Quarterly Market Reports On Sold Homes

Here is our monthly market report for real estate in Solon OH for the month of May, 2018.

HOMES SOLD IN SOLON - MAY 2018

ADDRESS                   PRICE   

35590 Solon Rd     $192,000

6577 Brookland     $194,400

33155 E. Nimrod    $210,500

6629 Duneden       $215,000

33103 Cromwell     $251,000

32302 Springside   $280,000

33005 Pettibone    $287,000

33385 Arlesford     $290,000

6531 Creekside Tr  $295,000

32777 Springside   $305,000

37630 Bunker Hill   $315,00

36825 Aurora        $320,000

34765 Sherwood Dr$325,000

34625 Blue Heron   $339,000

32687 Springside    $352,500

36425 Aberdeen     $362,500

33346 Lisa Lane     $369,500

6894 Silkwood       $371,175

34175 Ada Dr        $380,000

6228 Chagrin H.     $382,000

33855 Camberly     $395,000

35585 Michael Dr   $490,000

38711 Gaelic Glen   $512,500

6570 Dorset Lane   $575,000

7360 Hillside Lane   $635,000

6693 Winston Lane $642,500

7548 Royal Portrush $785,000

 

SOLD HOME STATISTICS SOLON OHIO - MAY 2018

Date                                         # of homes sold         Ave. Sales Price             

May 2018                                       27                            $373,021

May 2017                                       39                            $325,065

*source NEOHREX ( Regional MLS )

COMMENTARY:

Home sales for 2018 lag behind 2017 primarily due to a lack of inventory. There are certainly plenty of buyers, specifically in the sub $500,000 price point. However, the limited number of homes for sale has hurt overall sales.

The average sales price of homes that sold last month is unusually high. This is due to very few homes in the below $200,000 price point selling last month. This particular sector of the market significantly lacks inventory. In fact, there are currently only 2 homes on the market in this price point.

We have seen over 20 homes come on the market over the last 30 days. While inventories are still low, this will certainly help. We also expect to see more come on the market over the next 2-3 weeks as the summer market heats up.