By the Numbers for Fairfield and Fairfield Township Real Estate
August 26th, 2010 categories: Fairfield Township, Fairfield, Ohio
The Fairfield and Fairfield Township real estate market is up and down and up….
According to the Multiple Listing Service of Greater Cincinnati real estate activity is shown below:
|
Fairfield |
Single Family |
Average Price |
Days on Market |
Condos |
Average Price |
Days on Market |
| Actives |
146 |
$166,631 |
104 |
120 |
$84,400 |
118 |
| Pendings |
48 |
$151,190 |
67 |
16 |
$77,694 |
81 |
| Closed (01/01/10-07/31/10) |
171 |
$146,870 |
69 |
54 |
$70,596 |
89 |
Data from Greater Cincinnati Multiple Listing Service
|
Fairfield Twp |
Single Family |
Average Price |
Days on Market |
Condos |
Average Price |
Days on Market |
| Actives |
126 |
$198,069 |
125 |
17 |
$131,697 |
103 |
| Pendings |
34 |
$158,270 |
92 |
2 |
$100,950 |
11 |
| Closed (01/01/10-07/31/10) |
106 |
$167,916 |
73 |
8 |
$ 97,350 |
80 |
Data from Greater Cincinnati Multiple Listing Service
Fairfield’s single family homes showed slight increases (very slight) in list, pending and sales prices for July. Everything else decreased with the average listing price in the Township declining by $15,000. Buyers are still out there, but with so much inventory available it continues to be a “buyer’s market” and pricing is critical.
Email with questions or if you need more detailed information.
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Cincinnati’s Foodstore Freebank Needs You!
August 25th, 2010 categories: Entertainment
No doubt about it- yesterday’s real estate news was a bummer.
However instead of focusing on “what’s wrong” maybe it’s time to find the upside by reaching out to help your friends and neighbors living in our community. One my favorites events is the “Rubber Duck Regatta” where 100,000+ bright yellow ducks soar (actually they are dumped) off the “Purple People Bridge” during downtown Labor Day festivities. This year the ducks are leaping at 3pm on Sunday, September 5th.
All the proceeds benefit the Freestore Foodbank who distributes over 12 million pounds of food each year through a dedicated network of over 325 local Member Agencies.
A $5 donationbuys a numbered duck and if your rubber ducky floats across the finish line first- you win a car. If you have a few extra dollars $25 buys 6 ducks. So in addition to helping others- you get the opportunity to cheer on your duck in the race- a win/win.
Good luck- I’m pretty sure the winning yellow rubber duck has my name on it!
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Real Estate Activity for Greater Cincinnati
August 24th, 2010 categories: Real Estate Stats
Below is the Market Action Reports for 6 zip-codes in the greater Cincinnati area – click here to order your report….or call or email for details.
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Is Cash King in Cincinnati Real Estate?
August 23rd, 2010 categories: Real Estate Sales
Does cash really make you a king in real estate? For one buyer in greater Cincinnati $3,200,000 in cash purchased an Indian Hill palace.
The greater Cincinnati area is experiencing the same phenomenon that many other cities are experiencing – an increase in real estate buyers paying jaw dropping amounts of cash to buy a home.
According to the Multiple Listing Service of Greater Cincinnati from January 1st through August 10th of this year- 75 single family homes and 16 condos with sale prices of $300,000 and above have sold for cash in Hamilton, Butler, Warren and Clermont counties. The highest price home sold for $3,200,00 and highest priced condo for $842,026. Don’t take this the wrong way, metro Cincinnati is by no means moving toward a “cash driven real estate market”- but cash deals do happen in our area.
Last year during the same timeframe 62 single family homes and 14 condos were cash deals. The highest priced home was sold $4,500,000 however the tax records indicate a holding company was the purchaser- so I’m guessing somebody is going will eventually sub-divide the lots and build more homes on the property. The winner in the condo category sold for $1,500,000.
While it may seem “to good to be true” there’s always a “slim chance” in our area that the buyer will offer cash and yes we’ll probably take a 2nd and 3rd look at the contract to ensure somebody didn’t check the wrong box.
Don’t forget that cash buyers need to provide similar information as a buyer with conventional financing- proof the funds required to close are readily available. The information needs to be provided by a reputable source such as a bank, trustee, lawyer or investment firm.
Cash is only king-if you actually have the money to close on time.
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Are Single Family Homes Selleing in Greater Cincinnati?
August 20th, 2010 categories: Real Estate Sales
Good news for sellers in all 4 counties in metropolitan Cincinnati. According to the Multiple Listing Service of Greater Cincinnati, sales volume is up for 2010 as compared to 2009.
However, as the chart below indicates, increased sales volume doesn’t convert into huge price gains for sellers.
Single Family Sales by County
| 2009 | 2010 | |||
|---|---|---|---|---|
| # Units | Avg Sales Price | # Units | Avg Sales Price | |
| Butler | 1889 | $140,398 | 1900 | $148,656 |
| Clermont | 952 | $165,775 | 1052 | $168,802 |
| Hamilton | 4524 | $143,573 | 4477 | $162,911 |
| Warren | 1156 | $218,728 | 1196 | $214,822 |
In Warren County, the average sale price has actually decreased and the # of houses sold is down for Hamilton County.
Real Estate is selling, but sellers need to stay on top of the market and price accordingly.
If you need help figuring out today’s real estate realities- call or email me now.
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