Here is our official bi-annual market report for Solon for homes sold in Jan 01 - June 30, 2013.

SOLD HOME STATISTICS SOLON OHIO - ALL SALES

 

Date                                         # of homes sold         Ave. Sales Price             

First Half 2013                           136                            $293,286

First Half 2012                           103                            $288,244

 

SOLON LUXURY MARKET

First Half 2013                             19                            $656,237

First Half 2012                             15                            $625,780

 

*source NEOHREX ( Regional MLS )

 

COMMENTARY:

The real estate market rebounded in 2012 and has continued to be extremely active through the first 6 months of 2013. 

The two main factors that helped us get off to a good start this year are an improving economy and low inventory. While the job market isn't exactly booming in Northeast Ohio, things have stabilized enough to make people feel comfortable about making major purchases, like a home.

We are seeing more activity with local move-up buyers and those relocating to the Solon area. With the move-up buyers, they are no longer afraid to move for fear of not being able to sell their existing home. In fact, many are so confident that they are actually buying BEFORE they sell.

Local companies are also more active in hiring, increasing the number of out-of-town buyers.

At the end of the year, we do anticipate overall sales and average sales price to be higher in 2013 than 2012. However, we do see the market slowing down after the "back to school" rush is over in a few weeks.