Category Archives: Market Reports

Solon Ohio Real Estate – Mid Year Review 2017

Solon Sold homes

 

Here is our official Mid Year Review for 2017 in Solon. We have included information from the first half of 2016 for comparison purposes.

Figures through June 30, 2017

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

2017                      174                          $320,140                            89

2016                      166                          $314,622                            119

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

2017                        17                           $719,587                           130

2016                        27                           $609,086                            96

PRICE POINT BREAKDOWN OF ALL 2017 SALES THROUGH JUNE 30,2017 ( 2016 mid-year sales in parenthesis )

$0-99,999 = 3 (2)

$100,000-199,999 = 39 (39)

$200,000-299,999 = 58 (60)

$300,000-399,999 = 29 (21)

$400,000-499,999 = 26 (16)

$500,000-599,999= 5 (12)

$600,000-699,000 = 6 (12)

$700,000-799,000 = 3 (3)

$800,000-899,000 = 0 (1)

$900,000-999,999 = 0 (0)

$1,000,000 +   = 2 (0)

Source: NEOHREX

COMMENTARY

On face value, it would seem as though the real estate market in Solon has improved since last year. After all, we have had more sales, a higher average sales price and lower average days on market than at the same time last year.

For the sub $500,000 market, this would hold true. With the exception of the $200,000-$300,000 price point, which broke a record last year, all other price points under $500,000 are doing better this year.  However, this is not the case for the luxury market.

As someone who specializes in Solon luxury homes, I can attest that the luxury market has slowed considerably from last year. The numbers above reflect that with a lower number of sales, especially in the $500,000-$700,000 price points.

Luxury home buyers are out there looking but they aren’t buying. Many don’t necessarily need a high-end home, but would certainly buy if the conditions were right.

The mentality with many of the luxury home buyers is they demand value or a home that provides a huge wow factor. The numbers reflect they aren’t getting what they want.

With the peak of the summer market behind us, it will be interesting to see what transpires in the fall.

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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 Solon 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.

Solon Ohio Real Estate – Mid Year Review 2017 is the property of The Schuman Team and may not be duplicated or used without their written consent.©July, 2017

 

 

Cleveland Real Estate – 2016 Year In Review

Solon Sold homes

 

Here is our official 2016 real estate report for the East side suburbs of Cleveland. We did a comparison from last year to 2015. Suburbs are in alphabetical order.

BAINBRIDGE

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

2016                        39                         $391,721                             169

2015                        40                         $403,433                             156

Highest Sale = $870,000

Lowest Sale = $45,000

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

2016                        14                            $630,314                               185

2015                        10                            $685,483                               162

 

BEACHWOOD

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

2016                       123                        $312,602                              81

2015                       102                        $291,245                              104

Highest Sale = $815,000

Lowest Sale = $80,000

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

2016                        11                            $685,594                                84

2015                        10                            $584,240                               118

 

MORELAND HILLS

Year          # 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

 

ORANGE

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

2016                        24                         $340,220                              126

2015                        19                         $339,639                              118

Highest Sale = $887,500

Lowest Sale = $105,000

 

PEPPER PIKE

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

2016                        116                        $425,281                             139

2015                        110                        $421,096                             128

Highest Sale = $1,045,000

Lowest Sale = $150,000

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

2016                        32                            $661,389                               120

2015                        32                            $655,505                               123

 

SHAKER HEIGHTS

Year          # of Homes Sold        Ave. Sales Price   Ave. Days on Market

2016                      399                    $277,280               113

2015                      356                    $281,796               136

Highest Sale = $1,937,500

Lowest Sale = $13,000

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

2016                       49                              $696,529                            176

2015                       34                              $672,500                            170

 

SOLON

Year          # of Homes Sold        Ave. Sales Price   Ave. Days on Market

2016                      335                    $309,712               111

2015                      303                    $310,027                98

Highest Sale = $840,000

Lowest Sale = $75,000

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

2016                       48                              $656,169                            118

2015                       36                              $672,009                            115

 

TWINSBURG

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

2016                        278                         $242,521                             278

2015                        259                         $231,464                             259

Highest Sale = $530,000

Lowest Sale = $29,900

*source NEOHREX ( Regional MLS )

 

2017 MARKET OUTLOOK

First quarter sales will certainly be in line with last year as there are 111 homes currently under contract in the above mentioned communities. Inventories are low now so many buyers are on the sidelines waiting for the new crop of homes to hit the market over the next 30-60 days.

