Beachwood, OH

Why Would You Be Waiting For Spring Time To Sell Your Beachwood OH Home?

It's not a secret that many home sellers in Greater Cleveland postpone listings of their homes till Spring time. Usually it is worth it because our winters may be not so pleasant, and it's harder to show the houses during snow days.

Selling homes in winter may be also challenging because there are usually fewer home buyers on the Winter market than in Spring time.

Not this year. Working with home buyers, we run into situation when it's more buyers than matching homes. And I'm not talking about serial Deal seakers. I am talking about the first time home buyers or moving up buyers who need a good place for their families to live.

Let's look at the popular Beachwood OH Real Estate market. Per NorthEastern Ohio Multiple Listing Services (NORMLS), there were 78 single family homes sold in 2011. As of 01/28/2012, only 29 houses in Beachwood are offered for sale. Most of these houses have been on the market for a while - we see even the one with 934 days on the market. Average DOM (Days On Market) is 204, Cumulative average DOM is 249 days.

Winter Buyers' activity is pretty high, that's why we have 18 houses which are currently under the contract - in contingent or pending status. BTW most of these homes found their buyers after long time on the market - average DOM of over 230 days. That's a good news.

Bad news is that there are not enough homes for the active and ready buyers. Let's look at the market data. In 2011 therer were 31 homes sold in less than 60 days on the market. And 17 homes sold in less than 30 days!

Dear owners of Beachwood OH homes!

If you need to sell this year, if your house is in a good marketable condition, if you know that you need to move, please don't hesitate to call us and put your home on the market. 877-70-5551 x 801 is the right number to call. It's 24/7 Hotline, and we'll be happy to answer your questions about the pricing, marketability, staging and marketing for the best possible sale of your home.

Why would you wait till Spring when competition will be more harsh? Buyers are on the market. They may be waiting for your home.

Call 877-770-5551 x 801 now.

Beachwood OH Real Estate 44122 - Home Value Report First Quarter 2011

Before we discuss the state of home values in Beachwood, OH, specifically in the zip code 44122, we will first provide a list of all the homes that sold during the first quarter in 2011. Then, we will show a comparison of March 2011 to March 2010, provide a statistical comparison between the first quarter of 2011 to last year, and finally provide commentary.

27500 Cedar #809	$89,000
24105 Edgehill Dr	$158,000
2930 Richmond Rd	$185,000
2541 Elmhurst Dr	$190,000
25940 Hurlingham Rd	$190,000
21026 Almar Dr	$202,500
24707 Albert Ln	$205,000
2618 Deptford Dr	$217,500
12 Chelsea Ct	$220,000
19 Deerfield Ln	$230,000
23227 Wendover Dr	$238,000
25418 Halburton Rd	$290,000
24442 Meldon Blvd	$360,000
2513 Fairwood Court	$515,000
24875 Woodside Ln	$1,100,000

All Sales # of homes sold Ave. Sales Price

March 2011 6 $204,500

March 2010 8 $259,245

First Quarter 2011 15 $292,667

First Quarter 2010 16 $279,685

*source NEOHREX ( Regional MLS )

COMMENTARY:

It's hard to believe that the first 3 months of the year are over. Overall, the Beachwood real estate market is holding its own compared to last year. We are still not seeing a lot of direction one way or another in terms of home values, but the warming weather will hopefully spur home buying as we enter the spring market. The fact that Cleveland was recently featured as one of the top Cities To Buy A Home could also help.

Traditionally, Beachwood has a limited housing inventory, so there is typically never an over supply of homes on the market. Beachwood is also viewed as a highly desirable area in which to live and work as it offers easy access to I271, superb amenities, excellent rated schools and some of the best shopping in all of Ohio.

Below are other articles of interest pertaining to Beachwood OH Market Reports:

Beachwood OH Real Estate - Year End Report 2010

Beachwood OH Real Estate - Bi-Annual Market Report 2010

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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 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 Oh 44122 - Home Value Report First Quarter 2011 is the property of The Schuman Team and may not be duplicated or used without their written consent. ©April, 2011

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

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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 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

Beachwood Ohio Home Values Report - November 2010

Below are all homes that sold in Beachwood in November, 2010. We have also included a map indicating where all sales took place. The plus signs on the map indicate that more than one home sold in that particular area.

