Cleveland Real Estate And More

Bainbridge Ohio Home Values - October 2010

Before discussing Bainbridge Ohio home values, we will go over last month's sales numbers and also give a year to date analysis.

Here is a list of homes that sold in Bainbridge in October 2010.

All Sales                          # of homes sold         Ave. Sales Price 

October 2010                        10                         $260,200  

October 2009                         9                          $376,834

YTD 2010                               103                       $306,556

YTD 2009                                84                        $327,778

SUMMARY

As you can see from the figures above, sales are better than last year, although the average price of a home in Bainbridge is lower. While most surrounding areas, such as Solon and Twinsburg, have seen a higher average sales price and less sales, Bainbridge has been just the opposite, which is neither good nor bad. 

The fact that there are more sales is a good thing, and rates being at or near their historic lows certainly has helped. The fact that the average sales price is lower this year compared to 2009 could be due to more lower priced homes selling and not as many luxury homes selling in Bainbridge, and not necessarily a drop in home values.

When looking at home values in Bainbridge the statistics above should not be used to make a blanket statement on the overall market. Just because the average sales price is down about 6.5% compared to last year does not mean all Bainbridge homes have lost value. There are several other factors that come into play here.

Certain neighborhoods and price ranges are going to be deemed by buyers as more desirable and will tend to hold their value better than other areas. Location and amenities will also make a difference in the value of a home. If you are looking to buy or sell a home in Bainbridge,  the best way to quickly find out what your home is worth is to click on the box below and you can sign up for a market report for your specific area.

We also recommend enlisting the services of a local real estate agent at some point during the process. An agent who knows the market and has seen the inventory will be able to help you determine the value of your Bainbridge home.

--------------------------------------------------------------------------------------------------------------------

About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Bainbridge Oh real estate and homes see  Bainbridge Oh Real Estate

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

 LET'S CONNECT:

Bainbridge Ohio Home Values - October 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©November, 2010

 Beachwood OH Home Values - Report October 2010

Before discussing the direction of home values in Beachwood OH, we will first give monthly and yearly statistics for sales and average sales price. Commentary will be provided.

Here is a list of all homes that sold in Beachwood in October, 2010. 

All Sales           # of homes sold         Ave. Sales Price              

October  2010            6                        $366,363                

October  2009           11                       $287,591

YTD 2010                  83                       $284,067

TYD 2009                  97                       $266,952  

*source NEOHREX ( Regional MLS )

COMMENTARY:

Last months' sales figures were similar to the trend we've seen for the year, lower number of actual sales but higher average sales price.

When looking at home values in Beachwood, the statistics above should not be used to make a blanket statement on the overall market. Just because the average sales price is up 6.4% does not mean all Beachwood homes have increased in value by this amount as there are too many other factors that come into play.

It is fair to say that homes in Beachwood, because of limited inventory, typically hold their value over time better than many other area suburbs. There are certainly neighborhoods and price points that are deemed more desirable by local home buyers, and these homes may in fact see better gains in terms of home values. 

If you are looking to buy or sell a home in Beachwood, the best way to quickly find out what your home is worth is to click on the box below and you can sign up for a market report for your specific area. We also recommend enlisting the services of a local real estate agent at some point during the process. There is no substitute for the market knowledge that an agent can give you.

Overall, Beachwood is deemed very desirable by those relocating to the Beachwood OH area due in part to easy access to the highway, excellent rated schools, and being in close proximity to the area's best shopping and restaurants.

Below are other articles of interest pertaining to Beachwood OH Home Values:

Beachwood OH Real Estate - Home Value Report 3rd Quarter 2010

Beachwood OH Real Estate - Monthly Market Report August 2010

--------------------------------------------------------------------------------------------------------------------

About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Beachwood Oh real estate and homes see  Beachwood Oh Real Estate

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

 LET'S CONNECT:

Beachwood OH Home Values - Report October 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©November, 2010

Solon Ohio Home Value Report - October 2010

Before we discuss home values in Solon OH, we will first give a list of all the homes that sold in October of 2010. We will also compare last month to October 2009 and provide a year to date analysis as well.

 All Sales           # of homes sold       Ave. Sales Price              

Oct. 2010                 17                      $326,435                

Oct. 2009                 20                      $252,160

YTD 2010                 171                    $299,348

YTD 2009                 206                    $290,493

*source NEOHREX ( Regional MLS )

COMMENTARY:

Last month, the number of home sales was down compared to the same period of time last year, but the average sales price was higher. Year to date figures above show a similar trend. We are seeing about 3 less home sales per month this year compared to last year, although the average sales price is higher.

