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Home Values In West Chester Ohio

October 1, 2012 by Eric Lowry Leave a Comment

Home Values In West Chester Ohio

Wondering if the real estate market in West Chester Ohio has stabilized?

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West Chester Ohio Home Values Market Update

Getting ready to put your home on the market for sale and need more detailed data on what your home is worth?  Request a detailed Market Value Analysis here!

Other articles that may interest you:

7 Steps To Get Your Expired Listing Sold

Selling A Home In West Chester Ohio

Filed Under: Eric Lowry's Articles, Real Estate Market Reports, Sellers Tagged With: Cincinnati, Eric Lowry, Home Values, Home values in cincy, Home Values In West Chester Ohio, HomeValuesInWestChesterOH.com, Housing Market, Housing Statistics, Keller Williams Realty, LowryTeam.com, Market Value Of My Home, Ohio, Property Values, Real Estate Market Reports, Selling A Home, West Chester Home Values

Tuesday Open House: West Chester & Mason Ohio Real Estate News – April 3 2012

April 3, 2012 by Eric Lowry Leave a Comment

Click To Search Homes For Sale In West Chester & Liberty TownshipIt’s Tuesday, so this must be the Tuesday Open House – West Chester & Mason Ohio Real Estate News

What is Tuesday Open House??  Well, it’s clearly not an “open house”. Open Houses don’t sell homes… great internet marketing does… however it makes a really great title for a weekly blog post on West Chester & Mason Ohio Real Estate News.

It is my way of throwing the doors open on the RealEstate-Ink.com blog and offering up a few quick articles and facts on real estate for the West Chester, Liberty Township, Beckett Ridge, Mason and Fairfield Township, Ohio areas. It is not intended to be all about homes for sale, but it will be about that some of the time…

This Month In Real Estate - Keller Williams - April 2012
Click The Image To Watch

This Month In Real Estate Video  :: This Month In Real Estate brought to you by Keller Williams Realty discusses the benefits of a initial homebuyer consultation.  When you are ready to begin your home search The Lowry Team has two great buyer specialists to assist you.  Lisa Tesmer and Laura Koether are both experienced real estate agents with The Lowry Team  that work as Buyer Specialists and both are ready to assist you.  They are your “go to” resources for homebuying in today’s real estate market!

Housing Hype – Recovery or Relapse?  :: This article on the housing market that was published on CNBC.com this past week brings out some good points.  Are we experiencing a housing recovery or are we starting to see the beginnings of a relapse.  I am finishing up my research on this topic specific to the local West Chester, Liberty Township and Mason real estate markets.  Watch for my article on this topic coming very soon.  In the mean time you can read the CNBC article here:  http://www.cnbc.com/id/46855457

Home-a-Rama 2012 in Cincinnati :: This is the time of year when interest in the Home-a-Rama home show in Cincinnati begins to pick up.  This year’s Home-a-rama is being held in Willows Bend subdivision in Miami Township.  You can read my previous blog post about the announcement of Home-a-Rama here  Interested in homes for sale in Willows Bend?   You can find them right on our website: LowryTeam.com Willows Bend Homes For Sale

Are You On Facebook? :: Each week we recognize a facebook page that we think is relevant, fun or important.  This week our Facebook Page Of The Week is…  The Cincinnati Reds – It is opening day in just two more days.  Visit them and “Like” their page:  http://www.facebook.com/Reds  As of this writing they have 520,573 fans!!   You can also connect with us on Facebook at http://www.Facebook.com/LowryTeamRealEstate

Filed Under: Eric Lowry's Articles, Real Estate News, Tuesday Open House Tagged With: Cincinnati, Eric Lowry, Home Buyer Specialist, Homearama, Homes For Sale, Housing Market, Housing Statistics, Keller Williams Realty, Ohio, Open House Search, Top Selling Realtor, Tuesday Open House, Willows Bend subdivision

LowryTeam.com Real Estate Trends Report – October 2011

October 19, 2011 by Eric Lowry Leave a Comment

LowryTeam.com Real Estate Trends Report – October 2011

 

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 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.

