Real Estate Market Reports Archives

March 2012 Home Sales West Chester & Liberty Twp. OH Real Estate

April 22, 2012 by Eric Lowry Leave a Comment

LowryTeam.com Real Estate Trends Report – March 2012 Home Sales West Chester & Liberty Twp. OH

Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report. This report, published monthly, provides a look at the first three months worth of real estate home sale data for West Chester, Beckett Ridge and Liberty Township, Ohio. It is a local trends report and makes no attempt to draw overall conclusions or make predictions for the larger real estate market. In fact we believe that anyone that makes an attempt to predict future, national real estate market conditions or draws conclusions on recent historical data nationally is just out of touch with reality. There is no such thing as a national weather forecast and there is no such thing as a real estate one either. ALL real estate is local!

The source of our data is the Greater Cincinnati Multiple Listing Service. By seeking out and understanding the trends in our market place we are better able to forecast the upcoming market conditions and counsel our clients on pricing strategies to get their home sold for the highest possible price. Any thoughts and insight into what may occur in the future are solely our opinions and forecasts.

This month we are breaking the data down into several different blog posts. This first article will cover home sales for the for the first three months of 2012 (January – March):

A close look at the home sales for West Chester & Liberty Township Ohio:

As we move into April and look back at the first three months of home sales for West Chester and Liberty Township, the trend that we are seeing right now is one that continues to support the belief that the housing market locally has stabilized in terms of home sales. The 1st quarter sales last year (2011) were weak, so our comparisons of the home sales figures continue to show improvement when compared to 2011. Sales in the first three months of 2012 have shown a significant, 10.80% increase over the home sales numbers for the first three months of 2011. While sales have shown a pretty nice uptick in this time frame, a little historical perspective is helpful in understanding where we are in the overall health of the real estate market. March 2012, while much improved over the previous few months, was the third lowest March home sales number we have seen since 2001. In fact the March 2012 home sales total was less than half of the total that was seen in March of 2005 and 2006.

As can be seen by the graph above we seem to be trending along a path very similar to 2010’s home sales. However, the months of April – June of 2010 were very much effected (inflated) by the homebuyer tax credit that was in place in 2010. Thus we are unlikely to stay on a track that will keep us even with 2010. The more likely senario we believe is that we will track along a path somewhere between the home sales of 2010 and 2011.

Summary:

As we have stated previously in the LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, the market remains challenging for home sellers and is full of opportunity for homebuyers. The real estate market in West Chester and Liberty Township has really become two distinctly different markets when you look at the differences in activity and levels of inventory for sale broken down by price range. We will take a look at this trend in our next article.

The primary threats or obstacles to the recovery of real estate market are continued high unemployment, a continued oversupply of homes for sale and the potential loss of the mortgage interest tax deduction. Interest rates continue to hover at the historical low levels of around 4.25%.

Wondering what the value of your home currently is? We would be happy to provide you with a detailed market value analysis of the value of your home. You can request your Market Value Analysis here

Other related posts you may be interested in:

Search West Chester Ohio Homes For Sale and Real Estate

Top 10 Tips When Selling a Home In West Chester, Liberty Twp Or Mason Ohio

LowryTeam.com Real Estate Trends Report – December 2011 Home Sales West Chester & Liberty Twp. OH

December 7, 2011 by Eric Lowry Leave a Comment

LowryTeam.com Real Estate Trends Report – December 2011 Home Sales West Chester & Liberty Twp. OH

Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report. This report, published monthly, provides a look back at the last six months worth of real estate data for West Chester, Beckett Ridgeand Liberty Township, Ohio. It is a local trends report and makes no attempt to draw overall conclusions or make predictions for the larger real estate market. In fact we believe that anyone that makes an attempt to predict future, national real estate market conditions or draws conclusions on recent historical data nationally is just out of touch with reality. There is no such thing as a national weather forecast and there is no such thing as a real estate one either. ALL real estate is local!