So, what does this have to do with home values in Solon? For starters, the average sales price is higher, which is certainly a good sign. However, finding the true value of a home in Solon is more complex than looking at the information listed above. Some neighborhoods are doing better than others, and some price points are more popular as well. Therefore, it is difficult to make a blanket statement by saying that the value of homes in Solon is going up by X% this year. It's probably safer to say, based on market statistics, that the market in general has stopped declining, and that certain neighborhoods have been holding their value pretty well despite the downturn in the local real estate market.

Overall, 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. If you are buying or selling a home and want to know about home values of a specific home in Solon, a local real estate agent, someone who knows the inventory inside and out, will be able to best help you. 

Below Are Other Articles Of Interest Relating To Solon OH home value:

Solon Luxury Homes - Year In Review 2009

Solon real estate - year in review 2009

--------------------------------------------------------------------------------------------------------------------

About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Cleveland Oh real estate and homes see  Cleveland OH real estate

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

 LET'S CONNECT:

Solon Ohio Home Value Report - October 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©November, 2010

Original Source - Cleveland Real Estate Blog

Here is our official 3rd quarter home value report for Solon Luxury Homes complete with a comparison to 2009. 

Please keep in mind that in the Cleveland real estate market, the definition of a luxury home is one that sells for at least $500,000. Commentary to follow. 

Here are all luxury homes that sold in Solon during the Third Quarter of 2010:

THIRD QUARTER 2010 VS. THIRD QUARTER 2009 COMPARISON

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

2010                          6                      $673,250                             145

2009                          9                      $560,247                             131 

YEAR TO DATE COMPARISON

2010                         20                     $641,088                             170

2009                         27                     $600,069                             129

Commentary:

Through the first three quarters of the year, we have less luxury home sales in Solon than at this time last year, and the market for homes priced over $750,000 remains extremely soft. However, the average home price has increased from 2009. So, what does that mean for the values of Solon luxury homes?

To begin, it would not be fair to look at the above statistics and make a blanket statement that Solon luxury home values are up around 7%. The increase in the average sales price is more likely due to a lower number of distressed luxury homes being sold this year than an actual increase in home values. However, we feel that prices at all levels are no longer decreasing and have leveled off. In addition, appraisers that we have spoken with say that Solon is seen as a stable market in terms of home values although they are taking a little longer to sell.

When trying to determine the value of a luxury home in Solon, it is important to have a reliable method for coming up with value. Looking at national or even regional housing statistics is nice, but is not necessarily relevant as real estate is very local. 

When all is said and done ( and I'm not just saying this because I'm an agent ) there is no substitute for having a local real estate expert help with this process, specifically someone who has personally been inside many of the homes here in Solon. Below are past articles that relate to the content of this post.  

2010 Solon Luxury Home Bi-Annual Market Report

2009 Year End Luxury Market Report Solon Ohio

Solon Agent Receives Luxury Home Designation

***********************************************************************************  

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 LUXURY HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Solon OH Real Estate - Luxury 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

Bainbridge Real Estate - Home Value Report Third Quarter 2010

Before we discuss the state of home values here in Bainbridge, we will first list all the homes that sold last month and make a comparison between the third quarter this year and 2009.

All Sales                          # of homes sold         Ave. Sales Price 

Third Quarter 2010                35                         $341,134  

Third Quarter 2009                35                         $265,886

YTD 2010                               93                         $311,541

YTD 2009                               75                         $321,892

SUMMARY

Overall, sales numbers for September and the third quarter were the same as those from 2009.  The main difference is that average sales price was higher during the third quarter this year than last. We have seen more sales this year, year-to-date, with the average sales price coming in just under what it was at the same time last year.

In terms of home values in Bainbridge, it looks like the worst may be behind us. If we take away a few very low priced distressed sales, the average sales price is pretty much unchanged since last year. While we cannot say that the market is appreciating, the statistics certainly seem to support a stabalization of prices. In addition, we have seen more luxury home sales, those over $500,000, this year than last.

Home buyers seem to have a little more confidence this year and historically low interest rates certainly haven't hurt. We also believe that in some areas, such as Bainbridge, sellers are being a little more realistic on their home's value. Sellers who are still not in tune with the market simply won't sell.

When all is said and done, we believe year end statistics will be better this year than in 2009 both in terms of number of sales and average sales price. It is important to note that while these statistics are helpful in getting a general overview, nothing replaces the knowledge of a local real estate agent. If you are looking to get the value of your Bainbridge home or one that you are looking to buy, a local agent is a great resource as they often have information not available anywhere else. 

