For Sellers
Greater Cincinnati Real Estate Pricing Index
April 19th, 2012 categories: For Sellers
Show me the buyers!
Look at the median list price in selected zip codes to see what buyers are comparing when they cruise the internet looking for their next home.
| 90-day stats for Single Family properties in WEST CHESTER, OH45069 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $231,008 | Average List Price: | $289,815 |
| Total Inventory: | 286 | Price per Square Foot: | $85 |
| Average Home Size: | 2,844 | Median Lot Size: | 17,654 |
| Average # Beds: | 3.75 | Average # Baths: | 2.86 |
| Homes Absorbed: | 11 | Newly Listed: | 17 |
| Days on Market: | 172 | Average Age: | 39 |
| 90-day stats for Single Family properties in MASON, OH45040 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $301,823 | Average List Price: | $410,640 |
| Total Inventory: | 345 | Price per Square Foot: | $96 |
| Average Home Size: | 3,117 | Median Lot Size: | 16,643 |
| Average # Beds: | 3.83 | Average # Baths: | 3.05 |
| Homes Absorbed: | 14 | Newly Listed: | 21 |
| Days on Market: | 172 | Average Age: | 39 |
| 90-day stats for Single Family properties in FAIRFIELD, OH45014 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $148,129 | Average List Price: | $160,037 |
| Total Inventory: | 178 | Price per Square Foot: | $70 |
| Average Home Size: | 2,010 | Median Lot Size: | 14,072 |
| Average # Beds: | 3.32 | Average # Baths: | 2.29 |
| Homes Absorbed: | 8 | Newly Listed: | 9 |
| Days on Market: | 175 | Average Age: | 42 |
| 90-day stats for Single Family properties in FAIRFIELD, OH45014 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $148,129 | Average List Price: | $160,037 |
| Total Inventory: | 178 | Price per Square Foot: | $70 |
| Average Home Size: | 2,010 | Median Lot Size: | 14,072 |
| Average # Beds: | 3.32 | Average # Baths: | 2.29 |
| Homes Absorbed: | 8 | Newly Listed: | 9 |
| Days on Market: | 175 | Average Age: | 42 |
| 90-day stats for Single Family properties in CINCINNATI, OH45233 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $142,092 | Average List Price: | $199,666 |
| Total Inventory: | 100 | Price per Square Foot: | $69 |
| Average Home Size: | 2,270 | Median Lot Size: | 16,876 |
| Average # Beds: | 3.49 | Average # Baths: | 2.32 |
| Homes Absorbed: | 3 | Newly Listed: | 5 |
| Days on Market: | 208 | Average Age: | 43 |
| 90-day stats for Single Family properties in CINCINNATI, OH45208 as of May 11, 2012 | |||
|---|---|---|---|
| Median List Price: | $307,436 | Average List Price: | $418,841 |
| Total Inventory: | 164 | Price per Square Foot: | $155 |
| Average Home Size: | 2,112 | Median Lot Size: | 7,137 |
| Average # Beds: | 3.47 | Average # Baths: | 2.52 |
| Homes Absorbed: | 6 | Newly Listed: | 10 |
| Days on Market: | 208 | Average Age: | 36 |
Properties that are priced right are the first ones seen by motivated buyers. Sellers who decide to price slightly higher and wait for an offer- never get one. Still not sure about pricing your property- call me.
| Discussion: Comments Off
Are You Getting Your Fair Share of the Greater Cincinnati Real Estate Market?
April 18th, 2012 categories: For Sellers
What part of the pie did your slice come from?
Funny question to ask- because if it’s a great piece of pie no one really cares where the slice came from. Real estate sales within the four counties that compromise greater Cincinnati are pretty much the same. However sellers need to understand how the local real estate pie is carved. According to the Multiple Listing Service of Greater Cincinnati 1210 single family homes sold/closed. And the majority of sales were for homes priced under $200,000.
131 condos sold/closed with the same results.
The sales prices send a clear message to Cincinnati area sellers- if you’re hovering slightly above one of the “big slices” you may want to adjust your pricing. And if you have a higher priced property- currently there are fewer buyers in your price range and property may take longer to sell.
Call or email if you have questions about “your slice of Cincinnati Real Estate”.
| Discussion: Comments Off
Real Estate Remodeling- Cost Versus Value Report
April 16th, 2012 categories: For Sellers
remodeling.hw.net/
While waiting for the real estate market to gain some momentum-many sellers are updating their homes in hopes of getting a higher sale price.
