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Lowry Team Real Estate – Tuesday Open House November 12 2013

November 12, 2013 by Eric Lowry Leave a Comment

 

Lowry Team Real Estate
TUESDAY OPEN HOUSE
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Welcome To Tuesday Open House!

Tuesday Open House is our weekly video blog post featuring community information, real estate news and other topics of interest.

It’s Last Call for donations for The Lowry Team Thanksgiving Food Drive for Reach Out Lakota and we would love to have you join us.  If you would like to donate just click on the link below.  You’ll find details and a quick form to fill out.

http://www.lowryteam.com/thanksgiving-food-drive.php

This week we discuss home sales levels for 2013 compared to 2012.  Also, what the average home sale prices are this year and how they compare to 2012.  Click the link below for more details and charts.  Have specific questions?  You can contact us via email or phone anytime.

http://www.lowryteam.com

Have a great week and I’ll see you next Tuesday!

The Lowry Team513-874-1830 · www.LowryTeam.com
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Filed Under: Eric Lowry's Articles, Tuesday Open House Tagged With: Cincinnati Real Estate - Tuesday Open House November 12 2013, Keller Williams Realty West Chester, Liberty Township Housing Statistics, LowryTeam.com, Mason Housing Statistics, Tuesday Open House, West Chester Housing Statistics

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

April 22, 2012 by Eric Lowry Leave a Comment

See what homes are selling for in West Chester & Liberty Township OhioLowryTeam.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):

West Chester LIberty Township Home Sales March 2012

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.

 West Chester LIberty Township Home Sales Last 3 years

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

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

West Chester OH Real Estate: Homes For Sale In West Chester Ohio

December 14, 2011 by Eric Lowry Leave a Comment

West Chester Ohio Homes For Sale

Welcome to the West Chester Ohio homes for sale and real estate search engine, your single resource for finding a home in West Chester Ohio.  With our real estate search engine you can search every available home for sale in West Chester.  Some of the subdivisions that are located in West Chester include Wetherington subdivision, Beckett Ridge, Tylers Reserve subdivision, West Chester Station, Running Deer subdivision, Cherry Lane Farms subdivision and many, many more.

At any given time there are many homes and condos listed for sale in West Chester OH that are available for your online real estate search.  New listings and price changes are updated to our site every day, so be sure to check back  to see the latest listings for sale in West Chester Ohio.

West Chester Ohio Real Estate & Homes For Sale

West Chester Ohio Single Family Homes For Sale

West Chester Ohio Condos & Townhomes For Sale

West Chester Ohio Luxury Homes For Sale

In addition to being able to view all of the homes listed for sale in West Chester Ohio you can also access detailed information on the West Chester OH community, information on the Lakota school system and comprehensive information on home values and pricing trends for West Chester Ohio real estate.

The Lowry Team - Keller Williams Realty

Buy a home in West Chester Ohio with confidence.  We know your home purchase is a big decision and that’s why we specialize in the Northern suburbs of Cincinnati like West Chester.  We know these neighborhoods, where the schools are, how close the grocery stores and the daycare’s are.  In fact our office is located right here in West Chester.

Have a questions about the West Chester area?  Ready to go see some homes?  Contact us right now using the form below and we will respond back to you as quickly as we can!

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    Filed Under: Eric Lowry's Articles, West Chester Ohio Homes For Sale Tagged With: Condos For Sale, Eric Lowry, Keller Williams Realty, LowryTeam.com, Moving To West Chester, Relocating To West Chester, Search Homes For Sale, Search The MLS, West Chester Community Info, West Chester Housing Statistics, West Chester OH Condos For Sale, West Chester Ohio Homes For Sale, West Chester Ohio Short Sales

    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 

    West Chester Ohio Home Values - What is your homes market value?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.  

    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.  

    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

    Filed Under: Beckett Ridge Homes For Sale, Eric Lowry's Articles, Liberty Township Ohio Homes For Sale, Market Update, Real Estate Information, Real Estate Market Reports, Real Estate Market Statistics, Real Estate News, Sellers, West Chester Ohio Homes For Sale Tagged With: Eric Lowry, Eric's Hassle Free Listing, Home Values, Home values in cincy, Housing Market, Keller Williams Realty, LowryTeam.com, Market Value Of My Home, Real Estate Market, Real Estate Market Breakdown, Real Estate Market Reports, VIPHomeFinder.com, West Chester Housing Statistics, West Chester Ohio Realtor, West Chester Real Estate

    LowryTeam.com: Monthly Real Estate Trends Report – January 2011

    January 31, 2011 by Eric Lowry Leave a Comment

    ↑ Click the “Like” button ↑

    Here is the newest edition of our LowryTeam.com Monthly Real Estate Trends Report for January 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 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.

    First we take a look at unit sales for the last six months (July – December):

    This most recent six months of data reflect the time immediately after the home buyer tax credit expiration.  As you can see the drop in sales in this period was pretty dramatic.  The tax credit had the impact of drawing a lot of home sales into the first six months of the year and causing an extensive slow down afterward.  The graph shows that that there has been a leveling off of  home sales in West Chester and Liberty Township during this last six months time frame.

    To put these levels of home sales in proper perspective we can also compare them to the same time periods of the last two years.  In the fall of last year (2009) we had just seen the extension of the original first time homebuyer tax credit.  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 July – December you can see that our current level of home sales had been tracking at a level that was below the levels seen during the financial crisis, but in December moved upward slightly, basically pulling even with December 2008 and down 13.16% compared to home sales in December 2009.

