Solon Ohio Real Estate - Bi-Annual Market Report 2011

Solon Ohio Real Estate - Bi-Annual Market Report 2011

The following is our official bi-annual market report for the first half of 2011 for Solon Ohio. We will provide a comparison between 2011 and 2010 and add commentary for the state of the market. 

Date                   # of homes sold      Ave. Sales Price              

June 2011                26                      $293,348                    

YTD 2011                 102                     $276,951

June 2010                28                      $349,002

YTD 2010                 101                    $297,144

*source NEOHREX ( Regional MLS )

Commentary

It's hard to believe but the year is half way over. In the beginning of the year, we were curious see how things would fare as the second half of 2010 ended on a slow note compared to the first half. As you can see from the figures above, the number of sales is actually higher than last year. Although this may not seem important, last year's figures were inflated as a result of the first time buyer tax credit. Taking things into consideration, we conclude that 2011 is doing fairly well here in Solon.

Even though the average sales price is off a little from last year, the figures are a bit misleading. There were quite a few lower-end sales priced under $100,000. This was caused by a fairly large amount of distressed properties selling, many of which had been lingering on the market since last year.

In terms of Solon luxury homes, numbers are similar to last year. Sales this year are now at 13 with an average price of $628,846 and last years numbers at the half way point were almost identical at 14 and $627,304 respectively.

Moving forward, there are 42 homes currently under contract, 4 of which are luxury homes, and still a lot of buyers on the sidelines. We anticipate July to be busy as many buyers are looking to move into Solon before the school year begins

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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 Solon Oh real estate and homes see Solon OH real estate

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

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Solon Ohio Real Estate - Bi-Annual Market Report 2011 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©July, 2011