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REAL ESTATE NOW Cincinnati Market Update – March 2021

March 9, 2021 by Eric Lowry

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What’s going on in real estate now? Find out in this Cincinnati market update!

As you probably know, the Cincinnati real estate market right now in most areas and price ranges is going absolutely crazy. Homes are selling in just hours after being listed, getting numerous offers, and are selling above list price. Sometimes by quite a large amount! Not to mention the fact that there is a major shortage of homes for sale. It’s an unprecedented situation, so let’s dive into the details.

Is now a good time to sell my Cincinnati home?

In the last three months, home sales are up anywhere from 12-20% over the same period in 2020. This is a huge increase for our area! It’s important to note that same period last year was also a very strong period in real estate. So if you have been considering possibly selling your home, now is the very best time to find out what it might sell for in today’s market, and what the best timing and strategy might be for that.

You can get an idea of what your home might sell for at www.CincyHomeValuesNow.com. This home valuation tool will give you a starting point for estimating what your home might be currently worth.

However, a better solution would be to schedule a time for us to come out and give you an actual market analysis. You’ll get a more detailed, accurate idea of what your home will sell for in today’s market, and what the optimal strategy is to get you the best price possible. Right now is very likely the best time we are going to see this year to get top dollar for selling your home.

The best time to sell is when there are plenty of buyers and when the competition is very low. And right now we are at such a low level of homes available for sale, it’s unprecedented. Meaning, if you’ve got a home to sell, you are a hot commodity, completely in command. You will be able to dictate terms and get the very top dollar for your home.

Everyone wants to sell at the top, and currently 2021 is as near the top as we will probably get. In 23 years of selling real estate, I have never seen anything like this. However, it’s not something that will likely be sustainable long term. So, if you have a home to sell, this is your moment.

Is now a good time to buy a house in Cincinnati?

Now, if you’re a buyer, you may be thinking, “Well this doesn’t sound so good for me right now.” But actually that’s not true. There are couple things you have to keep in mind when buying in today’s market.

The first thing – low interest rates. Rates are historically low right now. These crazy low rates that we’re seeing are definitely fueling the market and the activity, but they are also a historic opportunity to borrow money at a significantly lower cost. Low interest rates dramatically lower monthly payments, making homes more affordable even though we are seeing higher prices.

The other thing to think about is if you’re thinking of delaying your purchase until the market “cools down”, you will be buying a home when the interest rates are potentially significantly higher. And the home that you might have bought this year will cost more in a year or two years. Thus you are paying more for the home, and you are paying more for the money you’re borrowing to get the home. That means your monthly mortgage payment would be significantly higher than if you buy today. So the moral of the story is, waiting will cost you money.

So if you’re thinking about buying a home or selling a home, please reach out to us and let us know what we can do to assist you.

Call or text Eric Lowry at 513-368-3751.

Filed Under: Eric Lowry's Articles, Market Update, Real Estate News, Sellers Tagged With: Best Real Estate Agents in Cincinnati, Buying a House in a Seller's Market, buying a house in Cincinnati, Cincinnati Market Update, Cincinnati Real Estate Market Update, Eric Lowry, exp Realty, exp Realty Ohio, selling a house in Cincinnati, The Lowry Team Cincinnati, The Lowry Team exp Realty, Top Realtors in Cincinnati

Cincinnati Real Estate Market Report February 2019

March 21, 2019 by Eric Lowry

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Under $200,000 Under $300,000 Under $400,000

Market conditions in our area are currently a “tale of two markets”. First, we have the luxury market where we are seeing a much longer average of days on the market, and a much larger supply of homes for sale.

In the entry-level and first move-up market, there is an extreme shortage of homes for sale. Homes in this price range can sell very quickly and for top dollar. The best time to sell your home is when there are a lot of potential buyers, but very few homes to choose from. That’s exactly what we have going on in our market right now. If you would like to sell your home for top dollar and get the terms you want, now is the time to get it on the market.

If you’re a buyer, you may be thinking now is not the best time to buy. Actually, that’s not true. Interest rates have come back down a little which makes buying a bit more affordable, i.e. lower monthly payments. Home prices and interest rates are projected to rise, so waiting to buy will cost you more money.

If you’re thinking of buying a home or selling a home,
call or text us at 513-368-3751.

Find Your Home's Current Market Value In Seconds

Filed Under: Eric Lowry's Articles, Market Update Tagged With: Buying a home in Cincinnati, Cincinnati Real Estate Market Report February 2019, Eric Lowry, Selling a home in Cincinnati, The Lowry Team, Top Realtors in Cincinnati

Cincinnati Mortgage Interest Rates Update – February 2016

February 11, 2016 by Eric Lowry

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West Chester Liberty Township Mason
Fairfield Fairfield Township Monroe

Cincinnati Mortgage Interest Rates Update - February 2016What are current mortgage interest rates in Cincinnati? 

This week the average 30-year fixed rate conventional mortgage fell from 3.72% to 3.65% which is its lowest point in the last 10 months. The average on a 15-year fixed rate also slid to 2.95%.

The interest rate on an FHA loan currently sits at 3.38%. A VA loan interest rate right now is 3.5%.

