Solon Ohio Real Estate- First Quarter Market Report 2009

Real Estate Agent with Howard Hanna Real Estate Services

The first quarter saw 34 homes officially sell here in Solon, Ohio.

The graph below shows the breakdown of the specific number of homes that sold during the first quarter in different price brackets.


solon home sales graph


Here is how the first quarter of 2009 compares with the same time period from 2008:


Year # Of Sold Homes Ave. Sale Price Ave. Market Time Ave. Price/Square ft.
2009 34 $273,418 117 $90.79
2008 41 $336,878 115 $116.98

Summary: The number of homes and market time aren't too far off from last year's figures. However, the average sales price is down from 2008. There are a lot more lower priced homes being sold and fewer luxury homes being sold, causing the average sales price to decrease. This may be a result of bargain hunters snatching up lower end homes during the winter months. The first quarter is usually the slowest, so these figures may have no bearing on how end of the year statistics end up.

Solon has been ranked as the number one suburb by Cleveland Magazine for the last 2 years. Solon also has one of the highest ranked schools systems in the state and offers great amenities. The fact that Solon has become more affordable to a larger number of home buyers offers a tremendous opportunity for the spring home buying market.

Click below to view other articles pertaining to Solon:

Solon Ohio - A Special Community

Solon Ohio Real Estate: Housing Market Statistics - Sold Homes 2009

Solon Ohio Real Estate: Luxury Home Marketing Report Feb. 2009

Solon Real Estate - Monthly Marketing Report February 2009


About The Authors:

Dan and Amy Schuman are Solon residents. They 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 the Schuman Team's listings sold in less than 60 days.

The Schuman Team specializes in luxury homes. They are founding members of the Luxury Home Consultants of Keller Williams Realty Greater Cleveland and also members 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 Bainbridge,BeachwoodMoreland HillsOrange, Pepper Pike, Solon, or the surrounding Eastern suburbs of Cleveland, please contact the Schuman Team as they would be happy to show you why people love working with them.

To see all homes currently on the market in the Cleveland Ohio area, click here. For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235.

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Vanessa V. Simmons
Real Living HER - Columbus, OH

Not really much good news here actually no good news.  Do you see any positive signs in your area?

Apr 02, 2009 01:31 PM #1
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Vanessa - Certain suburbs are holding their own. I still see a lot of the bank owned homes being bought up. Let's see what the next 90 days brings us.

Apr 02, 2009 02:58 PM #2
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