Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

The Eagleridge Effect

filed under: Real Estate posted on August 7th, 2017

eagleridge effectThe Eagleridge Effect happens when you think the local Cincinnati real estate market is great and every day you drive a street with multiple homes for sale and no sold signs.

However, looks can be deceiving.  Eagleridge Drive in West Chester boasts 7 homes for sale, 1 pending sale and 6 properties that sold/closed during the last 6 months.  So while it appears like homes aren’t selling on Eagleridge Drive it’s currently averaging approximately 1 sale a month.   

The Eagleridge Effect isn’t a real thing but it happens in lots of neighborhoods.  The real estate market is hot.  Lots of empty nesters (and regular people) have been waiting for the value of their home to appreciate before making a move.  Values are up, neighbors are putting homes up for sale so it seems like the time to cash in is now. 

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Looking at the data and it appears the owners of the homes for sale have lived resided on Eagleridge as far back as 1987.  The last time one of these properties changed hands was 1995 – 22 years ago.at all of the homes currently for sale 

So what appears as a problem or the “the Eagleridge Effect” is really just normal moving patterns occurring in lots of Cincinnati neighborhoods.  It doesn’t mean sellers are desperate to sell and buyers can make low ball offers.  However, it’s good information for both sides to consider when listing or buying a home.  In the case of Easgleridge styles and prices come in all ranges- from ranch style to two-story traditional homes.  List prices range from $274,900 to $329,000.  During the last 6 months, the average sale price was $318,271.  

Don’t let your assumptions allow you to make uninformed real estate decisions.  Get all the facts and data so you really know what’s going on in your neighborhood.

 

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