    This continues to be 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 (July – December) 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 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. 

    Track Home Sales In Your West Chester or Liberty Township Ohio Neighborhood Here >> Get Your Personal Market Snapshot!

    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 July – December 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 previous two months had 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.  In December the list to sale price ratio for West Chester & Liberty Township move back up into the middle of the middle ground so to speak.

    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 97.35% of list price.  As you can see, this is a much higher final sales price compared to the overall market average.

    Summary:

    As was stated in last month’s LowryTeam.com: West Chester, Beckett Ridge and Liberty Township real estate market update, the 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, 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, Market Update, Real Estate Information, Real Estate Market Reports, Real Estate Market Statistics, Real Estate News Tagged With: Average Home Sale Prices In West Chester Ohio, Beckett Ridge Real Estate, Beckett Ridge Realtor, Eric Lowry, Eric's Hassle Free Listing, Home Sales, Home Values, Interest Rates, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Market Value Of My Home, Real Estate Market Expert, Real Estate Market Reports, Real Estate Market Statistics, Search Homes For Sale, Search The MLS, VIPHomeFinder.com, West Chester Housing Statistics, West Chester Ohio Real Estate

    West Chester & Liberty Township OH Real Estate: Tuesday Open House – June 15, 2010

    June 15, 2010 by Eric Lowry Leave a Comment

    It’s Tuesday, so this must be the Tuesday Open House.

    What is Tuesday Open House?? Well, it’s clearly not an “open house”. Open Houses don’t sell homes… good internet marketing does… but it seemed like a good title for this weekly blog post.

    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…

    The Union Centre Bash:  There have been a number of questions recently regarding the Union Centre Bash and when it was, etc.  So after a little research I found that it is no longer called the Union Centre Bash, but is now known as the Union Centre Boulevard Blast.  It is scheduled to be August 13 -15, 2010.  According to an article in the Journal News that I found online the “Blast” will be more of a regional draw, employing some best practices from similar showcases across the country.  The direction of The Blast will be directed at families, adults, teens and children with multiple activities happening at the same time, “sort of like what you’d see at a state fair.  You can reach the entire article online here >>Union Centre Boulevard Blast

     

    New Listing: 5466 Sugar Maple Run, Liberty Township, Ohio.  Check out this new listing in Falling Water subdivision in Liberty Township, Ohio.  This is a terrific two story home located on a private,  wooded lot and features a finished, walkout lower level, island kitchen w/ adjoining morning room & hardwood floors and much, much more! 

     

     

    Searching for foreclosures or short sales?  Get a list of all of the foreclosed (bank owned) homes and short sale homes listed for sale in our area for free.  Don’t pay for a list of foreclosures, short sales or distressed properties and don’t pay a subscription fee to any website for one either.  These are homes that are listed for sale and you can have the information on these homes for sale, for free and without any obligation by just clicking here 

     

    2010 Home Sales in West Chester & Liberty Township, Ohio:  The tax credit is over and now is when we find out if the homebuyer tax credits for both the First Time HomeBuyer and the move up homebuyer have had an impact on home sales overall.  The key thing to watch moving forward is the unit sales numbers each month for West Chester & Liberty Township compared to last year.  As can be seen on the graph, the last couple of months have seen home sales above last years totals.  The real indicator of the housing market’s recovery will be what happens moving forward with home sales.  Clearly the homes sales in West Chester & Liberty Township Ohio picked up when the tax credits were in effect, but what remains to be seen is; Will the home sales in the next few coming months remain at or above last year’s numbers so that the total sales numbers for the year remain above last year?  If the sales remain stable and we can stay at or above last years sales numbers, then we would have to judge the tax credits to be a success in stablizing the housing market.  If the sales numbers in the few months are not able to be sustained and in fact fall to levels below last year, then all we will have accomplished will be to move sales up into the early months of the year from the later months (July, August, September) and we will not have really improved the West Chester & Liberty Township housing market in the long term.  What you can see on the graph is a steady increase in the home sales from January through May of this year in a much more dramatic peak than in the last two years indicating that there clearly was an impact from the homebuyer tax credit incentives.  We will continue to monitor the home sales numbers and we will see where we go from here.   >>You can read my 2010 1st Quarter Real Estate Market Report here

     

    Our Facebook fan page of the week is: West Chester Farmer’s Market  You can find information on the Farmers Market, the products that are available there through the summer and more.  As of this writing their page has 129 fans, so I ask that you check out their fan page, become a fan and invite your Facebook friends to do the same.

     

    While you are on Facebook checking out the West Chester Farmer’s Market fan page, please visit and become a fan of our facebook page:

     

     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!

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

    Filed Under: Beckett Ridge Homes For Sale, Buyers, Eric Lowry's Articles, First-time Homebuyer, Just For Fun, Liberty Township Ohio Homes For Sale, Market Update, New Listings, Real Estate Market Statistics, Short Sale / Foreclosure, Tax Credit, Tuesday Open House, West Chester Ohio Homes For Sale Tagged With: Buying Foreclosures, Buying Short Sales, Eric Lowry, Eric's Hassle Free Listing, Falling Water Subdivision, First Time homebuyers, Housing Market, Keller Williams Realty, List of foreclosures, LowryTeam.com, New Listing, Real Estate Market Reports, Tuesday Open House, Union Centre Blvd Bash, Union Centre Blvd Blast, West Chester Housing Statistics, West Chester Ohio Short Sales

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