The school district is an interesting mix of existing neighborhoods and new construction. The school buildings are scattered throughout the district and as the area gets more residents- road construction is struggling to keep pace with demand.
The latest data from the Multiple Listing Service of Greater Cincinnati is for homes and condos listed and sold through the CincyMLS. The information compares the 1st quarter of 2017 to the same time frame in 2018:
In West Chester, the average sale price for single-family homes in during the 1st quarter of 2017 was $245,863 and in 2018 $267,830 a +8% increase. West Chester’s condos sold for an average of $113,790 in 2017 and $106,966 in 2018 a -6% drop.
The highest priced condo in West Chester sold for $258,000 in 2017 and $250,000 in 2018. The drop in sale price was impacted by the lack of new construction and shortage of condos available in the higher priced areas. On the flip side, the highest priced single family home sale in 2017 $673,500 compared to $680,684 in 2018.
Single-family homes in Liberty Township had an average sale price of $290,892 in 2017 and in 2018 $322,371 –a 9% increase. The highest priced single family home sale in Liberty during the first three months of 2017 was $ 607,623 compared to $1,645,000 during the same timeframe in 2018.
In Liberty Township there weren’t any condos sold during the 1st quarter of 2017. The average sale price for 2018 was $333,239 and the highest price sale was $370,000.
While home and condo sales in the Lakota School District remain hot, the lack of properties for sale continues to impact pricing. Another threat to the upward trend in home sales and prices is rising property taxes which are beginning to discourage prospective buyers, especially in Liberty Township.
However several pockets of new construction popping up in both Liberty Township and West Chester at several price levels and this is attracting new residents. Bottom line- if you’re thinking about building, buying or selling –Call/Txt to obtain up-to-date real estate information before making any real estate decisions.