This month we are breaking the data down into several different blog posts. This first article will cover home sales for the last six months (June – November):

A close look at the home sales for West Chester & Liberty Township Ohio:

As we move into December and look back at this most recent six months of data, the trend that we are watching right now is to see if the increase in home sales can be sustained as we move into the new year. The 4th quarter sales last year (2010) were extremely weak, so our comparisons of the home sales figures continue to show improvement when compared to 2010. Sales in June thru November of 2011 have shown a significant, 26.43% increase over the home sales numbers for June thru November of 2010. While sales have shown a pretty nice uptick in this time frame. It must be kept in perspective however. This period in 2010 showed some of the very worst of the monthly home sales figures for our area. This was the period of time immediately after the home buyer tax credit ended and sales really dropped off as you can see in the graph.

November home sales for West Chester and Liberty Twp Ohio were up 53.33% when compared to the month of November 2010. While this is a pace of increase that is not likely to be sustained, the next three months will really be telling in what direction home sales are headed in our area. The graph below shows the November home sales levels for West Chester & Liberty Twp for the last number of years to get some historical perspective to the figures.

Summary:

As we have stated previously in the LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, our market remains challenging, yet full of opportunity. Clearly the value of homes in West Chester, Beckett Ridge & Liberty Twp has fallen over the past couple of years and frankly, the values may still fall farther. The primary threats or obstacles to the recovery of real estate market are continued high unemployment, a continued oversupply of homes for sale and the potential loss of the mortgage interest tax deduction. Interest rates have settled back down and are at historical low levels around 4.25% which provide a great environment for buying a new home.

Wondering what the value of your home currently is? We would be happy to provide you with a detailed market value analysis of the value of your home. You can request your Market Value Analysis here

Other related posts you may be interested in:

This Month In Real Estate For West Chester, Liberty Township & Mason Ohio

Top 10 Tips When Selling a Home In West Chester, Liberty Twp Or Mason Ohio

Your comments and questions are always welcome!

LowryTeam.com Real Estate Trends Report – August 2011

August 23, 2011 by Eric Lowry Leave a Comment

Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report covering sales for July 2011. This report, published monthly, provides a look back at the last six months worth of real estate data for West Chester, Beckett Ridgeand Liberty Township, Ohio. It is a local trends report and makes no attempt to draw overall conclusions or make predictions for the larger real estate market. In fact we believe that anyone that makes an attempt to predict future, national real estate market conditions or draws conclusions on recent historical data nationally is just out of touch with reality. There is no such thing as a national weather forecast and there is no such thing as a real estate one either. ALL real estate is local!

The first thing we look at is unit sales for the last six months (February – July):

It’s all about the sales numbers right now:

As we move towards the end of August and look back at this most recent six months of data, the trend that we are watching for right now is to see if there will be a continued softening in unit sales as we saw in 2010. The graph for this year’s sales show very little of what we typically call the spring market. Sales in July of 2011 finally were up over the sales numbers for July of 2010. The sales in July 2010 really dropped off after the expiration of the Homebuyer Tax Credits that were in place last year. These tax credits had really propped up the home sales in the first half of 2010.

Everyone was excited to see the increase of unit sales over the same month in the previous year. This was the first time we had seen this happen since January. What does this really mean though? First, based on the very low comparisions for the rest of the year vs. 2010, this is a trend that we are likely to see continue for a number of months in a row. And secondly, a look at how these July sales numbers stacked up against the July sales numbers for previous years is perhaps a better place to draw some perspective.

While the sales figures for July (2011 vs 2010) were up, the July 2011 sales were the second lowest in the past decade for the West Chester & Liberty Township Ohio real estate market for the month of July.

When considering the health of the housing market, everything hinges right now on home sales. Home prices will not be able to show any stability in the foreseeable future with the amount of inventory (homes for sale) that we currently have on the market vs. the number of homes that are actually selling. We have a large oversupply of homes for sale in West Chester and Liberty Township and this only puts further pressure on listing and sale prices. We believe that home values will continue to fall. For homeowners needing to sell, the best chance to get the highest price for their home is to get the home sold in the very near term. It truly is all about the home sales numbers right now!

Average sale price for the last six months (February – July) is next:

In this graph you can see the movement of the average sale price for West Chester and Liberty Township, Ohio real estate sales from January 2010 through July of 2011. The trend line continues to show you a gradual decline for average home sale prices. Average sale price gets quite a bit of attention in the media with reports that quote “home prices fell” or “home prices rose” in this particular quarter or month or whatever. The average sale price is nothing more than what it’s called – an average price of all of the homes sold in a particular time frame.