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

Real Estate Sales For West Chester & Liberty Twp

A look at the sales numbers:

As we move into October and look back at this most recent six months of data, the trend that we are watching for right now is to see how unit sales will play out in the 4th quarter of the year. The 4th quarter sales last year (2010) were extremely weak, so we expect to see home sales continue to show improvement when compared to 2010. Sales in July thru September of 2011 have shown significant increases over the sales numbers for July thru September of 2010. The sales in July 2010 really dropped off after the expiration of the Homebuyer Tax Credits that were in place last year.

As of the end of September, the year to date sales for 2011 are very close to the same as the year to date sales for 2010 in West Chester & Liberty Township.  2011 year to date sales are down -1.66%

Average sale prices:

Average Sale Prices West Chester & Liberty Twp Real Estate

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 September of 2011. The trend line continues to show you a 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.

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:

Real Estate Sales For West Chester & Liberty Twp Percentage

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 96.32% for September 2011. As you can see the monthly List to Sale Price Ratio has seen some big swings up and down in the last year. Overall the recent months list to sale price ratio seems to be fairly stable and on a slightly upward track. 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 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 final quarter 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

Other related posts you may be interested in:

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

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

Your comments and questions are always welcome!

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    Filed Under: Eric Lowry's Articles, LowryTeam.com Real Estate Market Trends Report Tagged With: Beckett Ridge Real Estate, Eric Lowry, Home Prices, Home Sales, Home Values, Housing Market, Housing Statistics, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Market Trends Report, Real Estate Market Breakdown, Real Estate Market Reports, VIPHomeFinder.com, West Chester Ohio Real Estate

    LowryTeam.com: Monthly Real Estate Trends Report – December 2010

    December 27, 2010 by Eric Lowry Leave a Comment

    LowryTeam.com: Monthly Real Estate Trends Report – December 2010

    Hot off the presses is our LowryTeam.com Monthly Real Estate Trends Report for December 2010.  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 source of this 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.

    Unit sales for the last six months (June – November) is first:

    Unit sales in West Chester and Liberty Township have seen a steady decline in the last six months.  The spring market saw a fairly strong sales environment which was supported by the government’s home buyer tax credits.  These tax credits expired on April 30th, 2010 and you can see on the graph, that homes sales (closed units) peaked in the two months after, as these tax credit sales closed , 30-60 days later.

    With no intervention or subsidy of the housing markets by the government you can see that home sales have made their way much lower in the following months.

    To put these levels of home sales in proper perspective we compare them to the same time periods of the last two years.  In the fall of last year (2009) we were under the influence of the original first time homebuyer tax credit which definitely had a positive impact on home sales at the time.  In the fall of 2008 we were in the midst of the financial crisis with the all of the bank failures, etc. which caused a very significant slow down at the time in home sales.  So when you compare the last three year’s home sales for this time period of June – November you can see that our current level of home sales are at a level that is even below the levels seen during the financial crisis.

    This is a pretty amazing statistic when you consider that we are operating in an environment of both extremely low interest rates and home prices.  One factor that may provide an uptick of some sort in home sales in the near term is rising interest rates.  Rates have definitely risen off of their lowest levels and history tells us that when rates go up, they tend to go up fast.  Some homebuyers may be fearful of missing out on these really low rates and will jump into the market to get a home under contract while the below 5.00% interest rates are still available.  This could result in a small upward trend for home sales in the next few months over the current levels.

    Average sale price for the last six months (June – November) is next:

    You can see the movement of the average sale price for West Chester and Liberty Township, Ohio real estate sales in 2010.  If you watch the trend line you can see a gradual decline for 2010.  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. 

    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.  A perfect example of this is the month of August which according to the graph shows a huge increase in the average sale price over the month of July.  A look inside the numbers explains… In July 17 of the total 82 closed sales that month were under $140,000 in sale price, in August there were only 6 of a total 78 closed sales in that same price range.  Less sales in the lower price ranges will cause the average sale price to be higher.  In addition, in July there were just 4 closed sales over $400,000 compared to 9 closed sales in August over $400,000.  So, was the average sale price higher because homes were worth more?  No, there was just a very different mix of homes that sold.