It’s hard to imagine the market being better overall than in 2016, especially with a possibility of rates increasing. The determining factor may be available inventory over the next 3-4 months.

Homes will continue to sell for close to 96% of asking price. It certainly helps a seller if the home is properly priced and staged up front.

Buyers would be wise to get pre-approved well in advance so they can jump on the right home when it comes on the market. With limited inventory, especially early in the year, you can’t afford to hesitate.

————————————————————————-

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 Solon 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.

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

Twinsburg Ohio Real Estate – Year In Review 2016

Solon Sold homes

 

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

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

2016                        278                         $242,521                             278

2015                        259                         $231,464                              259

Highest Sale = $530,000

Lowest Sale = $29,900

*source NEOHREX ( Regional MLS )

Commentary:

Twinsburg saw an increase in both real estate sales and average sales price in 2016 compared to the previous year.

One interesting statistic is that Twinsburg led area suburbs with sellers receiving on average 98.76% of their final list price.

Buyers choose Twinsburg for a variety of reasons, such as location, quality schools, and affordability compared to suburbs in neighboring Cuyahoga County.

____________________

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, Twinsburg, Westlake, Woodmere.

Twinsburg 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

Orange Real Estate – Year In Review 2016

Solon Sold homes

 

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

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

2016                        24                         $340,220                              126

2015                        19                         $339,639                              118

Highest Sale = $887,500

Lowest Sale = $105,000

Median Sale price = $344,000

 

*source NEOHREX ( Regional MLS )

Commentary:

Orange saw an increase in home sales in 2016 and the average sales price inched up ever so slightly.

Most of last years’ sales were price under $400,000.

Buyers like Orange because of the excellent rated Orange School District. They also like the great location as it is in close proximity to local highways and shopping.

Orange is a relatively small village, so sales are usually limited to 1-2 per month.

With some new housing options and the Pinecrest shopping center opening next year, it will be interesting to see if that has any affect on home sales in Orange.

 

____________________

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

Pepper Pike Real Estate – Year In Review 2016

Solon Sold homes

 

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

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

2016                        116                        $425,281                             139

2015                        110                        $421,096                             128

Highest Sale = $1,045,000

Lowest Sale = $150,000

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

2016                        32                            $661,389                               120

2015                        32                            $655,505                               123

*source NEOHREX ( Regional MLS )

Commentary:

Pepper Pike saw a slight increase in the number of sales and average sales price this past year. The luxury market was almost unchanged.

Overall, the last few years have been good for Pepper Pike real estate as low rates and a decent economy have given buyers confidence to make a move.

We are seeing a lot of sellers downsizing and young families moving into the area. Many plan to do major renovations.

Pepper Pike is attractive to home buyers because of the proximity to the highway, shopping, and distinctive homes that sit on picturesque lots.

 

____________________

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.

Pepper Pike 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

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.

____________________

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

Bainbridge Ohio Real Estate – Year In Review 2016

Solon Sold homes

 

Here is our official 2016 Bainbridge Ohio Real Estate year in review complete with a comparison to 2015.

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

2016                        39                         $391,721                              169

2015                        40                         $403,433                             156

Highest Sale = $870,000

Lowest Sale = $45,000

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

2016                        14                            $630,314                                185

2015                        10                            $685,483                               162

*source NEOHREX ( Regional MLS )

Commentary:

For the most part, Bainbridge held it’s own in 2016 compared to sales and average sales price in 2015. There were more luxury homes sold this past year which reflects well on demand for higher end housing in Bainbridge.

