December 2007 Home Sales For West Chester & Liberty Township, Ohio
2006 | 2007 | + / – | |
Closed Units | 100 | 79 | -21.00% |
Average Sale Price | $241,617 | $253,213 | +4.80% |
Average Days On Market | 80 | 102 | +27.50% |
Average List to Sale Price % | 97.54% | 95.72% | -1.82% |
So, one by one let’s review…
Number of closed units, not good. Down by 21.00% is not a good sign at all. Yes, it was December, but that is compared to December of 2006.
Average sale price was up to $253,213 in December. This is probably the most over examined statistic in real estate today. What is doesn’t mean is that prices are rising, they are not. What it simply means is, the average price of the homes that did sell, was higher.
The average days on market moved up to an average of 102 days on the homes that closed in December. A very large increase over December 2006 that really bears watching.
The list price to sale price ratio was considerably lower in December. In December of 2006 homes that sold in West Chester and Liberty Township sold for an average of 97.54% of list price vs. 95.72% in December of 2007.
For a bit of really good news… look to mortgage rates which are hovering around 5.65% for a thirty year fixed rate mortgage. These are unbelievable times to be buying a home!
I will continue to monitor these market numbers for West Chester and Liberty Township Ohio and will share them as they become available.
I would love to hear your thoughts as well!