They call wanting to know which upgrade has the highest dollar value when selling- my answer is almost always- the better question to ask yourself might be- am I upgrading for my own enjoyment or to add resale value? Perhaps the most important thing to remember when you’re thinking about upgrading or updating is to ask yourself “why”. If you are adding an ultra gourmet kitchen to a home in greater Cincinnati or West Chester and your current property is already more updated (read….owners have a;ready sunk a lot of money into remodeling and upgrades) the chance or recovering your investment in the short term is very questionable.
Since there’s no magic value wand to wave over the newly upgraded kitchen to determine value added- the second best thing is a Remodeling’s yearly report for various cities throughout the US. (And thanks to Hanley Wood for compiling the data each year.)
The chart below is a snapshot of estimated cost versus the value for normal upgrades in the greater Cincinnati area:
As you can see recovering the total investment is not likely and I can tell you from personal experience the estimated prices for the job (ie: new front door) is usually lower than the actual costs. Sometimes simple things like paint and carpet give your property a “newer look” and can have a huge impact on buyer perception when they view the property.
If you’re only updating for resale- call me and get a professional opinion before you spend your money.
| Discussion: Comments Off
Clutter Clutter Everywhere?
April 2nd, 2012 categories: For Sellers
- Store the Clutter!
What to Store Before Your Property Goes on the Market
So, you’re selling your house soon and you know you have to get it all nice and tidy for showing to prospective buyers, but did you know that you need to remove nearly half your stuff too? It seems like a lot, but when you put your house on the market, there are a lot of things that can go into temporary storage in order to open up and de-clutter the property.
Here is a step-by-step list of all the things that need to be removed before anyone comes to show the house.
1. The Foyer or Entrance Hall
This area often becomes the drop room for families. Meaning that shoes, jackets, book bags, a table full of clutter, houseplants, umbrella racks and a rug are often found. Absolutely no clutter of any kind can be in this area. Make the kids take their stuff to their rooms, and get rid of the entrance table altogether so that you’re not tempted to let things build up on it. One houseplant is ok, but any more than that should be dispersed strategically throughout the house.
2. Kitchen Clutter
Counter tops should be cleared completely, and decorations should be stored. Prospective buyers need to see a blank slate, not your home-sweet-home.
3. Living & Family Rooms
Much like with the kitchen, it needs to be stricken of any unnecessary stuff. A sofa and chairs, TV and coffee table are fair game, but most everything else, especially things that sit on the floor or on shelves should also head for storage.
4. Bedrooms
Posters and paintings should come down and unless it is pretty neutral, only bedroom furniture gets to stay.
These adjustments can seem pretty major at first, but just remind everyone that they are temporary and when you move into your next place, everyone’s stuff will make the move as well. When you’re packing your storage unit, put anything you think you might need near the entrance to the unit just in case.
[Author’s Bio: In his role in the self storage industry, Garret Stembridge helps customers care for their cherished belongings that must be put in storage. Garret goes to see his facilities including a self storage facility in Cincinnati center. He was also recently meeting customers and staff at the Troy self storage facility]
| Discussion: Comments Off
Are You Competitively Priced for the Greater Cincinnati Real Estate Market?
March 28th, 2012 categories: For Sellers
How does the pricing of your single family home stack up when buyers are looking at 8300 homes for sale in Butler, Clermont, Hamilton and Warren Counties?
Lots of information is available about prices in the local Cincinnati real estate market -if you have any questions or need to see the “numbers” for your neighborhood/subdivision-just let me know.
Potential buyers looking at homes for sale in 45233 have access to 76 active listings with an average list price of $210,774 and comps for sales -18 sold since January 1st -average sale price is $169,075. According to Altos Research -Median List Price and Days on Market: (Note difference in numbers is chart below covers the last 7 days)
In 45208 have access to 123 active listings with an average list price of $438,416 and comps for sales -34 sold since January 1st -average sale price is $422,765. According to Altos Research -Median List Price and Days on Market:
45014 has 127 active listings with an average list price of $161,584 and comps for sales -37 sold since January 1st -average sale price is $126,553. According to Altos Research -Median List Price and Days on Market:
45011 has 393 active listings with an average list price of $185,188 and comps for sales -123 sold since January 1st -average sale price is $145,737. According to Altos Research -Median List Price and Days on Market:
45040 has 245 active listings with an average list price of $440,673 and comps for sales -68 sold since January 1st -average sale price is $345,245. According to Altos Research -Median List Price and Days on Market:
45069 has 219 active listings with an average list price of $292,763 and comps for sales – 65 sold since January 1st -average sale price is $213,152. According to Altos Research -Median List Price and Days on Market:
| Discussion: Comments Off
