The average sale price is about the same as last year.
There are a total of 129 homes for sale (data from Multiple Listing of Greater Cincinnati). 90 sales are in pending status and 256 homes have sold/closed since January of this year. 71 or 55% of the listings are resales, 81 or 90% of the pendings and 222 or 87% of sold/closed.
The chart (above) provides a great view of the actual numbers broken down by # of bedrooms. Liberty Township is not unusual with more 4 bedroom homes available and sold over time. But your Realtor® can dig down and provide more data about what’s happening in your price point. For example, if you’re thinking about listing your home between $500,000 and $600,000 you have lots of competition. 18 active listings, 8 pending sales and 16 sold/closed since January. Looking at absorption rates (solds/months=Abs Rate) there is a 5.6 month supply of homes in this price range.
However, if your home is a resale the numbers change dramatically. The absorption rate for resales priced from $500,000 to $600,000 increases to 5.5 months.
With tons of new construction popping up in Liberty Townships the housing market will continue to be active. Competition between resales and new builds impact how much sellers can expect to ask.