We will discuss the direction of home values in Beachwood OH at the bottom in the commentary section.

3630 Concord Dr	$80,500
24181 Bryden Rd	$156,000
2642 Ramsay Rd	$165,000
9 Stratford Ct	$210,000
4 Windrush Ln	$215,000
4 Saratoga Ct	$225,000
4 Dorset Ct	$243,000
3281 Havel Dr	$253,000
23200 Halburton Rd	$343,000

All Sales # of homes sold Ave. Sales Price

November 2010 9 $210,056

November 2009 13 $227,538

YTD 2010 93 $276,995

TYD 2009 110 $262,294

*source NEOHREX ( Regional MLS )

COMMENTARY:

We will probably start sounding like a broken record to our readers but the trend of less sales and higher average sales price continues. This is about the 6th straight month that we have reported this trend.

When it comes down to it, there are less than 2 sales per month difference this year compared to 2009, so the numbers here certainly aren't drastic. It is always a little concerning though that rates continue to remain low yet sales figures are lower than last year.

We believe that home values in Beachwood have stabilized, and that the worst is behind us. The economy still plays a major part in consumer confidence and people here in Northeast Ohio are being very cautious when it comes to major purchases such as a home. Housing is typically at a premium in Beachwood because of the usually small inventory. There are currently only 56 single-family homes for sale.

We think there are a lot of buyers on the fence, just waiting for some more positive signs regarding the economy before they move forward on buying a home. The winter months are typically the slowest time of the year, so we won't be surprised to see low sales number over the next few months.

Overall, Beachwood is deemed a very desirable community to live and work because of easy highway access, excellent rated schools, and being in close proximity to the area's best shopping and restaurants.

Below are other articles of interest pertaining to Beachwood OH Home Values:

Beachwood OH Real Estate - Home Value Report 3rd Quarter 2010

Beachwood OH Real Estate - Monthly Market Report August 2010

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

Beachwood OH Home Values - Report October 2010

Before discussing the direction of home values in Beachwood OH, we will first give monthly and yearly statistics for sales and average sales price. Commentary will be provided.

Here is a list of all homes that sold in Beachwood in October, 2010.

23317 Beachwood Blvd	$138,175
24005 E Silsby	$160,000
24602 Meldon Blvd	$340,000
24780 Letchworth Rd	$380,000
4 Kenwood Ct	$445,000
2408 Beachwood Blvd	$735,000

All Sales # of homes sold Ave. Sales Price

October 2010 6 $366,363

October 2009 11 $287,591

YTD 2010 83 $284,067

TYD 2009 97 $266,952

*source NEOHREX ( Regional MLS )

COMMENTARY:

Last months' sales figures were similar to the trend we've seen for the year, lower number of actual sales but higher average sales price.

When looking at home values in Beachwood, the statistics above should not be used to make a blanket statement on the overall market. Just because the average sales price is up 6.4% does not mean all Beachwood homes have increased in value by this amount as there are too many other factors that come into play.

It is fair to say that homes in Beachwood, because of limited inventory, typically hold their value over time better than many other area suburbs. There are certainly neighborhoods and price points that are deemed more desirable by local home buyers, and these homes may in fact see better gains in terms of home values.

If you are looking to buy or sell a home in Beachwood, the best way to quickly find out what your home is worth is to click on the box below and you can sign up for a market report for your specific area. We also recommend enlisting the services of a local real estate agent at some point during the process. There is no substitute for the market knowledge that an agent can give you.

Overall, Beachwood is deemed very desirable by those relocating to the Beachwood OH area due in part to easy access to the highway, excellent rated schools, and being in close proximity to the area's best shopping and restaurants.

Below are other articles of interest pertaining to Beachwood OH Home Values:

Beachwood OH Real Estate - Home Value Report 3rd Quarter 2010

Beachwood OH Real Estate - Monthly Market Report August 2010

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