Cleveland Real Estate And More

Moreland Hills OH Real Estate - Market Report Spring 2010

Below are sales of Moreland Hills OH homes during the first quarter of 2010. 

Overall, there were 7 sales during the first quarter of 2010 compared to only 3 in 2009.

Here is how the first quarter this year compares with the same time period from 2009 in Moreland Hills:

SUMMARY

The first quarter of 2010 has been better in almost every one of Cleveland's east side suburbs compared to 2009. As the numbers indicate, Moreland Hills OH real estate has gotten off to a better start so far this year as well. Adding to the positive news, there are currently 6 homes under contract, with 2 listed over $750,000. 

Moreland Hills sees very little real estate sales in a given year, so the numbers can at times be a little skewed. However, the luxury home market, which was almost non-existent in 2009, has picked up somewhat so far this year. Perhaps the improving economy has given consumers more confidence to make purchases of big ticket items such as real estate.

Moving ahead, we anticipate this year being better statistically than 2009. Only time will tell, but many experts believe that the we have already seen the bottom of the real estate market and better times lie ahead. Although we don't suggest significant appreciation, the fact that the market may have stabilized is in and of itself a good sign as buyers and sellers will have more comfort moving forward with their real estate goals.

Moreland Hills is viewed as one of the area's most prestigious suburbs with average home values consistently among the highest in the area. Moreland Hills shares an excellent rated school system ( Orange Schools, rated excellent by the state of Ohio ) with neighboring communities of Pepper Pike and Orange, and offers distinctive homes on private wooded lots.

Below are articles of interest pertaining to other suburbs on the East side of Cleveland:

Beachwood Real Estate - First Quarter Market Report 2010

Orange Real Estate - First Quarter Market Report 2010

Pepper Pike Real Estate - First Quarter Market Report 2010

Solon Real Estate - First Quarter Market Report 2010

Twinsburg Real Estate - First Quarter Market Report 2010

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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  Moreland Hills Oh real estate and homes see   Moreland Hills OH real estate

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

VIEW ALL MORELAND HILLS OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Moreland Hills OH Real Estate - Market Report Spring 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©May,2010   

Hiram House Camp Pumpkin Festival

What - Festival - Fun for all ages

When - This Sunday October 11th, 2009 from 10am - 5pm

Where - Hiram House Camp - You must park at Orange Schools on Chagrin Blvd. There will be a FREE shuttle service that will take you to the camp.

Hiram House Camp, Ohio's oldest camp, will be having their annual fall PUMPKIN FESTIVAL this Sunday. This is always one of the most popular local fall events and attracts families from all over Northeast Ohio. There will be games, pets, crafts and more. In fact, here is a list of activities you can expect:

   Petting Farm

Hay Rides

Kids Craft Corner

Candle Dipping

Face Painting

Petting Farm

Haunted Maze

Food and Refreshments

Admission is $4 for adults, $3 for children under 12, and children under 2 are FREE. Some activities do require an additional minimal charge as well.

All proceeds benefit Hiram House Campership Fund.

To learn more about Hiram House Camp, click here.

For more detailed information about the Hiram House Camp Pumpkin Festival, click here.

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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 have worked with numerous professional athletes, business owners, and relocating executives and specialize in the Eastern suburbs and Cleveland Ohio luxury home market.

If you are looking to buy or sell a home in the Cleveland area, please contact the Schuman Team at 216-346-3235. 

VIEW ALL CLEVELAND AREA  HOMES FOR SALE BY CLICKING BELOW:

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Hiram House Camp Pumpkin Festival is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Oct,2009   

Below are official sales during the first quarter of 2009 in Moreland Hills Ohio.

 ADDRESS                       LIST PRICE            SALE PRICE

Overall, there were 9 sales during the first quarter of 2008 compared to only 3 this year.

Here is how the first quarter of 2009 compares with the same time period from 2008 here in Moreland Hills:

The beginning of 2009 was generally slow throughout many of Cleveland's east side suburbs. The major difference in the figures from 2009 to 2008 was that there were 2 homes in the beginning of 2008 that sold for around $2,000,000.

Since few homes typically transfer in Moreland Hills, the numbers can be easily skewed when there are periods of time where large sales occur. On a bright note, there are 5 homes currently under contract, most occurring within the last 30 days. This may indicate increased buyer activity.

Check out other quarterly reports from nearby suburbs:

Bainbridge Ohio 2009 First Quarter Market Report

Beachwood Ohio 2009 First Quarter Market Report

Orange Village Ohio 2009 First Quarter Market Report

Pepper Pike Ohio 2009 First Quarter Markte 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. The Schuman Team uses 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

2008 was a decent year in real estate in Moreland Hills. Despite all of the negativity in the media, it wasn't all doom and gloom here as 40 homes sold in 2008 compared to 43 homes that sold in 2007. Having an excellent rated school system and homes that typically sit on 1.5+ acre wooded lots makes Moreland Hills one of the most exclusive communities on the east side of Cleveland.

In terms of average sales price, home values in Moreland Hills have fluctuated over the last 5 years. In 2008, the average price of a home in Moreland Hills was $483,925. In 2007, the average price of a home was $531,436, which was up from 2006 when it was $500,272.

Market time has steadily increased as well over the last 5 years. In 2004, average market time in Moreland Hills was 99 days. This number has inched upwards and in 2008, it took 130 days, on average, for a home to sell in Moreland Hills.

Moreland Hills Luxury Homes - In terms of luxury homes, which are those that sell for over $500,000 per the Institute for Luxury Home Marketing, 10 luxury homes sold in Moreland Hills in 2008, which was exactly 25% of the total number of homes sold. This number is the lowest over the last 5 years. In 2007, 21 luxury homes sold in Moreland Hills, which accounted for almost 50% of all total sales.

Commentary: The problem over the last few years is that sellers had unreasonable expectations of the value of their home based on unprecedented appreciation during the early part of the decade. During the real boom years of 2003-2006, homes in Moreland Hills were statistically appreciating at much higher rates than normal. So, instead of focusing on realistic market conditions, many sellers would price their homes based on the market continuing to appreciate at an unrealistic pace. Many sellers merely priced themselves out of the market and did not properly react to the downturn. This can be evidenced by the fact that more than twice as many homes didn't sell in 2008 than sold ( 87 vs. 40 ).

As the statistics indicate, sellers are still selling provided they are competitively priced to what the market will bear.

For more information on the Moreland Hills housing market or for a personal consultation, contact Dan Schuman of the Schuman Team at 216-346-3235 or visit us on the web at www.schumanteam.com.