Bainbridge offers a nice housing stock, accessibility to the local highways, and a more country feel than you will get from suburbs in neighboring Cuyahoga County.

____________________

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.

Beachwood Ohio Market Report – Year End 2016 is the property of The Schuman Team and may not be duplicated or used without their written consent.©Jan, 2017

Beachwood Ohio Market Report – Year End 2016

Beachwood Real Estate – 2016 Year End Home Statistics

Beachwood Home Statistics

Here is our official 2016 Beachwood Real Estate year in review complete with a comparison to 2015.

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

2016                       123                        $312,602                              81

2015                       102                        $291,245                              104

Highest Sale = $815,000

Lowest Sale = $80,000

 

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

2016                        11                            $685,594                                84

2015                        10                            $584,240                               118

*source NEOHREX ( Regional MLS )

Commentary:

By looking at these Beachwood home statistics, it is evident that 2016 was a significantly better year than 2015. Both sales and average sales price increased. Low rates and a decent economy kept demand strong.

In addition, the number of Beachwood luxury homes was relatively unchanged but the average sales price and days on market both increased.

With a solid tax base, excellent rated schools, and an active Chamber of Commerce, Beachwood real estate is usually in demand. Beachwood offers its residents great location with easy access to I271, superb amenities, and access to some of the best shopping in all of Ohio. Beachwood continues to be a very desirable community in which to work and live.

____________________

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.

Beachwood Ohio Market Report – Year End 2016 is the property of The Schuman Team and may not be duplicated or used without their written consent.©Jan, 2017

Solon Ohio Real Estate – Year In Review 2016

Solon Sold homes

The following is our 8th annual year in review for Solon Ohio real estate.

Here, we will provide a comparison between 2016 and the previous two years and offer commentary. We will also be including a breakdown of specific price points.

ALL HOMES

Year          # of Homes Sold        Ave. Sales Price   Sales Price/List Price

2016                      335                    $309,712                96.35%

2015                      303                    $310,027                96.24%

2014                      269                    $327,567                96.55%

LUXURY HOMES ( sale price over $500,000 )

2016                       48                     $656,169               96.26%

2015                       36                     $672,009               95.97%

2014                       38                     $712,285               95.21%

2016 SALES – FIRST HALF VS. SECOND HALF OF THE YEAR

FIRST HALF              166              $314,622

SECOND HALF           172              $315,473

 

PRICE POINT BREAKDOWN OF ALL 2016 SALES ( 2015 sales in parenthesis )

$0-99,999 = 7

$100,000-199,999 = 82 (82)

$200,000-299,999 = 110 (90)

$300,000-399,999 = 62 (51)

$400,000-499,999 = 27 (38)

$500,000-599,999= 16 (12)

$600,000-699,000 = 20 (12)

$700,000-799,000 = 10 (9)

$800,000-899,000 = 1 (0)

$900,000-999,999 = 0 (1)

$1,000,000 +   = 0 (2)

Source: NEOHREX

COMMENTARY

2016 was a great year for the Solon real estate market.

Here are some things we can deduct from the statistics above:

1.     More homes sold in 2016 vs. 2015.

2.     Average sales price was slightly lower in 2015 than 2014.

3.     The number of sales was fairly balanced throughout the year.

4.     A well priced home will receive approximately 96% of asking price.

5.     The luxury home market had a significantly better year in 2016 in terms of sales.

WHY WAS 2016 BETTER THAN 2015?

In simplistic terms, the increase in sales in the $200,000-$399,000 price range was the major difference, especially the $200,00-299,000 range. In fact, 2014 saw only 51 sales in this price range, so the dramatic increase over the last two years is quite amazing.

