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Where Are Mortgage Interest Rates Headed in 2018

February 17, 2018 by Eric Lowry

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The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the interest rate, the higher the monthly payment will be. That’s why it’s important to know where interest rates are headed when deciding whether to buy a home now or wait.

The graph below illustrates the projections of where interest rates are headed, based on Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, they are projected to increase steadily over the next 12 months.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

What does this mean for you? A half percent (.5%) increase in your interest rate can significantly increase your monthly mortgage payment. Based on the projections of where interest rates are headed, the sooner you buy a home the better. Waiting could cause you to wind up paying considerably more for your next home. Contact us today to evaluate your ability to buy your dream home.

Thinking of buying or selling a home in Cincinnati?
Call or text The Lowry Team at 513-368-3751

West Chester Real Estate Market Update – January 2016

January 27, 2016 by Eric Lowry

Year Ends Strong in Sellers’ Market for West Chester

West Chester Real Estate Market ended in a strong sellers’ market with a 2.5 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. Inventory typically is lower this time of year, however it’s at its lowest point in several years. Thinking of selling your 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 West Chester is $230,940, which is up 1.08% from the same time last year. Home prices are on a slow, steady rise; and are expected to continue to increase. Average days on market in West Chester is 66 days, compared to 70 last winter. The average list to sale price ratio for West Chester Real Estate is down slightly at 95.95% compared to last year’s 96.69%. This number describes what percentage of the list price homes are actually selling for.

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

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.

Other Articles You May Be Interested In:

Search the MLS for Cincinnati Houses For Sale

Find Out The Current Market Value Of Your West Chester Home

Moving to West Chester Ohio

10 Ways To Improve The Resale Value Of Your Home

Tips For Selling Your House Fast

10 Tips For Staging A Home

Beckett Ridge Homes for Sale

West Chester Houses Under 250K

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West Chester OH Most Expensive Luxury Home Sales In 2015

December 9, 2015 by Eric Lowry

West Chester OH Most Expensive Luxury Home Sales In 2015

2015 saw the luxury home market in West Chester Ohio continue a slow steady pace. There were 31 luxury home sales in West Chester in the first eleven month’s of 2015 compared to 35 luxury home sales in the same period in 2014.

The inventory of luxury homes for sale in West Chester remains very high relative to the number of homes selling. While the current inventory is high right now, the level of unit sales is still relatively high historically for West Chester. A fairly large part of the activity in the West Chester luxury home market is being driven by new construction. This new construction in the luxury market is almost exclusively in the Foxborough Subdivision and the Treillage Subdivision.

The inventory of luxury homes for sale in West Chester is quite high when compared to the amount of homes that are selling. Based on the current rate of sales in the luxury market there is a 12 month supply of homes for sale. Traditionally anything over 6 months worth of inventory is considered to be an oversupply favoring home buyers as opposed to favoring home sellers.

The Top Ten Most Expensive Home Sales in West Chester in 2015 (see image below) were sold in a range from $675,000 – $1,089,3810. Of these ten home sales, 3 were in the Wetherington Subdivision, 3 were in the Reserves Of Providence Subdivision, 1 was in Indian Springs Subdivision and 3 were in Treillage Subdivison.

3 of these luxury home sales were new construction homes. All 3 of these newly built homes were sold in the Treillage Subdivision.

Have questions on the West Chester Ohio Real Estate Market? Call Eric Lowry 513-368-3751

Read About The Most Expensive Home Sales In Liberty Township Ohio

Search For The Most Expensive Homes Currently Listed For Sale In West Chester Ohio Right Here

Ranch Homes For Sale In West Chester

Homes In West Chester With A Pool

Golf Course Homes For Sale In West Chester Ohio

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.

Liberty Township OH Most Expensive Luxury Home Sales In 2015

November 29, 2015 by Eric Lowry

Liberty Township OH Most Expensive Home Sales In 2015

2015 saw the luxury home market in Liberty Township Ohio continue a slow steady pace. There were 24 luxury home sales in Liberty Township in the first eleven month’s of 2015 compared to 22 luxury home sales in the same period in 2014.

The inventory of luxury homes for sale in Liberty Township remains very high relative to the number of homes selling. While the current inventory is high right now, the level of unit sales is still quite high historically for Liberty Township. A large part of the activity in the Liberty Township luxury home market is being driven by new construction. This new construction in the luxury market is almost exclusively in the Carriage Hill Subdivision.

The inventory of homes for sale in Liberty Township is quite high when compared to the amount of homes that are selling. Based on the current rate of sales in the luxury market there is a 12 month supply of homes for sale. Traditionally anything over 6 months worth of inventory is considered to be an oversupply favoring home buyers as opposed to favoring home sellers.

The Top Ten Most Expensive Home Sales in Liberty Township in 2015 (see image below) were sold in a range from $650,527 – $1,250,000. Of these ten home sales, 6 were in the Carriage Hill Subdivision, 2 were in Four Bridges Subdivision, 1 was in Bridgeton Manor Subdivision and 1 was in The Sanctuary.

Liberty Township Most Expensive Home Sales 2015 — Source: The MLS Of Greater Cincinnati

6 of these luxury home sales were new construction homes. All 6 of these newly built homes were sold in the Carriage Hill Subdivision which has been the location of the Homearama new home show on 2 occasions recently.

Have questions on the Liberty Township Ohio Real Estate Market? Call Eric Lowry 513-368-3751

Search For The Most Expensive Homes Currently Listed For Sale In Liberty Township Ohio Right Here

Ranch Homes For Sale In Liberty Township

Homes In Liberty Township With A Pool

Golf Course Homes For Sale In Liberty Township Ohio

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.

West Chester and Liberty Township Ohio Real Estate Market Report

August 26, 2015 by Eric Lowry

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

West Chester Ohio Ranch Homes for Sale

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Find Your West Chester Home Value

Liberty Township Ohio Ranch Homes For Sale

Liberty Township Ohio Condos For Sale

Find Your Liberty Township Home Value