Moreland Hills OH Real Estate - Home Value Report 3rd Quarter 2010
Before we discuss home values and trends in Moreland Hills, OH, we will first provide a list of all the homes that sold here during the 3rd quarter of 2010. We will then provide a comparison to the third quarter last year and also give year to date comparisons between 2010 and 2009 as well.
Below are sales of Moreland Hills OH homes during July, August, and September of 2010.
| 34102 Chagrin Blvd ##2106 | $130,000 |
| 235 Meadowhill Ln | $150,900 |
| 33670 Hiram Trl | $227,000 |
| 75 N Strawberry Ln | $245,000 |
| 125 Mill Hollow Dr | $325,000 |
| 180 Sterncrest Dr | $522,000 |
| 25 Cableknoll Ln | $756,000 |
| 205 Murwood Dr | $775,000 |
Overall, there were 8 sales during the third quarter of 2010 compared to 11 in 2009.
Here is how the third quarter this year compares with the same time period from 2009 in Moreland Hills:
| Year | # Of Sold Homes | Ave. Sale Price | ||
| 2010 | 8 | $391,363 | ||
| 2009 | 11 | $362,841 |
SUMMARY
To begin, Moreland Hills OH is a very exclusive community with a limited number of home sales. With such a small amount of data, statistics can sometimes be misleading or inconclusive.
So far this year, we have seen 21 home sales at an average sales price of $399,662. There are currently 6 homes under contract, all will most likely transfer before the end of the year. Last year through the first 3 quarters, we had 26 home sales averaging $350,391. We could conclude that although sales are down, Moreland Hills home values are up compared to last year.
As previously mentioned, with a limited number of sales, it can sometimes be difficult to really get a fair grasp on where home values are heading in Moreland Hills. One good sign is that Moreland Hills luxury home sales, those over $500,000, are up so far this year. So far, there have been 5 sales over $500,000 with the highest being $1,250,000. There are 3 currently under contract. Last year at this time, we only had 3 sales over $500,000.
So, the fact that the luxury home market is experiencing signs of life is good news. We are seeing this trend in other nearby suburbs as well, and conclude that more luxury home activity is due to high-end buyers feeling more comfortable about the economy, and sellers being more realistic on the value of their homes.
Overall, 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.
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Moreland Hills Real Estate - Home Value Report 3rd Quarter 2010M is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010
