Orange, OH

 

Orange OH Year End Market Report 2010

 

 

 

Here is our official 2010 year in review for Orange Oh real estate, complete with a comparison to 2009. We will provide commentary after giving statistics on the Orange housing market.

Year      # of Homes Sold        Ave. Sales Price              High                  Low

2010                      42                     $279,598                $875,000             $75,900

2009                      42                     $259,121                $750,800             $87,500

 

Here are all 2010 home sales in Orange broken down by price points with average days on market noted:

 

Source: NEOHREX

Commentary - Based on the statistics above, real estate in Orange Oh was better in 2010 than in 2009. The number of sales was the same, but the average purchase price went up. In terms of luxury home sales in Orange, we saw 3 in both 2009 and 2010.  Luxury home sales are defined as those being over $500,000.

When we analyze at the Orange real estate market, we also take into consideration neighboring communities Pepper Pike and Moreland Hills as they are all part of the Orange School District. All three communities had better years in 2010, leading us to believe that we have seen the bottom and things are beginning to improve. We don't foresee a lot of appreciation at this point, however.

Orange Ohio is a very small community of about 3000 people, and therefore has very few home sales in any given year. It is in close proximity to the airport and downtown Cleveland, making it a popular destination for people relocating to Cleveland.

View Orange Village Ohio 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 Orange Oh real estate and homes see  Orange OH real estate

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

 

 

 

 

 LET'S CONNECT:

 

Orange OH 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

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

Before discussing home values in Orange, we will first give a list of all homes that sold in Orange during the 3rd quarter. We will also show a comparison between this year and 2009.

29999 Miles Rd	$100,000
28700 Pike Dr	$195,000
30250 Jackson Rd	$205,000
61 W Stonebrooke Dr	$220,000
31400 Woodcrest	$225,000
3855-3 Pecan Ct #B	$315,000
3918 W Meadow Ln	$350,000
3881 Chestnut Ct #R3	$402,000
455 Nob Hill	$465,000
285 Orange Tree Dr	$490,000
3955 Waterford Ct	$875,000

All Sales # of homes sold Ave. Sales Price

Third Quarter 2010 11 $349,273

Third Quarter 2009 14 $246,850

YTD 2010 32 $281,003

YTD 2009 26 $266,827

SUMMARY

Overall, Orange OH home sales are doing better this year compared to 2009 in both total number of sales and average sales price. Although the third quarter sales numbers were not as high as last year, overall numbers are better, which is really more important. Frankly, we don't necessarily put more weight into whether or not a home sells in April or July, unless we see a significant drop-off from one quarter to the next, in which case this may indicate a slowdown. The trend compared to last year is in a positive direction, and that is what we want to highlight here.

When looking at home values in Orange, it is important to understand that real estate is not only local, but hyper-local, even by specific neighborhood. National real estate statistics are not at all helpful when it comes to figuring out one's home value because it paints much too broad of a picture. Even looking at how the Midwest is doing or Cleveland as a whole isn't accurate either.

The average sales price of a home is up this year in all three communities that share the Orange School District; Pepper Pike, Moreland Hills, and of course, Orange. So, we believe it is fair to say that home values have certainly stabilized here. Whether or not they are increasing is still up for debate. There are those who will look at these statistics and conclude that home values in Orange are going up. However, there are those who believe that the fewer number of distressed sales has been the real factor in keeping average sales prices from dropping and that things are really just stable, not actually increasing.

While looking at trends is helpful, determining the actual value of a specific home is much more difficult, as all homes are unique. If you want to know the value of a specific home in Orange OH or surrounding areas, it really is best to contact a local real estate expert, someone who really knows the inventory. At the end of the day, there is no substitute for market knowledge.

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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 andOrange Oh real estate and homes see Orange OH real estate

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

VIEW ALL ORANGE OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

Orange Oh Real Estate - Home Value Report 3rd Quarter 2010O is the property of The Schuman Team and may not be duplicated or used without their written consent. ©October,2010

Orange Schools: New Families Orientation

It's an exciting time of year for many families who chose to move to Orange School District. School will start very soon, and kids and their parents will benefit from one of the most brilliant educational systems in Ohio.

New residents of Pepper Pike, Orange, Hunting Valley and Moreland Hills are getting themselves prepared to meeting with teachers and staff of Orange Schools. Orange is famous for its warm reception of new families!

I remember how almost 12 years ago our family relocated to Moreland Hills. We were thrilled with all the attention, care and incredible professionalism of Orange teachers and staff. Being recent immigrants, our boys received excellent English as Second Language classes. I am so grateful to parents of O students who volunteered their time and love to teach our younger son English, too!

I can't find right words of gratitude and appreciation for all people in Orange schools who cared about our older son when he got his cancer treatment and needed so much of special attention. Thank you, thank you, thank you! God bless all of you!

Wonderful community, excellent academic opportunities, programs for kids with special needs, endless possibilities for gifted children, creative arts, technology, athletics - everything is open and available for families who live in Orange School district.

Please mark your calendar and come to New families orientation to Orange Schools 08/17 - 08/19/2010.

Welcome!

Orange OH Real Estate - Orange Home Statistics Spring 2010

Here is an unofficial list of all Orange Oh real estate sales during the first quarter of 2010. A summary with a state of the market will follow.

4200 Brainard Rd	$75,900
4949 Lander Rd	$122,000
29450 Jackson Rd	$160,000
28399 Pike Dr	$170,000
29599 Emery	$175,000
31150 Woodcrest Rd	$191,500
3909 Beechmont Trl	$322,500
4069 Orangewood Dr	$325,000

SUMMARY

Overall, Orange OH home sales were better during the first quarter of 2010 than during the same time period in 2009. So far this year we have had 8 sales at an average sales price of $192,738. Last year saw only 3 sales during the first 3 months of the year at an average sales price of $157,700.

In terms of current market activity, there are 9 homes under contract and most should transfer within the next 60 days. The significance of these homes is that 3 of them are currently priced over $500,000, indicating a willingness of luxury home buyers to get off the sidelines and start buying again. This should help increase the average home price in Orange, especially since there are typically few transactions in a given year in this very small town.

The tax buyer credit certainly helped many surrounding communities, especially those with home values predominantly under $200,000. However, although time will tell the affect of the credit on Orange OH real estate, it could have been a factor as those selling to first-time buyers are moving up and buying homes in Orange and surrounding suburbs.

It will be interesting to see how second quarter home statistics play out, but indications are leaning toward a stabilization of the local real estate market. Lower interest rates and increased consumer confidence should actually make 2010 a better year in real estate than 2009.

Below are articles of interest pertaining to other suburbs on the East side of Cleveland:

Beachwood Real Estate - First Quarter Market Report 2010

Pepper Pike Real Estate - First Quarter Market Report 2010

Solon Real Estate - First Quarter Market Report 2010

Twinsburg Real Estate - First Quarter 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 Orange Oh real estate and homes see Orange OH real estate

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

VIEW ALL ORANGE OH HOMES FOR SALE BY CLICKING BELOW

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

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

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:

CHECK OUT THE SCHUMAN TEAM'S AWARD-WINNING WEBSITE

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