Cleveland Real Estate And More

Bainbridge Real Estate - Year End Market Summary 2010

 

 

Here is our official 2010 year in review for Bainbridge Homes and Bainbridge Real Estate complete with a comparison to 2009. We will provide commentary after giving comprehensive statistics on the Bainbridge housing market. 

 

Sales     # of Homes Sold        Ave. Sales Price                High                  Low

2010                      122                      $310,412               $970,000            $8755

2009                      105                      $321,268               $1,000,000         $40,000 

 

Here is a breakdown of 2010 sales by price bands:

 

Selling Price Range  Quantity      Average DOM   $19,999 or under 2 112   $50,000 thru $59,999 1 55   $80,000 thru $89,999 3 43   $90,000 thru $99,999 3 418   $100,000 thru $119,999 9 181   $120,000 thru $139,999 9 174   $140,000 thru $159,999 4 80   $160,000 thru $179,999 4 190   $180,000 thru $199,999 4 73   $200,000 thru $249,999 17 195   $250,000 thru $299,999 17 133   $300,000 thru $349,999 11 158   $350,000 thru $399,999 8 182   $400,000 thru $449,999 4 236   $450,000 thru $499,999 5 110   $500,000 thru $549,999 4 116   $550,000 thru $599,999 5 125   $600,000 thru $649,999 2 136   $650,000 thru $699,999 2 145   $700,000 thru $749,999 3 296   $750,000 thru $799,999 2 323   $900,000 thru $949,999 2 301   $950,000 thru $999,999 1 94     122 167

Source: NEOHREX

Commentary:

Unlike most surrounding areas, Bainbridge actually saw an increase in the number of homes in 2010 compared with 2009. The average sales price was down, however.

The breakdown of price bands shows the most activity in the $200,000-$300,000 price point. This makes sense as the pool of buyers tends to shrink as the price increases.

It is interesting to note that there were 21 luxury home sales in Bainbridge last year, up from 18 luxury home sales in 2009. The subdivisions of Canyon Lakes, Canyon Woods, and Laurel Springs were very popular this past year.

Moving forward to 2011, the interest rates are still near their historic lows, and the economy is inching ever so slowly upwards, so we anticipate seeing very similar numbers to last year, without any major shift in either direction.

 

 

 

View Bainbridge in a larger map

 

 

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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 Real Estate - Year End Market Summary 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©January, 2011

 

Bainbridge Ohio Home Values Report - November 2010

Before discussing Bainbridge Ohio home values, we will go over sales for November of 2010. Here is a list of homes that sold in Bainbridge in November 2010 with a map below indicating location. The plus sign on the map indicates multiple sales in that specific area.

  

8834 S Spring Valley Park Dr	$80,000
17613 Walnut	$135,500
8022 S Riverside Dr	$245,000
8639 Apple Hill Rd	$272,500
8754 Holly Springs Trl	$278,000
16611 Mohican Trl	$292,500
17408 Beech Grove	$470,000
16420 Crown Pointe	$632,000
8360 Woodberry Blvd	$685,000

 

All Sales                          # of homes sold         Ave. Sales Price 

November 2010                      9                        $343,389  

November 2009                     11                       $253,591

YTD 2010                               113                     $308,857

YTD 2009                               95                       $319,188

*Source NEOHREX 

 

 

 

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 many surrounding areas, such as Solon and Twinsburg, have seen less  sales and a higher average sales price, the statistics in Bainbridge are the exact opposite. 

The fact that there are more sales is a always a good thing, as it indicates a renewed sense of confidence for home buyers. The drop in average home price is fairly small, so we don't see anything major to be alarmed about here.

When looking at home values in Bainbridge the statistics above should be used in conjunction with other figures. Just because the average price of a home is lower this year does not mean that every home has lost value. Every neighborhood and for that matter, every home is unique. Therefore, the best way to determine value is to compare a home to similar homes that have recently sold. A local real estate agent can assist with this.

