Cuyahoga County Luxury Home Market Update for 9/14/09

4th Quarter is in full swing.  So let’s check in and see what’s been going on in the Cuyahoga County Luxury home market since June. 

Currently there are a total of 303 homes listed for sale priced above $750,000 in Cuyahoga County.  These homes have been on the market an average of 180 days.  Their average list price is $1,282,101. 

As of 9/14/09 there are 7 Pending homes in Cuyahoga County over $750,000.   They have been on the market for an average of 73 days. 

Since June 1, 2009 a total of 29 homes have sold over $750,000 in Cuyahoga County.  They were on the market an average of 162 days.  The average list price of the sold homes is $1,171,827.  The average sale price is $1,021,676.  That means that sellers are getting 87.2% of their list price.

A total of 7.25 homes are selling per month over $750,000.  If there are currently 303 homes for sale in Cuyahoga County and 7.25 of them sell a month it will take 41.8 months to absorb all the homes currently on the market.

If you are selling your Luxury home what are you doing to stand out and be one of the 7 that sells a month? 

In August the Weiner Real Estate Group sold 2 of their Luxury listings.  Do you want yours to be one of the 7 to sell next month.  If you do, call Erin Oakley at The Weiner Real Estate Group at 216-410-8221 or email Info@NoPlaceLikeCleveland.com. 

The Keller Williams Greater Cleveland Charity Garage Sale

Here are some highlights of today’s garage sale!

http://www.youtube.com/watch?v=wgijZX_FKdY
 

If you missed it today, you can still check it out tomorrow!

Stop by Keller Williams Greater Cleveland Sunday from 10AM-3PM.

 

Clean Out Your Closet For A Good Cause!

It is time to clean out your closet for a good cause!

What: Keller Williams Realty Greater Cleveland is having a Charity Garage Sale!  

When: Saturday Septermber 12th and Sunday Septermber 13th  10:00AM- 3:00PM. 

Where: Keller Williams Realty Greater Cleveland 27950 Chagrin Blvd.  Woodmere OH 44122

All donations accepted!  All proceeds going to KW Cares. 

Questions, or for more information contact Erin Snyder Oakley at 216-410-8221 or by email at info@NoPlaceLikeCleveland.com

3 Three You Should Know Before You Decide To List Your Pepper Pike Luxury Home

Here are 3 things you need to know before you decide to list your Pepepr Pike Luxury Home. 

The story has not changed.  In this turbulent real estate market it is important to get the facts before you make up your mind if it is time to sell or not.  The news might be tough to read, but I would not be doing my job as a real estate professional if I did not share it with you. 

1)  Three factors sell homes in this market.  (And this pertains to any price range, so don’t let anyone tell you otherwise)

1) PRICE

2) LOCATION

3)  CONDITION

This is pretty self explanatory.  If you have the right price, for the condition of the home you should get an offer and sell your house.  Location is hard to fix, so the price has to match the desirability of the location.  For example, a  bad location shold have a  lower price or Lakefront property with a private beach will most likely have a higher price.  You get the idea.

2) Price your home ahead of the market:  This is something that not everyone is going to share with you.  mostly because they don’t know it is true.  The old way to price a home was to look at the recent sales and price the home around what houses sold that were like the subject home.  If the seller had lived in the house for a couple of years then add an appreciation to that.  Because real estate always goes up doesn’t it?!  Not the case any more.  currently recent solds are out of date. They mean nothing in todays real estate pricing game.  Get rid of them. Don’t even bother to look at them.  The most important thing is to look at your competition, all the other houses on the market like yours, and be under them and better. 

3)   How motivated are you?  If you just want to try and see if your home is going to sell.  I would say don’t bother putting yourself through this pain.  If you need to sell because you are moving out of town, need to get out from under a high priced home, or just found a better house, please see #1 and #2. 

Seems easy?  Well it is, homes today are selling.  The Weiner Real Estate Group has sold homes in every price range all over Cleveland’s East side.  The ones that are priced ahead of the market, and are in the best condition  always sell.

If you are ready to get real and sell your Cleveland Luxury Home contact Erin Oakley from the Weiner Real Estate Group at Keller Williams Realty today.  info@NoPlaceLikeCleveland.com.

More Information on Selling Your Home

This Month in Real Estate: August 2009

 http://www.youtube.com/watch?v=6O-UFD5q-HI

There have only been five months since 1970 that homes have been more affordable! 

Have you taken advantage of all the great real estate opportunities out there?

If you want to, contact Erin Oakley at The Weiner Real Estate Group at erin@NoPlaceLikeCleveland.com or by phone at 216-410-8221. 

Cleveland Luxury Homes For Sale: Market report $500,000-$1,000,000

Cleveland Luxury Homes Market report for Cuyahoga county homes priced from $500,000-$1,000,000.

The last post was a market report for 1,000,000 and above and was pretty indicative of the opportunity for buyers out there.  If we dig a little deeper and look at the $500,000-$1,000,000 price range we can get a really good idea of what is going on in our market. 

Currently there are 441 active homes listed for sale in Cuyahoga County between $500,000-$1,000,000.  These homes have an average list price of $691,382.  They have been on the market an average of 155 days.

There are 27 pending listings as of July 3, 2009 priced between $500,000 and $1,000,000.  These homes have an average list price of $703,496. 

There have been 64 sold properties since March 1, 2009. These homes had an average sale price of $624,576.  Sellers are getting about 92% of list price.  These homes had been on the market an average of 129 days. 

If we take the recent successes of solds and pendings (91) and we divide them by 4 months, we find that 23 homes sell per month.  If we have 441 homes for sale and 23 sell per month, we have 19 months of inventory in Cuyahoga County homes priced between $500,000 and $1,000,000.

