West Chester & Liberty Township OH Real Estate Market Breakdown – July 2011
It’s time to breakdown the West Chester & Liberty Township Ohio real estate market again. In the real estate market breakdown we take a look at which price ranges are in the best shape from a home sellers perspective in West Chester Ohio and Liberty Township, Ohio and which are not? The best way to measure the general strength of the West Chester & Liberty Township, Ohio real estate market and to break down it’s different price ranges is to evaluate the amount of homes for sale in both the total area and also in each different price range.
As you can see in the chart below, there is clearly more activity in some price ranges than others and certainly more homes for sale in some of the ranges also. In each of the different price ranges you can see the number of homes for sale, the number of homes that have sold in the last six months and the months supply of homes for sale.
The number of homes for sale is a pretty straight forward statistic, the number of homes that have sold in the last six months is used to determine the rate that homes are currently selling. The key number in this chart is the months supply of homes for sale.
If we were in a seller’s market we would show a month’s supply of less than 5 months inventory, 5-6 months supply of homes for sale is considered a neutral market favoring neither homebuyers or homesellers and anything over 6 months is considered a buyer’s market. The higher the number of months of inventory the stronger the buyer’s market.
Clearly we can see that a number of price ranges are in a more extreme buyer’s market than others. It’s no surprise that we are in a buyer’s market, but the intensity of the buyer’s market in the higher price ranges is quite extreme. When listing a home for sale you must understand the level of pricing pressure and competition so that you employ the correct pricing strategy in selling your home.
Please keep in mind that these statistics are for West Chester Ohio and Liberty Township, Ohio only and are based on data obtained from the Greater Cincinnati MLS. When making pricing decisions and putting your home on the market be sure that you have not only looked at the recently sold homes in your neighborhood, but also at the active competition currently on the market and the direction of the current market. Especially in your home’s particular price range.
Do you want to track the real estate market activity in your West Chester or Liberty Township Ohio neighborhood? Get a free, comprehensive real estate market report sent directly to your inbox at >> Home Values In West Chester Ohio.