Please look for our popular end of the year report next month. We will make a thorough assessment of the Bainbridge real estate market and give our thoughts on what to expect in 2011.

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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 Report - Noevember 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©December, 2010

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.

 

18283 Chillicothe Rd	$85,000
8558 Tanglewood Trl	$138,000
17614 Millbrook	$175,000
8759 Holly Springs Trl	$220,000
7676 Cope Dr	$274,000
8825 E Pilgrim Dr	$275,000
2-S/L Edwards Landing #2	$300,000
8125 Knolls Way	$310,000
8374 Bainbrook Dr	$350,000
17197 East View Dr	$475,000

 

 

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.

 

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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

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.

 

17644 N Hampton Ct	$106,000
8605 Tanglewood Trl	$128,000
8745 E Craig Dr	$195,000
17115 Woodmere Dr	$201,000
18030 Haskins Rd	$247,000
9590 Stafford	$342,000
17291 Red Fox Trl	$510,000
7940 Cobblestone Ln	$513,500
7570 Trails End	$679,000

 

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. 

 

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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

Bainbridge Home Statistics

Here are all home sales last month in Bainbridge:

 

SOLDS October 2009	SALE PRICE
17682 Eastbrook Trl	$90,000
18900 Geauga Lake Rd	$177,500
17096 Eastview Dr	$215,000
7682 Country Ln	$336,000
7860 Bainbrook	$417,500
17340 Red Fox Trl	$530,000
18770 Brewster	$710,000

SUMMARY

Overall, there were a total of 7 homes sales in Bainbridge in October at an average sales price of $353,714. Last October saw 13 sales at an average of $338,808. Year to date, there have been a total of 81 homes sales with an average sales price of $325,850. There were 94 home sales through the first 10 months of 2008 with an average sales price of $332,555.

While homes sales are down in terms of number of sales, these Bainbridge home statistics show that the average sales price is fairly close to what is was last year. A possible sign of the bottom of the market. The good news is that the Bainbridge luxury home market, homes that sell for over $500,000, is about in line with last years figures. This is significant because many surrounding areas, including Solon, have seen a drastic decrease in luxury home sales.

There are currently 21 homes under contract, making it a possibility that we will have as many sales in 2009 as we had in 2008. The average sales price will also be close to what it was last year.

What does this all mean? To begin, it may mean that things won't get worse and perhaps 2009 will be the bottom in terms of Bainbridge real estate values. This could be the sign many buyers have been waiting for as the economy slowly improves and their decision to buy will be made easier knowing homes prices are no longer depreciating. 

There are still a lot of homes on the market in Bainbridge, especially in the luxury home market, and it should continue to be a buyers market here for quite a while.

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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 Home Statistics is is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Nov,2009   

 BAINBRIDGE OHIO MARKETING REPORT - FIRST QUARTER 2009

  

 

 

 

 

 

 

 

 

 

The first quarter has been rather slow in terms of overall sales in the Bainbridge real estate market.

Specifically, only 9 homes have officially sold in 2009 compared to 18 during the first quarter of 2008. Here is a comparison between 2009 and 2008:

A COMPARISON OF FIRST QUARTER HOMES SALES - BAINBRIDGE OHIO 2009 VS. 2008

	Ave. Sale Price	Ave. Price Sq./Ft	Ave. Market Time
2009 - 9 sold	$305,333	$86.98	124
2008 - 18 sold	$331,988	$110.97	163

SUMMARY

First quarter sales are typically the direct result of buyer activity during the late fall and early winter months. Overall, this period was slow area wide. However, there are 13 homes currently under contract in Bainbridge. Of these 13 homes, 4 would be considered luxury homes, as they are priced over $500,000. This is a good sign of recent activity.

In addition, 26 homes have gone on the market over the last 3 weeks. This may be a sign that sellers are no longer afraid of unfavorable market conditions and have confidence that the spring market will bring buyers.

Conversely, home buyers will have additional homes to choose from, many which are priced very competitively. It is a fantastic time to be a buyer in this market.