We are still in a buyers market and there are amazing opportunities for buyers out there.  If you are looking for a great deal on a luxury home, call Erin Snyder Oakley with the Weiner Real Estate Group at 215-410-8221 or email Info@NoPlaceLikecleveland.com.

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Cleveland Area Luxury Home Market Report 6/27/09

Here is the Cleveland Area Luxury home (Cuyahoga County) real estate market report for June 27, 2009.

Summer is officially here.  Tempatures are high and so is the amount of Inventory in the upper end. 

Total Number of Active Listings in in Cuyahoga County from $1,000,000 and higher: 130

Total number of Pending homes in Cuyahoga County from $1,000,000 and higher: 3

The average list price of these homes is $1,431,333. 

Homes over $1,000,000 Sold since March 1, 2009: 3

Average List Price: $1,912,667

Average Sale Price: $1,488,333

Sellers are getting on average 77% list price.

If we look at total number of pendings and total number of sold for the past 4 months, we know that 1.5 homes sell per month in the upper end  in Cuyahoga County.  If there are a total of 130 active listings in Cuyahoga County over $1,000,000 and only 1.5 sell per month.  That means there is almost 8 years of inventory in the upper end in Cuyahoga County.  In other words, at this rate, it will take the market 8 years to absorb all the homes on the market.

Questions about the Upper End Real Estate Market in Cuyahoga County?  Luxury Real Estate Buyer, want to take advantage of the low prices in the upper end?  Contact the Weiner Real Estate Group.  Email  Info@NoPlaceLikeCleveland.com  or call Erin Snyder Oakley at 216-410-822. 

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How Much is Your Cleveland Luxury Home Worth

Shaker Heights Luxury Homes Market Report for 1/1/09-4/28/09

Here is the updated Shaker Heights Luxury Homes market report for 1/1/09-4/28/09.

These are current listed homes in Shaker Heights Ohio that are $750,000 and above.  These numbers are from the Multiple Listing Service.

Total Active Homes as of 4/28/09: 21

Average Days on The Market: 168

Average List Price: $1,132,619

Maximum List Price: $2,595,000

Total Pending Homes as of 4/28/09:  0

Total Sold Homes since 1/1/09: 1 

Sale Price $1,000,000

List Price/Sale Price Ratio: 83%

If 1 Luxury home sells every 4 months, and there are 21 homes currently on the market that means that Shaker Heights has 7 years of inventory!

 

Thank you for reading the Weiner Real Estate Group’s Luxury Home blog.  If you would like help buying or selling your Luxury home please contact Erin Snyder Oakley at 216-410-8221 or email info@NoPlaceLikeCleveland.com

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Pepper Pike Luxury Home Makret Report 4/27/09

Here is the Market Update for Pepper Pike  Luxury homes $750,000 and above.  These Numbers are from 1/1/09 till 4/27/09.

Total Active Lisitngs: 26

Average Days On the Market: 138

Maximum Price: $2,875,000

Total Pendings:  0

Total Sold: 2

Average sale Price: $962,000

Average Days on the Market: 40

With 2 Sales in 4 months and 26 actives that means that there is 4 years worth of inventory in the Pepper Pike Luxury Market!

 

Thank you for reading the Weiner Real Estate Group’s Luxury home blog.  If you would like help in buying a or selling a Pepper Pike Luxury home, please call Erin Snyder Oakley 216-410-8221 or by email at Info@NoPlaceLikeCleveland.com

 

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5 Ways To Make Your Luxury Home More Green!

Going Green is all the rage.  Here are 5 ways to make your Cleveland Luxury home more Green.

If you read the Plain Dealer’s Inside&Out section this morning then you saw a South Russel women’s dream of a totally self sustaining house.  This is the new trend in home living.  If you ever wondered how you could make your home more energy efficient here are some ideas to help you get started.

1) Put a Recirculating Pump Under the Sink:   Greenhomeguide.org suggests that instead of standing around and watching water go down the drain while you wait for it to heat up why not get instant hot water with an on demand recirculating device.  Installed under the sink, the pump captures the not-yet-hot water before it exits the tap and shoots it back to the water heater. The process repeats until the water gets hot enough, at which point the pump shuts off, you turn on the tap, and the steamy stuff flows. Obviously, this setup saves water. Less intuitively, it also saves energy. That’s because the water going back to the heater is usually slightly warm, so reheating it takes less energy. And the pump moves water faster than a typical faucet can, which means less heat loss in the pipes — and less waiting time for you.

2) Install a Programmable Thermostat:  While you are away at work control your furnace by programing it to shut off.  This small fix is one of the easiest to do and could save you the home owner a ton in energy bills.  Why heat a home if you aren’t there? 

3)Install Low Flow Shower Heads:  BuildingGreen.com suggests “Aging shower heads using as much as 8 gallons per minute (gpm; 30 lpm) can easily be targeted for water and energy savings. Although the federal maximum standard is 2.5 gpm (9.5 lpm), models from Bricor, Delta, Niagara, and othersoffer satisfying showers with 1.6 gpm (6 lpm) or less. “

4) Replace Your Boiler or Furnace with High Efficiency models: Not only will you be saving energy but you can now receive tax credits for buying Energy Star rated models.

5) Replace Light Bulbs to Energy Efficient Light Bulbs: Changing all the light bulbs in your house to CFL’s save money because you don’t have to change them as often.  They also use a lot less energy.  Learn more about CFL’s here.

Thank you for reading the Weiner Real Estate Group’s Luxury home blog.  If you would like more information how we can help you buy  or sell your Cleveland area luxury home please call Erin Snyder Oakley at 216-410-8221 or email Info@NoPlaceLikeCleveland.com

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