***************************************************************************************

About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty.The Schumans are experts in the Cleveland Ohio real estate market and specialize in luxury homes, home staging, and working with buyers relocating to Cleveland.

If you are looking to buy or sell a home in Bainbridge or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235. 

VIEW ALL BAINBRIDGE HOMES FOR SALE BY CLICKING BELOW:

 CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Bainbridge Real Estate - Home Value Report Third Quarter 2010 is is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October, 2010

Orange OH Real Estate - Home Value Report 3rd Quarter 2010

Before discussing home values in Orange, we will first give a list of all homes that sold in Orange during the 3rd quarter. We will also show a comparison between this year and 2009.

All Sales                          # of homes sold         Ave. Sales Price 

Third Quarter 2010                11                         $349,273  

Third Quarter 2009                14                         $246,850

YTD 2010                               32                         $281,003

YTD 2009                               26                         $266,827

SUMMARY

Overall, Orange OH home sales are doing better this year compared to 2009 in both total number of sales and average sales price. Although the third quarter sales numbers were not as high as last year, overall numbers are better, which is really more important. Frankly, we don't necessarily put more weight into whether or not a home sells in April or July, unless we see a significant drop-off from one quarter to the next, in which case this may indicate a slowdown. The trend compared to last year is in a positive direction, and that is what we want to highlight here.

When looking at home values in Orange, it is important to understand that real estate is not only local, but hyper-local, even by specific neighborhood. National real estate statistics are not at all helpful when it comes to figuring out one's home value because it paints much too broad of a picture. Even looking at how the Midwest is doing or Cleveland as a whole isn't accurate either.

The average sales price of a home is up this year in all three communities that share the Orange School District; Pepper Pike, Moreland Hills, and of course, Orange. So, we believe it is fair to say that home values have certainly stabilized here. Whether or not they are increasing is still up for debate. There are those who will look at these statistics and conclude that home values in Orange are going up. However, there are those who believe that the fewer number of distressed sales has been the real factor in keeping average sales prices from dropping and that things are really just stable, not actually increasing.

While looking at trends is helpful, determining the actual value of a specific home is much more difficult, as all homes are unique. If you want to know the value of a specific home in Orange OH or surrounding areas, it really is best to contact a local real estate expert, someone who really knows the inventory. At the end of the day, there is no substitute for market knowledge.

********************************************************************************************

About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio andOrange Oh real estate and homes see   Orange OH real estate

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

VIEW ALL ORANGE OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

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

Pepper Pike Real Estate - Home Value Report 3rd Quarter 2010

Before we discuss the direction of home values here in Pepper Pike, we will first give a list of all homes that sold during the 3rd quarter of 2010. We will also include a comparison to the same time period in 2009.

All Sales                          # of homes sold         Ave. Sales Price 

Third Quarter 2010                23                         $524,745  

Third Quarter 2009                20                         $333,520

YTD 2010                               69                         $461,219

YTD 2009                               52                         $373,403

SUMMARY

To begin, one thing to remember is that national housing statistics don't necessarily reflect what is really going on in here in Cleveland. In fact, real estate is so local, that certain suburbs, such as Pepper Pike, could actually be faring better than neighboring areas.

Specifically, things are starting to look favorable regarding sales and home values in Pepper Pike. Sales are up not only this past quarter, but year-to-date as well compared to last year. The average home price is also higher this year than in 2009. Given the current state of the economy, these statistics are actually quite impressive.

A major factor helping Pepper Pike home values is the significant growth of the luxury home market, specifically those homes valued at over $500,000. So far this year, we have had 26 homes sell for more than $500,000, compared to only 12 during the same time in 2009. We can conclude that high-end buyers are much more confident moving forward with a major purchase this year compared to last year.

Overall, while historically low interest rates certainly have helped fuel the market, we feel that home sellers are much more realistic, at least here in Pepper Pike, regarding their home values. This has helped bring buyers and sellers together to create a more favorable real estate market.  

Pepper Pike real estate will continue to be regarded by many as very desirable thanks in part to the excellent rated ( by the State of Ohio ) schools, picturesque homes on beautiful 1 acre wooded lots, and ideal location. 

*********************************************************************************************

About The Authors:

Dan and Amy Schuman live on the East side of Cleveland and specialize in Cleveland Luxury Homes, working with buyers relocating to Cleveland, and first-time buyers.

For Ohio and Pepper Pike OH real estate and homes see Pepper Pike real estate

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

VIEW ALL PEPPER PIKE OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

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

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

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.

 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

********************************************************************************************

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