Young families continue to flock to Solon to take advantage of the top rated Solon Schools and the more moderately priced homes are attractive from an affordability standpoint.

In terms of the families moving to Solon from other area suburbs, many are either buying their first home or moving up from their starter home. These buyer typically don’t want to spend more than $350,000 and the available inventories have been plentiful over the last few years.

The other significant price point was the $600,000-699,000 range, where we saw a modest increase in sales from the previous year.

Continued low rates, a decent economy and an increase in the stock market all factored into the increase in sales in 2016.

2017 MARKET OUTLOOK

First quarter sales will certainly be in line with last year as there are 36 homes currently under contract. There are fewer homes currently for sale now  ( 71 ) than at this time last year ( 84 ) so the buyers on the sidelines are likely waiting for the new crop of homes to hit the market over the next 30-60 days.

It’s hard to imagine the sub $300,000 market doing better in 2017, especially with a possibility of rates increasing. The determining factor may be available inventory over the next 3-4 months.

Homes will continue to sell for close to 96% of asking price. It certainly helps a seller if the home is properly priced and staged up front.

Buyers would be wise to get pre-approved well in advance so they can jump on the right home when it comes on the market. With limited inventory, especially early in the year, you can’t afford to hesitate.

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

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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 Solon 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.

Solon Ohio Real Estate  – Year In Review 2015 is the property of The Schuman Team and may not be duplicated or used without their written consent.©Jan, 2017

Solon Ohio Real Estate – Market Report – Oct 2016

Quarterly Market Reports On Sold Homes

Here is our monthly market report for real estate in Solon OH for the month of October, 2016.

HOMES SOLD IN SOLON –  OCTOBER 2016

ADDRESS                   PRICE   

33420 Linden Dr       $137,000

6621 Copley Ave      $145,500

6598 Glenallen Ave    $169,000

5059 Lake Vista Dr    $173,000

32605 Bainbridge Rd  $173,500

6448 Creekside Trl    $180,000

33198 Tallyho Dr      $181,200

33217 S Roundhead Ln$204,500

5199 Brainard Rd      $210,000

 5695 Elm Hill Dr       $217,000

 5675 Elm Hill Dr      $220,000

5203 Cheswick Dr    $235,000

 31845 Lynton Ln     $240,000

32923 Cromwell Dr     $242,000

 37433 Hunters Ridge Rd$249,500

37125 Fox Run Dr     $267,000

 36133 Derby Downs Dr $331,200

 6122 Liberty Rd        $333,000

 7291 Winchester Dr   $357,000

5241 Som Center Rd   $365,000

34160 Seminole Way   $400,000

6405 Suzanne Ln        $410,000

35365 Spatterdock Ln  $422,000

32520 Shadowbrook Dr  $440,000

6710 Brandamore Ct    $508,000

6730 Ridgecliff Dr       $520,000

 

SOLD HOME STATISTICS SOLON OHIO – OCTOBER 2016

Date                                         # of homes sold         Ave. Sales Price             

Oct 2016                                       26                            $281,938

Oct 2015                                       19                            $312,468

*source NEOHREX ( Regional MLS )

COMMENTARY:

As the market has slowed down a little bit from the summer, October sales were fairly decent in terms of the number of sales. However, most were in the mid to lower price points, so the average sales price last month is significantly lower than the year-to-date average sales price of $321,437.

After the market slowed down in July and August, it did pick up after Labor Day.

The luxury market has been strong this year but has slowed down over the last few months. Only 2 of the sales in October were over the $500,000 price point, and we have seen only 6 luxury homes go under contract since Labor Day.

We anticipate decent activity over the next few weeks, and then a seasonal slowdown from Thanksgiving to New Years.

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, Solon residents and agents with Howard Hanna Real Estate Services.

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 Ohio Real Estate – Market Report Oct 2016 is the property of The Schuman Team and may not be duplicated or used without their written consent.©Nov, 2016