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 August 2013. The 167 closed home sales in West Chester and Liberty Township in August remains 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 19.64% in August 2014 when compared to August of 2013. Average sale prices for West Chester and Liberty Township for year to date 2014 are now up 10.51% compared to 2013. The trend with home prices continues to be positive.
Days On Market for West Chester and Liberty Township Homes that closed in August 2014 was 66 which is the same as both August 2013 and July 2014. 66 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 August 2014 was 97.15% which is just slightly lower than July 2014’s 97.43% 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 98.32% of list price in August.
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 3.5 months worth of homes for sale compared to last month when the month’s supply was 3.8.
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 4.25% for a conventional loan and approximately 4.125% for an FHA loan.
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