These are historically low interest rates, and are not expected to last. The accompanying chart shows the experts’ mortgage rate projects for the next 4 quarters. It’s pretty much unanimous that interest rates are going to start climbing. A 0.5% increase may not seem like much, Cincinnati Mortgage Interest Rates Update - February 2016but it will significantly affect the amount of home you can afford to buy.

Bottom Line: It’s important to stay up to date on interest rates and market trends so that you can made educated decisions on when the time is right for your family to buy a home.

If you’d like more information on current market statistics or Cincinnati mortgage interest rates, get in touch with us at The Lowry Team by calling or texting 513-368-3751.

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Filed Under: Buyers, Eric Lowry's Articles, Market Update Tagged With: Beckett Ridge Homes For Sale, Cincinnati interest rates, Cincinnati mortgage interest rates, Cincinnati Mortgage Interest Rates Update - February 2016, Eric Lowry, Keller Williams Realty West Chester, Liberty Township Ohio Homes For Sale, Mason Ohio Homes For Sale, Mortgage Interest Rates Update - February 2016, The Lowry Team, Top Cincinnati Real Estate Agents, West Chester Ohio Homes For Sale, West Chester Ohio Real Estate, What are interest rates in Cincinnati?

Liberty Township Real Estate Market Update – January 2016

January 27, 2016 by Eric Lowry

Year Ends With Low Inventory for Liberty Township

Liberty Township Real Estate Market Update

Liberty Township Real Estate Market ended in a strong sellers’ market with a 3.2 month inventory of homes for sale. A 6 month inventory level is considered a balanced market. Anything under 6 months worth of inventory is considered to be an undersupply, favoring home sellers as opposed to favoring home buyers.Buying a House in a Seller's Market

If inventory doesn’t increase soon, the market may stall. Thinking of selling your Liberty Township home? This significant lack of inventory makes right now a fantastic time to get your home listed for sale.

The average sale price of homes in Liberty Township is $294,044, which is up 3.06% from the same time last year. Home prices are on a steady rise; and are expected to continue to increase. Average days on market in Liberty Township is 98 days, compared to 88 last winter. The average list to sale price ratio for Liberty Township Real Estate is up just slightly at 97.95% compared to last year’s 97.48%. This number describes what percentage of the list price homes are actually selling for.

Questions about the Liberty Township Real Estate Market?
Contact The Lowry Team at 513-874-1830.

What's My Liberty Township Oh Home Worth?

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate, and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

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Filed Under: Eric Lowry's Articles, Liberty Township OH Real Estate Market Reports, Liberty Township Ohio Homes For Sale, Market Update Tagged With: buying a house in Liberty Township, Eric Lowry, Guaranteed Sold In 88 Days Or We Will Sell It For Free, Houses for sale in Liberty Township, Keller Williams Realty West Chester, Liberty Township OH Home values, Liberty Township Real Estate, Liberty Township Real Estate Market Update - January 2016, Liberty Township Realtor, Selling a house in Liberty Township, Sold In 88 Days Or Free, The Lowry Team, what's my liberty township house worth?

Real Estate Market Update – January 2016

January 20, 2016 by Eric Lowry

 

Here are just a few of the National Real Estate numbers we are tracking for you right now…

According to the National Association of Realtors (NAR), the number of projected home sales dipped to 4.8 million, and the national median home price for existing homes increased $220,300. That’s up 0.5% from last month and up 6.3% from this same time last year. If you’re looking to sell your home, now is a fantastic time to get it on the market!

In addition, according to Freddie Mac, the national average for a 30 year fixed rate mortgage is down from last month to 3.96%.

To find out how these numbers affect home prices in our area, contact Eric Lowry, CEO of The Lowry Team, at 513-368-3751.

Find Your Home's Current Market Value In Seconds

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

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Filed Under: Eric Lowry's Articles, Market Update Tagged With: Cincinnati Real Estate, Eric Lowry, Keller Williams West Chester Ohio, Liberty Township Real Estate, LowryTeam.com, Mason Ohio Real Estate, Real Estate Market Update - January 2016, The Lowry Team, West Chester Ohio Real Estate

This Month In Real Estate: January 2015

January 23, 2015 by Eric Lowry Leave a Comment

This Month In Real Estate: January 2015

Here are just a few of the national numbers we are tracking for you right now.

According to the National Association of Realtors, the number of projected home sales dipped to 4.93 million.

The national median home price for existing homes decreased to $205,300. That’s down 1.1% from last month and up 5% from the same time last year.

Finally, according to Freddie Mac and local lenders, the average for a 30 year fixed mortgage rate is down from last month to about 3.8%

To find out how these numbers affect home prices in our area, contact Eric Lowry, CEO and Listing Specialist of The Lowry Team. 

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.

The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.
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Filed Under: Eric Lowry's Articles, Market Update, Real Estate Market Reports, Real Estate Market Statistics, This Month In Real Estate Tagged With: 30 Year Fixed Rates, Buying A Home, Eric Lowry, Home Values, Housing Market, Interest Rates, Keller Williams Realty, Keller Williams Realty West Chester, LowryTeam.com, Market Value Of My Home, median home prices, projected home sales, Real Estate, Real Estate Market, The Lowry Team, This Month In Real Estate, This Month In Real Estate: January 2015

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