April was somewhat slow in terms of actual sold homes, but was extremely busy in terms of contracts. A detailed explanation will be given in the summary comments below.
Specifically, 12 homes officially sold last month compared with 18 sales in February 2008. However, a real indication of buyer activity is better measured by the fact that 34 homes went under contact in April. While most of these homes haven't transferred as this time, this does show that buyer activity is picking up.
Here is an unofficial list of all homes that SOLD in April, 2009 here in Solon.
| SOLDS APRIL 2009 | SALE PRICE |
| 33826 Linden Drive | $106,000 |
| 7270 Liberty | $116,000 |
| 6615 Solon Blvd | $120,000 |
| 6614 Edgemoor Ave | $130,000 |
| 6280 Sunnywood Drive | $168,500 |
| 33462 Warwickshire | $179,000 |
| 6610 Brookland | $185,000 |
| 32336 S Roundhead | $212,000 |
| 33860 Country View | $308,000 |
| 5514 Pine Ln | $325,000 |
| 5234 Crofton Ave | $375,000 |
| 7593 Royal Portrush | $486,000 |
SUMMARY
The spring market is now upon us and the fact that 34 homes went under contract last month is a great sign of increased buyer activity. Some of the homes that are selling are new on the market and some have been on for a long time. The most important factor in this activity is a renewed confidence in the economy. The $8000 first time buyer tax credit has also been helpful, especially for those buying the homes in the $100,000-$200,000 price range.
Additionally, the Solon luxury home market, which had been extremely slow during the first quarter of 2009, has shown some life as of late. Three of the homes that went under contract last month were priced over $500,000 which may be a good sign as we move forward with the spring and summer markets. The $500,000-$650,000 price range still seems to be seen as most attractive to buyers based on market statistics although a few homes priced in the $800's have recently gone under contract.
Overall, there are currently 160 single family homes on the market in Solon, with 52 of those being considered luxury homes.
As summer approaches, look for more sellers to put their home on the market. In addition, more buyers are likely to make a buying decision between now and July 15th, as many would like to move into their new home by the end of August, just in time for the start of the school year.
Check out previous Solon Ohio market reports:
Solon 2009 First Quarter Luxury Home Market Report
Solon 2009 First Quarter Market Report All Homes
February 2009 Market Report Solon Ohio
January 2009 Market Report Solon Ohio
2008 Year End Housing Summary Solon Ohio
2008 Luxury Market Report Solon Ohio
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ABOUT THE AUTHORS:
Dan and Amy Schuman are Solon residents. We use our 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. 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 Beachwood, Moreland Hills, Orange, Pepper Pike, Solon or the surrounding Eastern suburbs, please contact the Schuman Team as they would be happy to show you why people love working with them.
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