Check out Market Reports for other nearby suburbs:

Beachwood Ohio 2009 First Quarter Market Report

Moreland Hills Ohio 2009 First Quarter Market Report

Orange Village Ohio 2009 First Quarter Market Report

Pepper Pike Ohio 2009 First Quarter Market Report

Solon 2009 First Quarter Luxury Home Market Report

Solon 2009 First Quarter Market Report All Homes

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About The Authors:

Dan and Amy Schuman reside in the eastern suburbs of Cleveland. They use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and the Schuman Team's listings sold in less than 60 days.

The Schuman Team specializes in luxury homes. They are founding members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and also members of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. They also work extensively with buyers and sellers who are relocating in or out of the area.

If you are looking to buy or sell a home in Bainbridge,Beachwood, Moreland Hills, Orange, Pepper Pike, Solon, or the surrounding Eastern suburbs of Cleveland, please contact the Schuman Team as they would be happy to show you why people love working with them.

To see all homes currently on the market in the Cleveland Ohio area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

Check out the award-winning website, www.schumanteam.com .

 or CLICK HERE to visit the Schuman Team blog and then save it as one of your favorites.

All content is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

MONTHLY REAL ESTATE MARKETING REPORT

  

 

 

 

 

 

 

 

 

 

The Bainbridge real estate market has gotten off to a slow start here in 2009 in terms of actually sales, but has picked up steam over the last 30 days or so.

Specifically, only 3 homes have officially sold in 2009 compared to 13 sales through the first 60 days of 2008.  This means that the fall of 2007 was much more active than the fall of 2008. A major factor for this significant drop in sales is the economy.

However, over the last 60 days, 9 homes have gone under contract. This is a good indication of current buyer activity. This is a sign that there are serious buyers in the Bainbridge. 

SUMMARY

Here is an unofficial list of all homes that recently went under contract, and a separate list of all homes that have SOLD so far this year in Bainbridge.

 

RECENTLY UNDER CONTRACT	List Price
18171 Chillcothe	$66,000
16782 Medina St	$70,000
8099 Westhill Dr	$105,900
7049 Woodland	$109,900
18754 Elmwood	$114,000
17606 Eastbrook	$195,000
8850 S Spring Valley Dr	$275,000
9102 Lake In The Woods	$275,000
7560 Trails End	$650,000

 

SOLDS JAN/FEB 2009	Sale Price
7383 Samuel Lord Dr	$223,000
9505 Mallard	$310,000
7550 Cottonwood Trail	$903,000

 

WHAT'S NEXT?

Right now, the inventory of homes is stale as very few new homes have come onto the market during the winter months. Buyers have been buying the lower priced bank owned homes. Overall, the serious buyers have seen everything in their price range and have not been overwhelmed enough by any of them to make a serious buying decision. These buyers typically have defined exactly what they want and are just waiting for the right home to come on the market. They are also watching to see if the price of a current listing decreases enough for the home to become more appealing.

The spring market is just around the corner and we anticipate a lot of homes coming onto the market in the next 60 days. Activity should really pick up from April -July as many buyers with school aged children will want to be settled into their new home for the start of the school year in August.

Check out Market Reports for other nearby suburbs:

Beachwood Market Reports

Pepper Pike Market Reports

Solon Market Reports

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If you are looking to buy or sell a home in Bainbridge, Beachwood, Moreland Hills, Orange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact us as we would be happy to show you why people love working with the Schuman Team.

Dan and Amy Schuman use their home staging expertise to sell listings quicker and for more money. The average home in the Cleveland area sold in over 100 days in 2008 and our listings sold in less than 60 days. The Schuman Team specializes in luxury homes and are members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and of the prestigious Institute for Luxury Home Marketing, the premier independent authority in training and certification for real estate agents working in the luxury home market. We also work extensively with buyers and sellers who are relocating in or out of the area.

To see all homes currently on the market in the Cleveland area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

All content is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009