Real Estate Market Statistics Archives

The Lowry Team – The Market Indicates That Now Is a Good Time To Sell Your Home

May 12, 2014 by Eric Lowry Leave a Comment

The Lowry Team – The Market Indicates That

Now Is a Good Time To Sell Your Home!

On an average, 12,575 homes are selling every single day in the United States. If you have been thinking of selling but have been worried about the housing market, fear not, homes are selling!

Another concern both sellers and buyers have had is that people are having difficulty obtaining loans. According to the National Association of Realtors 2014 Existing Home Sales Report, over 8,000 buyers are getting mortgages every day.

As a matter of fact, in the State of Ohio, home sales in the past 12 months increased by 8.4% over the previous 12 months. The map put together by Corelogic illustrates that very few states have not seen an increase in total home sales.

Right now the supply of homes for sale is below the average 6 month level of inventory. In addition, the number of people obtaining loans and buying homes is rising. Together, this is a great scenario for a person selling their home.

If you have been considering selling your home, contact Eric Lowry, CEO and Listing Specialist for The Lowry Team. He can expand upon these market updates, answer any questions you may have and find you home’s current market value. 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:

Why You Should Sell Your Home Now

Tips to Add Curb Appeal To Your Home

Liberty Township Real Estate Market Update: November 2013

November 12, 2013 by Eric Lowry Leave a Comment

Liberty Township Real Estate Market Update: November 2013

The LowryTeam.com Real Estate Trends Report for November 2013 for Liberty Township Ohio shows a dramatic gain in unit sales for the year when compared to the same time period of 2012. So far in 2013 there have been 576 homes and condos closed compared to 398 in 2013. This represents a gain of 44.72% in home sales. These closed sales numbers are for the time period of January 1st – October 31st. The chart below shows the breakdown month by month of the homes and condos closed.

Liberty Township Ohio Home Sales November 2013 — Click On The Image To View Larger

The LowryTeam.com Real Estate Trends Report for November 2013 for Liberty Township Ohio shows a fairly significant gain in the Average Sale Price of homes sold and closed in 2013 when compared to 2013. The chart below shows the breakdown by month of the Average Sale Price of homes in Liberty Township, Ohio.

Liberty Township Ohio Home Sales Average Sale Price — Click On The Image To View Larger

Wondering What Your Liberty Township Ohio Home Is Worth?

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West Chester’s Most Expensive Home Sales In 2012

September 28, 2012 by Eric Lowry Leave a Comment

West Chester’s Most Expensive Home Sales In 2012

Search Luxury Homes For Sale In West Chester

So far in 2012, the West Chester real estate market has seen 13 properties sell for $500,000 or more. The neighborhood with the largest number of these homes sold was the West Chester subdivision of the Reserves of Providence. The top 10 most expensive homes sold in the $550,000 to just under $1,000,000 price range.

The top 10 luxury home sales of 2012 for West Chester Ohio are*:

*Source of this home sale data is the MLS of Greater Cincinnati.

4 of the 10 most expensive luxury home sales in West Chester are in the Reserves of Providence subdivision and 4 of the 10 most expensive luxury home sales in West Chester are in the adjoining Foxborough subdivision. Clearly the luxury home market in West Chester is in this area with 80% of all sales in these two subdivisions in 2012 and with Homearama 2011 having been held in the Foxborough subdivision this trend was definitely solidified. It was a little surprising that only 1 of the top ten luxury home sales was in the Wetherington subdivision in West Chester. In past year’s Wetherington has been considered one of the most exclusive neighborhoods in West Chester.

For more information on buying or selling a luxury home in West Chester, please contact Eric Lowry and the Lowry Team at Keller Williams Realty – Direct: 513-874-1830

You can start your luxury home search right here >> Search Luxury Homes For Sale In West Chester & Liberty Twp

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!

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 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!

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.

West Chester OH Real Estate Market Breakdown – April 2011

April 3, 2011 by Eric Lowry Leave a Comment

West Chester Ohio Real Estate Market Breakdown – April 2011

Which price ranges are in the best shape from a home sellers perspective in West Chester, Ohio and which are not? The best way to measure the general strength of the West Chester, 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, OHIO

In the chart below you can see that 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.

A seller’s market would show a month’s supply of less than 5 months, 5-6 months supply of homes for sale is considered a neutral market and anything over 6 months is considered a buyer’s market. The higher the number the stronger the buyer’s market.

Looking back at the January Real Estate Market Breakdown you can see that in a number of the different price ranges the months supply of homes for sale has greatly increased. This is caused by two factors: (1.) There are more homes for sale now and (2.) The pace at which homes were selling in this last six month period has slowed considerably. Clearly we can see that a number of price ranges, as well as the overall market are a buyer’s market. No surprise there, but when listing a home for sale you must understand the level of pricing pressure and competition that you face so that you can employ the correct pricing strategy in selling your home.

West Chester Ohio Real Estate Market Breakdown — click on the image to see a larger version

Please keep in mind that these statistics are for West Chester, Ohio only and should be considered along with the Liberty Township, Ohio real estate market statistics when making pricing decisions and putting your home on the market. I will update the market numbers for Liberty Township later this week.

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

posted by Eric Lowry