Orange Real Estate - 2009 Year End Home Statistics

Orange Real Estate - 2009 Year End Home Statistics

Here is our official 2009 Orange Real Estate year in review complete with a comparison to 2008.  

All Sales           # of homes sold         Ave. Sales Price              Ave. Days on Market 

2009                        42                        $259,121                             100  

2008                        37                        $301,994                              90

Highest Sale = $750,800

Lowest Sale = $87,500

Commentary:

Overall, it was a mixed year for Orange real estate. We did see more homes sell in 2009 but at a lower average sales price. The main reason for this is due to the sale of so many homes under $200,000. A few years ago, buying a home in Orange for under $200,000 was rare. Even in 2008, we had only 8 home sales under the $200,000 price point. However, 2009 saw 16 sales in this price range, due in large part to distressed properties. The economy has had an affect on all of the suburbs, including Orange.

In terms of Orange luxury homes, those priced over $500,000, we saw an equal amount of sales in 2009 ( 3 ), as in 2008, so the news in this market is not too discouraging.

Moving forward, we believe we'll see an increase in the amount of homes that sell in Orange this year, with the average sales price either remaining the same or increasing slightly. There will still be a large number of sales in the lower price points, and we expect to see the Orange luxury home market increase as well as buyers take advantage of the move up tax credit and stabilizing economy.

Below are other articles of interest relating to Orange home statistics:

2008 Year End Home Statistics

2009 Third Quarter Market Report

2009 First Quarter Market Report

Orange Schools Make Newsweek's Tops List

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans are experts in the Cleveland Ohio real estate market and specialize in luxury homes, home staging, and working with buyers relocating to Cleveland.

If you are looking to buy or sell a home in  Orange or the surrounding Eastern suburbs, please contact the Schuman Team at 216-346-3235. 

VIEW ALL ORANGE HOMES FOR SALE BY CLICKING BELOW:

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Orange Real Estate - 2009 Year End Home Statistics is the property of The Schuman Team and may not be duplicated or used without their written consent. ©Jan,2010