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:
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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.
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