However, just to be clear here, homes are not worth more now than they were at the beginning of the year. Any increase or decrease in the average sale price is reflective of the activity of that time frame not the exact value of any one home. Falling home values do clearly effect the average sale price, but that is not the whole story. The mix of homes and their values definitely play a part in this fluctuation, ie., many more lower priced homes selling than in the luxury market.

List to sale price ratio:

The List to Sale Price ratio is calculated by dividing the final sale price into the list price to find the percentage of the list price that a given home sells for. The West Chester and Liberty Township Ohio List to Sale Price Ratio was 96.91% for July 2011. As you can see the monthly List to Sale Price Ratio has seen some big swings up and down in the last year. The swings up and down are an indicator of the lack of stability in the West Chester and Liberty Township real estate market right now. The highlighted center area of the graph shows what appears to be the middle ground right now for the market.

Summary:

As we have stated previously in the LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, our market remains challenging, yet full of opportunity. Clearly the value of homesin the area has fallen over the past couple of years and frankly, the values are likely to fall farther. The primary threats or obstacles to the second half of 2011 real estate market and any potential recovery are continued high unemployment, a considerable oversupply of homes for sale and the potential loss of the mortgage interest tax deduction. Interest rates have settled back down and are at historical low levels around 4.25% which provide a great environment for buying a new home.

Wondering what the value of your home currently is? We would be happy to provide you with a detailed market value analysis of the value of your home. You can request your Market Value Analysis here

Your comments and questions are always welcome!

Other related posts you may be interested in:

What Are Mortgage Interest Rates In West Chester & Liberty Township OH?

West Chester & Liberty Township OH Real Estate Market Breakdown – July 2011

Most Expensive Homes For Sale In West Chester, OH

August 14, 2011 by Eric Lowry Leave a Comment

Looking for luxury homes for sale in West Chester, Ohio?

Look no further… you can find them right here >> Most Expensive Homes For Sale In West Chester, Ohio

As you can see on the map these homes are for the most part very clustered together in the subdivisions mostly to the West of Route 747, including the subdivision of Foxborough and also The Reserves Of Providence. Foxborough was the subdivision that hosted homearama this year in West Chester.

These homes range in price from $739,000 to $1,790,000.

You can start your search for a new home in West Chester, Beckett Ridge or Liberty Township, Ohio right here using our real estate search engine.

Wondering what your home is worth in today’s real estate market? Request a market analysis here!

West Chester & Liberty Township OH Real Estate Market Breakdown – July 2011

July 6, 2011 by Eric Lowry Leave a Comment

West Chester & Liberty Township OH Real Estate Market Breakdown – July 2011

It’s time to breakdown the West Chester & Liberty Township Ohio real estate market again. In the real estate market breakdown we take a look at which price ranges are in the best shape from a home sellers perspective in West Chester Ohio and Liberty Township, Ohio and which are not? The best way to measure the general strength of the West Chester & Liberty Township, Ohio real estate market and to break down it’s different price ranges is to evaluate the amount of homes for sale in both the total area and also in each different price range.

SEARCH ALL HOMES FOR SALE IN WEST CHESTER & LIBERTY TOWNSHIP, OHIO

As you can see in the chart below, there is clearly more activity in some price ranges than others and certainly more homes for sale in some of the ranges also. In each of the different price ranges you can see the number of homes for sale, the number of homes that have sold in the last six months and the months supply of homes for sale.

The number of homes for sale is a pretty straight forward statistic, the number of homes that have sold in the last six months is used to determine the rate that homes are currently selling. The key number in this chart is the months supply of homes for sale.

If we were in a seller’s market we would show a month’s supply of less than 5 months inventory, 5-6 months supply of homes for sale is considered a neutral market favoring neither homebuyers or homesellers and anything over 6 months is considered a buyer’s market. The higher the number of months of inventory the stronger the buyer’s market.

Clearly we can see that a number of price ranges are in a more extreme buyer’s market than others. It’s no surprise that we are in a buyer’s market, but the intensity of the buyer’s market in the higher price ranges is quite extreme. When listing a home for sale you must understand the level of pricing pressure and competition so that you employ the correct pricing strategy in selling your home.

