Today we look at the market of Solon.  Market times in Solon are a little less then Shaker Heights and Pepper Pike. Pending homes have only been on the market an average of 65 days.  Please notice that all three markets are accepting around 90%-95% of list price.  This means that once a house is priced right it sells.  We can't stress enough the importance of price.  If you start too high, you will be one of those people that ends up on the expired list.  Buyers only look at what they can afford.   If you plan to price your house higher so when you negotiate you come down to where you want to be, your house is going to sit on the market for a really long time.

Take a look at the Solon stats below.  Remember, these are as July 14. 

Solon Market Report

There are 228 active listings on the market in Solon.

These homes have been on the market an average of 107 days.

Homes that are now under contract are the most recent successes, these sellers have reached their goals.

There are currently 31 pending listings in Solon.

These homes have been on the market an average of 65 days.

Homes that have recently sold are historic indicators of perceived value. Appraisers will use this data when determining the loan value of your home.

There were 115 properties sold in the last 6 months in Solon.

These homes were on the market for an average of 99 days.

The average sale price of $337,262, divided by the average list price of $363,909, tells us

that sellers are accepting, on the average, 92% of the list price.

Homes that have been on the market and never sold tell us a story.

The total number of market rejected homes (expired listings) in the last 6 months is 130.

These homes have been on the market an average of 180 days.

If you take the Pending listings (31) + the total sold listings (115)  they equal 146 recent successes in the past 6 months.

146 recent successes divided by 6 months = 24  homes that sell per month.

228 active listings divided by 24 homes that sell per month = 9.5 months of inventory in Solon as of July 11, 2008.

When pricing your home, it is very important to price your home according to the market. Contact the Weiner Real Estate Group to give you a Complimentary Market Analysis today if you planning on selling your home in the near future.