West Chester and Liberty Township Ohio Real Estate Market Report
West Chester and Liberty Township Ohio Home Sales were flat when compared to the sales in West Chester and Liberty Township in July 2014. The 176 closed home sales in West Chester and Liberty Township in July is exactly one more than July 2014. Sales remain at the highest levels that we have seen since 2005. The ability for the sales levels to continue to increase is limited right now by a shortage of available homes for sale.
West Chester and Liberty Township Ohio Average Sale Prices were up 5.04% in July 2015 when compared to July of 2014. Average sale prices for West Chester and Liberty Township for year to date 2015 are now up 3.82% compared to 2014. The trend with home prices continues to be one of gradual and steady increases.
Days On Market for West Chester and Liberty Township Homes that closed in July 2015 was 61 which is virtually the same as July 2014. 61 days on market is historically a very low number and continues to reflect the fact that nice homes priced correctly are selling very quickly.
List to Sale Price Ratio for homes sold in West Chester and Liberty Township Ohio in July 2015 was 97.19% which is slightly higher than July 2014’s 96.51% These 97% plus ratios are very high and are also an indicator of both market strength overall and the continued shortage of homes for sale. Homes on the market less than 30 days sold for 97.91% of list price in July.
The Inventory of Homes for Sale in West Chester and Liberty Township has been low for quite some time now and has even dropped slightly lower. The current level of supply is at 3.3 months of inventory of homes for sale. 6 months supply reflects a balanced market, anything less than 6 months represents a seller’s market, which we are clearly in.
Interest Rates in the West Chester and Liberty Township area remain very low and have largely been very stable. The current rate for a 30 year fixed rate loan is approximately 3.99% for a conventional loan and approximately 4.25% for an FHA loan.
For more information on the West Chester and Liberty Township Ohio real estate market contact:
Eric Lowry, Team Leader & Listing Specialist 513-368-3751