Is the Local Cincinnati Real Estate Market Chugging Along?
October 3rd, 2008 categories: Beckett Ridge, Cincinnati, Ohio, Liberty Township, Ohio, Real Estate Buying, Real Estate News, Real Estate Selling, West Chester, Ohio
In spite of the daily deluge of nasty economic news, the greater Cincinnati real estate market is chugging along.
Think of our real estate market as an old train grinding its way slowly up the side of a mountain eventually reaching it’s destination….despite all the lurching, groaning and creaking.
Everybody on the train will arrive at their destinations- but the “ride” will not be comfortable or hassle free.
Mortgage money is available- for qualified buyers. New real estate listings appear everyday and buyers are house hunting!
In the last 30 days, homes and condominiums in greater Cincinnati, Ohio continue to sell.
Pending sales for the last month:
Good news is that Washington may get its act together and begin to reassure investors. The bad news is that it will take some time for the “fix” to trickle down to main street. However, remember- real estate in West Chester, Hyde Park, Mason and the rest of the area continues to sell. So if you are thinking about buying or selling real estate - now is the time.
If you need help or questions answered- feel free to call or email.
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Is Cincinnati Real Estate Affordable?
October 1st, 2008 categories: Cincinnati, Ohio, Real Estate Buying, Real Estate News, Real Estate Selling
Surprise - Cincinnati made the cutoff in Forbes Top 10 Least Expensive Places to Own a Home. (Slideshow)
In order:
Cleveland: $978. a month
Columbus: $1,060. a month
Pittsburgh: $1,187. a month
San Antonio: $1,216. a month
Indianapolis: $1,232. a month
Nashville: $1,256 a month
New Orleans: $1,296. a month
St. Louis: $1,299. a month
Charlotte: $1,336. a month
Cincinnati: $1,353. a month
Personally, I was surprised to see Charlotte was less expensive than Cincinnati. Affordability has made the greater Cincinnati area home for many Fortune 500 Companies and this recognition is good for our area.
If you are having trouble finding affordable housing- call or email.
Information Source: Forbes article by Lauren Sherman
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Is There a Silver Lining in Real Estate for Greater Cincinnati?
September 25th, 2008 categories: Cincinnati, Ohio, Real Estate News, Real Estate Selling, West Chester, Ohio
Housing sales and prices are plummeting….just a little.
This morning’s Cincinnati Enquirer Article covering the local housing market is full of doom and gloom. And yes, we are in a housing slowdown, but if you look at the numbers-properties continue to sell.
Let’s take a look at 14 days of real estate activity for single family homes in a few areas:
Without going into great detail, in most areas sellers continue to put their properties on the market and buyers are buying. During the last 14 days it appears that real estate is really moving in Beckett Ridge, Hyde Park, Liberty Township and Mason. Next week the numbers could just as easily show spurts in other neighborhoods.
The latest Real Trends commentary on the real estate market touched key points:
- “….the key point here. The longer that sellers and real estate professionals put off pricing homes at today’s market the longer the period of time it will take for the market to recover.”
- “Real Trends believes that the market bottom is still in the future as closings of home sales weakend in August from July.”
Mortgage rates remain low and money is available for qualified buyers.
As Wall Street and Washington DC contiue to grapple with bailout issues, the buying public is standing around waiting for some sign to jump back into the stock and real estate market. Meanwhile, in greater Cincinnati there are buyers househunting today-who will buy a home/condo in the next 30 days.
The “silver lining” is for the sellers who priced their property for the “next buyer”…and have sold and/or will sell their properties…and move on.
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2007 vs 2008 Condominium Real Estate Sales
September 13th, 2008 categories: Cincinnati, Ohio, Real Estate News, Real Estate Selling
Condominium sales/closings for Butler, Clermont, Hamilton and Warren Counties are still lag for the same time frame last year.
According to data pulled from the Multiple Listing Service of Greater Cincinnati, the number of condos sold/closed as well as the dollar volume are lower for year-to-date comparing 2007 (blue) to 2008 (red).
The figures may vary for your particular area or complex-so if you need more detailed information call or email.
Related Articles: July Condo Stats, July Single Family Home Stats
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August Real Estate Sales for Fairfield and Fairfield Township
September 11th, 2008 categories: Fairfield, Ohio, Real Estate News, Real Estate Selling
|
Fairfield School District |
Single Family |
Average Price |
Days on Market |
Condos |
Average Price |
Days on Market |
| Actives |
331 |
$200,138 |
96 |
114 |
$95,257 |
106 |
| Pendings |
73 |
$185,486 |
58 |
25 |
$81,951 |
92 |
| Closed (01/01/08-08-31-08) |
346 |
$165,975 |
79 |
70 |
$ 87,562 |
101 |
Data from Greater Cincinnati Multiple Listing Service
Declining real estate closings does not signal the end of real estate for Fairfield and Fairfield Township.
41 single family homes and 15 condominiums closed in August, down from July but keeping pace with the slow down exhibited in both West Chester/Liberty Township/Beckett Ridge and the Mason markets.
Once again- “price it right” should be the only focus for today’s sellers.
If you need more detailed information about your subdivision or condo complex -call or email.
Related Articles: July Stats, August Stats for Mason, Ausgust Stats for West Chester/Liberty Township/Beckett Ridge
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