    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 is 95.68% for the six month period of June – November 2010.  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.  The last two months have been below this range, indicating that homeowners are accepting lower offers when compared to their list prices than had been the case in previous months. 

    The one factor that remains true, through all of the market’s ups and downs is that homes that sell quickly sell for a much higher percentage of their list price.  In the most recent six months, homes that sold in the first thirty days that they were on the market sold for 97.09% of list price.  As you can see, this is a much higher final sales price compared to the overall market average.

    Summary:

    The West Chester, Beckett Ridge and Liberty Township real estate market remains challenging, yet full of opportunity. Clearly thevalue of homes in the area has fallen over the past couple of years and frankly, in certain price ranges, the values are likely to fall farther.  The primary threats to the 2011 real estate market and any potential recovery are continued high unemployment and the potential loss of the mortgage interest tax deduction.  Interest rates have now risen off of their lows, but still remain at very attractive levels below 5.00% which provide a great environment for buying a new home.

    Your comments and questions are always welcome! Wondering what your home is worth in today’s real estate market?  Request a market analysis here!

     

    Filed Under: Eric Lowry's Articles, Financing, Financing Options, First-time Homebuyer, Market Update, Real Estate Information, Real Estate Market Reports, Real Estate Market Statistics, Real Estate News, Sellers, Tax Credit Tagged With: Average Home Sale Prices In West Chester Ohio, Beckett Ridge Real Estate, Cincinnati, Eric Lowry, Eric's Hassle Free Listing, Home Sales, Home Values, Housing Market, Housing Statistics, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Market Value Of My Home, Ohio, Real Estate Market, Real Estate Market Statistics, Top Selling Realtor, VIPHomeFinder.com, West Chester Real Estate

    West Chester & Liberty Township OH Real Estate: This Month In Real Estate October 2010

    October 11, 2010 by Eric Lowry Leave a Comment

     

    Click Here To Search The Entire Cincinnati MLS Database Of Homes For Sale! Wondering what your home is worth in today’s real estate market? Request a market analysis here!

    Filed Under: Buyers, Eric Lowry's Articles, Market Update, Real Estate Information, Real Estate Market Reports, Real Estate News, This Month In Real Estate Tagged With: Beckett Ridge Realtor, Certified Distressed Property Expert, Cincinnati, Eric Lowry, Home Values, Homes For Sale, Housing Market, Housing Statistics, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Ohio, Property Values, RealEstate-Ink.com, Search Homes For Sale, Search The MLS, This Month In Real Estate, Top Real Estate Agent, Top Selling Realtor, VIPHomeFinder.com, West Chester Ohio Realtor, West Chester Real Estate

    Get Your Personal Real Estate Market Update!

    April 24, 2010 by Eric Lowry Leave a Comment

    What is a Market Snapshot? A Market Snapshot is a detailed real estate market report providing you with information on homes for sale and recent home sales in your  West Chester, Liberty Township, Beckett Ridge, Fairfield Township, Monroe or Mason Ohio neighborhood.

    Detailed information on each home is included on an interactive map as well as statistical data, all of which comes directly from the Greater Cincinnati Multiple Listing Service (MLS).

    Get your West Chester Real Estate Market Update delivered right to your inbox:

     

    Thinking of buying a home in West Chester, Beckett Ridge or Liberty Township, Fairfield Township, Monroe or Mason Ohio?

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

    Visit My YouTube channel at: www.youtube.com/LowryTeam

    Check Out My Feature Homes For Sale In West Chester, Fairfield and Liberty Township, Ohio

    Filed Under: Beckett Ridge Homes For Sale, Eric Lowry's Articles, Fairfield Township Homes For Sale, Liberty Township Ohio Homes For Sale, Real Estate Information, Real Estate Market Reports, Real Estate Market Statistics, Sellers, West Chester Ohio Homes For Sale Tagged With: Beckett, Cincinnati, Eric Lowry, Eric's Hassle Free Listing, Home Values, Homes For Sale, Housing Statistics, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Market Value Of My Home, MLS, Ohio, Property Values, West Chester Real Estate

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