LowryTeam.com Real Estate Market Statistics July 2011 — Click The Image To See A Larger Version

Please keep in mind that these statistics are for West Chester Ohio and Liberty Township, Ohio only and are based on data obtained from the Greater Cincinnati MLS. When making pricing decisions and putting your home on the market be sure that you have not only looked at the recently sold homes in your neighborhood, but also at the active competition currently on the market and the direction of the current market. Especially in your home’s particular price range.

Do you want to track the real estate market activity in your West Chester or Liberty Township Ohio neighborhood? Get a free, comprehensive real estate market report sent directly to your inbox at >> Home Values In West Chester Ohio.

LowryTeam.com Monthly Real Estate Trends Report – June 2011

June 20, 2011 by Eric Lowry Leave a Comment

Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report for May 2011. This report, published monthly, provides a look back at the last six months worth of real estate data for West Chester, Beckett Ridge and Liberty Township, Ohio. It is a local trends report and makes no attempt to draw overall conclusions or make predictions for the larger real estate market. In fact we believe that anyone that makes an attempt to predict future, national real estate market conditions or draws conclusions on recent historical data nationally is just out of touch with reality. There is no such thing as a national weather forecast and there is no such thing as a real estate one either. ALL real estate is local!

The first thing we look at is unit sales for the last six months (December – May):

West Chester & Liberty Township Home Sales & Home Prices — Click The Image To See A Larger Version

It’s all about the sales numbers right now:

As we move towards the end of June and look back at this most recent six months of data, the trend that we see is a continued softening in unit sales. The graph shows very little of what we might have typically called the spring market. Sales are down pretty dramatically when compared to the same months last year. The reason for this is the Homebuyer Tax Credits that were in place last year, which really propped up the home sales in the first half of the year.

May 2011 homes sales showed a very small uptick in sales when compared to the months of March and April 2011. May 2011 sales were 35.16% lower than May of 2010. So the year over year comparison of sales does not look good. Again, some of this is due to comparisons to the tax credit months, but home sales clearly remain at very low levels, with no visible signs of improvement in the near future.

Everything hinges right now on home sales. Home prices will not be able to show any stability in the foreseeable future with the amount of inventory (homes for sale) that we currently have on the market for sale vs. the number of homes that are actually selling. We have a large oversupply of homes for sale in West Chester and Liberty Township and this only puts further pressure on listing and sale prices. We believe that the home values will continue to fall. For homeowners needing to sell, the best chance to get the highest price for their home is to get the home sold in the very near term. It truly is all about the home sales numbers right now!

Average sale price for the last six months (December – May) is next:

West Chester & Liberty Township Ohio Home Prices — Click The Image To See A Larger Version

In this graph you can see the movement of the average sale price for West Chester and Liberty Township, Ohio real estate sales from January 2010 through May of 2011. The trend line continues to show you a gradual decline for average home sale prices. Average sale price gets quite a bit of attention in the media with reports that quote “home prices fell” or “home prices rose” in this particular quarter or month or whatever. The average sale price is nothing more than what it’s called – an average price of all of the homes sold in a particular time frame.

List to sale price ratio:

West Chester & Liberty Township List to Sale Home Price Ratio — Click The Image To See A Larger Version

The List to Sale Price ratio is calculated by dividing the final sale price into the list price to find the percentage of the list price that a given home sells for. The West Chester and Liberty Township Ohio List to Sale Price Ratio is 95.66% for May 2011. As you can see the monthly List to Sale Price Ratio has seen some big swings up and down in the last year and we took another big drop down in February. The swings up and down are an indicator of the lack of stability in the West Chester and Liberty Township real estate market right now. The highlighted center area of the graph shows what appears to be the middle ground right now for the market.

The trend here had been on an upswing, indicating that homeowners are generally pricing their homes at levels that reflect market value. One important fact to keep in mind here is that these figures are calculated based on homes that have sold. Homes that are priced too high when listed will not get 95-96% of their list price, in fact in this market, they won’t sell at all.

Summary:

As we have stated previously in the LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, our market remains challenging, yet full of opportunity. Clearly the value of homes in the area has fallen over the past couple of years and frankly, the values are likely to fall farther. The primary threats or obstacles to the second half of 2011 real estate market and any potential recovery are continued high unemployment, a considerable oversupply of homes for sale and the potential loss of the mortgage interest tax deduction. Interest rates have settled back down and remain at very attractive levels around 4.5 – 4.75% which provide a great environment for buying a new home.

Your comments and questions are always welcome!

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