Orange Home Statistics
Here is an unofficial list of all home sales during the third quarter of 2009 in Orange Village, Ohio. A summary with a state of the market will follow.
| 4970 Lander Rd | $87,500 |
| 3956 Brainard Rd | $109,900 |
| 29199 N Hilltop Rd | $161,000 |
| 28849 Orange Meadow Ln | $177,500 |
| 28739 Orangewood Dr | $225,000 |
| 4189 Brainard Road | $230,000 |
| 54 W Stonebrooke Dr | $230,000 |
| 29749 Orangewood Dr | $287,000 |
| 3942 White Oak Trl | $295,000 |
| 3835-3 Acorn Trl | $310,000 |
| 3917 W Meadow Ln | $348,000 |
| 3850 Beechmont Oval | $375,000 |
| 125 Orange Tree Dr | $525,000 |
SUMMARY
Overall, homes sales in Orange in 2009 are similar to those of 2008. In the third quarter of 2009, we had 13 homes sell at an average sales price of $258,531. Last year we had 15 homes sell during the third quarter at an average price of $311,590.
Year to date figures in terms of number of sales is similar as well. So far this year there have seen 25 homes sell at an average price of $273,700. During the same time period in 2008, there were 29 sales at an average price of $312,183.
While these Orange home statistics indicate similar buyer activity to last year in terms of sales, the average home price is significantly lower this year compared to 2008. The main reason is that there are a few more bank owned home in Orange or distressed sales in the under $200,000 range, and less home sales in the luxury home range, that being over $500,000. Considering that Orange Village is such a small area and does not have a lot of homes that transfer in any given year, the statistics can often be skewed by even a few extra lower end properties selling.
Orange is still a community in high demand as the location, excellent rated school district, and amenities are sought out by local buyers. Homes in good condition that are priced well will still sell. Bank owned homes in Orange and surrounding areas will continue to show up in the marketplace over the next few years, keeping the average home price lower than they have been in previous years. However, once the economy picks up, there will be more higher end sales, thus helping to neutralize the lower numbers caused by distressed properties.
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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 Orange or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235.
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Orange Home Statistics is is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Oct,2009
