final asking price, which is the lowest percentage among Eastern Cuyahoga County suburbs.

Moreland Hills is one of the most affluent suburbs in Cleveland with many homes situated on over 2 acres of land.

The picturesque lots, accessibility to local highways and nearby shopping  make Moreland Hills a popular choice for people relocating to the area from out of state.

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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 specialize in luxury homes, relocation, and first-time buyers.

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.

Moreland Hills Real Estate – Year In Review 2016 is the property of The Schuman Team and may not be duplicated or used without their written consent.©Jan, 2017

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