Solon Ohio Home Value Report - October 2010

Solon Ohio Home Value Report - October 2010

Before we discuss home values in Solon OH, we will first give a list of all the homes that sold in October of 2010. We will also compare last month to October 2009 and provide a year to date analysis as well.

5255 Harper Rd	$107,500
35550 Pettibone Rd	$144,000
7002 Fox Hill Dr	$155,000
5670 Emerald Ridge Pkwy #c	$156,000
32653 Pettibone Rd	$160,000
6800 Solon Blvd	$170,000
7120 Liberty Rd	$176,000
6155 Liberty Rd	$180,000
35945 Timberlane Dr	$180,000
31887 S Roundhead Dr	$208,900
34056 Southside Park Dr	$239,000
38745 Flanders Dr	$281,000
5334 Denise Ct	$355,000
7670 Acorn Ct	$360,000
32825 Shadowbrook Dr	$439,000
24-S/L Hemington Boulevard Blvd	$538,000
123 Meadow Ln	$1,700,000

All Sales # of homes sold Ave. Sales Price

Oct. 2010 17 $326,435

Oct. 2009 20 $252,160

YTD 2010 171 $299,348

YTD 2009 206 $290,493

*source NEOHREX ( Regional MLS )

COMMENTARY:

Last month, the number of home sales was down compared to the same period of time last year, but the average sales price was higher. Year to date figures above show a similar trend. We are seeing about 3 less home sales per month this year compared to last year, although the average sales price is higher.

So, what does this have to do with home values in Solon? For starters, the average sales price is higher, which is certainly a good sign. However, finding the true value of a home in Solon is more complex than looking at the information listed above. Some neighborhoods are doing better than others, and some price points are more popular as well. Therefore, it is difficult to make a blanket statement by saying that the value of homes in Solon is going up by X% this year. It's probably safer to say, based on market statistics, that the market in general has stopped declining, and that certain neighborhoods have been holding their value pretty well despite the downturn in the local real estate market.

Overall, Solon is seen as a highly desirable area to live based in large part to having one of the top school districts in the nation. If you are buying or selling a home and want to know about home values of a specific home in Solon, a local real estate agent, someone who knows the inventory inside and out, will be able to best help you.

Below Are Other Articles Of Interest Relating To Solon OH home value:

Solon Luxury Homes - Year In Review 2009

Solon real estate - year in review 2009

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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 Cleveland Oh real estate and homes see Cleveland OH real estate

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

LET'S CONNECT:

Solon Ohio Home Value Report - October 2010 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©November, 2010