The construction of new town homes at the Villages at The Streets of West Chester is buzzing with activity. That’s good news for not only buyers but also for the retail operations nearby. New construction equals more people which equals more shoppers, movie goers and food junkies. The cycle helps keep an area vibrant and full of activity. The latest numbers for 45069 reflect a drop not only in the median prices for single family homes but also for condos. According to the Multiple Listing Service of Greater Cincinnati potential buyers have 7247 single family homes and 1240 condos – a very slight increase in the number of single family homes while holding steady with the number of condos listed since the last zip code report.
The weather and lack of inventory continue to drag sales down and except for a few zip codes, median prices are stable or dropping. For the first time in a couple of years, local sales were off for January and while everybody is looking for a reason- reality says zero degrees and snow is not a big buyer motivator. I think the next few weeks (barring local weather disasters) will see lots of new listings because sellers have been waiting for “spring” and the time has arrived. More new listings should fuel activity for the next 4-6 weeks and hopefully the local real estate market will pick up some steam.