Beachwood Ohio Real Estate - Year End Market Report 2010
Here is our official end of the year market report for Beachwood Ohio for 2010. We will provide an analysis comparing last year to 2009 and then offer commentary.
Year # of Homes Sold Ave. Sales Price High Low
2010 104 $270,145 $750,000 $68,000
2009 117 $258,802 $650,000 $62,000
Here is a breakdown of 2010 home sales in Beachwood by price bands:
| Selling Price Range | Quantity | Average DOM | |
| $60,000 thru $69,999 | 1 | 180 | |
| $80,000 thru $89,999 | 2 | 140 | |
| $90,000 thru $99,999 | 1 | 57 | |
| $100,000 thru $119,999 | 4 | 112 | |
| $120,000 thru $139,999 | 4 | 40 | |
| $140,000 thru $159,999 | 9 | 82 | |
| $160,000 thru $179,999 | 11 | 89 | |
| $180,000 thru $199,999 | 6 | 69 | |
| $200,000 thru $249,999 | 17 | 134 | |
| $250,000 thru $299,999 | 14 | 81 | |
| $300,000 thru $349,999 | 15 | 112 | |
| $350,000 thru $399,999 | 8 | 80 | |
| $400,000 thru $449,999 | 3 | 112 | |
| $450,000 thru $499,999 | 1 | 164 | |
| $500,000 thru $549,999 | 1 | 130 | |
| $550,000 thru $599,999 | 1 | 463 | |
| $600,000 thru $649,999 | 2 | 113 | |
| $650,000 thru $699,999 | 2 | 46 | |
| $700,000 thru $749,999 | 1 | 231 | |
| $750,000 thru $799,999 | 1 | 40 | |
| 103 |
Source: NEOHREX
Commentary: As you can see from the numbers listed above, home sales in Beachwood were lower in 2010 than in 2009. However, the average sales price did increase. In addition, the most popular price point for sales last year was $200,000-$350,000. In fact, home sales in this price range made up approximately 45% of all sales.
Moving forward, we don't see 2011 sales being too far off from what they were in 2010. While interest rates are still near historical lows, the economy is moving slowly and consumer confidence is not high enough to indicate that a housing frenzy is coming any time soon. However, it is important to note that what happened to the housing market from 2003-2006 was very unusual, and that quick gains seen in home values during this time will likely never occur again. It is possible that we will be in a slowly moving market for quite a while.
However, if you are in the market to buy or sell a home, please take solace in knowing that in any market, there will always be buyers and sellers coming together. In addition, real estate in Beachwood is always very sought out as it offers ideal location, a fantastic housing stock, and is in close proximity to some of the best shopping in all of Ohio.
View Beachwood in a larger map
--------------------------------------------------------------------------------------------------------------------
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 Beachwood Oh real estate and homes see Beachwood Oh Real Estate
For a personal consultation or to speak directly to The Schuman Team, call 216-346-3235 or email.
LET'S CONNECT:
Beachwood Ohio Real Estate - Year End Market Report 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©January, 2011
<
Comments(0)