Home Sales Increase by Seven Percent in Dayton for February 2017!

Dayton_Dusk_River.jpgThe Dayton, Ohio region had a 6.74% increase in home sales during February. A mild winter and low mortgage interest rates have lured home buyers to look and purchase homes. Here are the statistics for the region:

February 2017 vs February 2016

  • 66.74% Increase in home sales (855 homes vs 801 homes)
  • 24.44% Increase in sales volume ($121,789,011 vs $97,954,341)
  • 17.13% Increase in median sale price ($126,500 vs $108,000)
  • 15.03% Increase in average sale price ($142,443 vs $124,836)

January-February 2017 vs January-February 2016

  • 3.77% Increase in home sales (1,705 homes vs 1,643 homes)
  • 18.95% Increase in sales volume ($240,748,221 vs $202,397,531)
  • 17.54% Increase in median sale price ($124,000 vs $105,500)
  • 13.51% Increase in average sale price ($141,201 vs $124,399)

Mortgage interest are still low. Many homes on the market are selling quickly. Is it time to sell your home? Look at homes for sale.

Statistics courtesy of: Dayton Association of Realtors Home Sales Report, February 2017

 

 

Homes are Selling in Northern Kentucky with a Thirteen Percent Increase for February 2017!

NKY_River_Barge.jpgWith a mild winter, home buyers have been out looking and buying homes in Northern Kentucky. The region had a 12.54% increase in home sales for February 2017 as compared to February 2016.  Here are the statistics:

February 2017 vs February 2016

  • 12.54% Increase in homes sold (395 homes vs 351 homes)
  • 12.13% Increase in average sale price ($170,004 vs $151,613)
  • 15.95% Increase in median sale price ($149,000 vs $128,500)
  • 26.19% Increase in sales volume ($67,151,879 vs $53,216,272)

January – February 2017 vs January – February 2016

  • 18.09% Increase in homes sold (777 homes vs 658 homes)
  • 1.96% Increase in average sale price ($161,914 vs $158,797)
  • 5.15% Increase in median sale price ($142,000 vs $135,050)
  • 20.40% Increase in sales volume ($125,807,779 vs $104,488,510)

Although mortgage interest rates have risen, they are still low. With a low inventory of homes for sale, many homes for sale are selling quickly.  Perhaps it is time for your to sell your home!

Look at homes for sale.

Statistics courtesy of: Northern Kentucky Association of Realtors Home Sales Report, February 2017

 

Home Sales are up in Dayton, Ohio for January

MiamiRiver_DowntownSkyline.jpgHome sales rose in January in Dayton, Ohio with a 1.71% increase. This was a record-breaking number of homes sold for the month of January.

January 2017 vs January 2016

  • 1.71% Increase in home sales (834 homes vs 820 homes)
  • 14.40% Increase in sales volume ($116,920,836 vs $102,203,600)
  • 14.52% Increase in median sale price ($119,900 vs $104,700)
  • 12.21% Increase in average sale price ($140,193 vs $124,943)

Are You Thinking of Selling Your Home?
Now may the right time for you to sell your home and purchase another. Home values are rising and mortgage interest rates remain low. Look at homes for sale here.

Statistics courtesy of: Dayton Area Board of Realtors Home Sales Report, January 2017

 

Home Sales Set a Best-Ever January Record in Cincinnati

Cincinnati SkylineCincinnati experienced a record-breaking January in home sales with 1,447 homes sold! The mild winter and still-low interest rates have kept up a sales momentum in the area.

January 2017 vs January 2016

  • 4.33% Increase in home sales (1,447 homes vs 1,387 homes)
  • 13.46$ Increase in sales volume ($261,445,410 vs $230,421,940)
  • 8.76% Increase in average sale price ($180,681 vs $166,130)
  • 12.60% Increase in median sale price ($143,000 vs $127,000)

Thinking about Buying or Selling a Home?
Mortgage interest rates remain low. Home values are rising. With the low inventory of homes available for sale, now may be the right time to sell your home and purchase another one.

Look at homes for sale here.

Statistics courtesy of: Cincinnati Area Board of Realtors Home Sales Report, January 2017

Twenty-Three Percent Increase in Home Sales for Northern Kentucky in January

ViewYellowBridge_Dusk2.jpgJanuary 2017 was a strong month for home sales in Northern Kentucky. Sales rose 23% as compared to January 2016. Homes are selling an average of 60 days on market.

January 2017 vs January 2016

  • 22.13% Increase in home sales (378 homes vs 307 homes)
  • -8.37% Decrease in average sale price ($153,033 vs $167,010)
  • -6.55% Decrease in median sale price ($135,500 vs $145,000)
  • 12.82% Increase in sales volume ($57,846,481 vs $51,272,238)

Great Time To Sell and Buy a Home
It is a great time to sell your current home and purchase another home. Home values are rising, mortgage interest rates are still low. With the low inventory of homes on the market, homes in good condition and priced correctly are selling briskly.

Look at homes for sale here.

Statistics courtesy of: Northern Kentucky Association of Realtors, Home Sales Report, January 2017

Tips Buyers Need to Know in a Seller’s Market

Happy African American Family In Front of Beautiful House.When selling and buying homes, there are three types of real estate markets: buyer’s market, seller’s market and a neutral market. When experiencing a seller’s market, there is a higher demand for homes than the supply has to offer. With not enough homes for sale, buyers tend to compete for the same available homes – which can drive prices up.

Here are some tips home buyers need to know when buying a home in a seller’s market:

Get Mortgage Pre-Approval
You need to know how much home you can afford in order to make an offer on a home, especially in a seller’s market. It is a good idea to become pre-qualified for a mortgage loan to figure out that budget. Once pre-qualified, you can provide a pre-approval letter when making an offer which lets the seller know you are a serious buyer.

Work with a Real Estate Agent
Working with a real estate agent is vital in a seller’s market. Homes that come onto market may sell in a matter of hours. Your real estate agent will be in tune with the availability of new homes for sale so you can act quickly. If there are no homes on the market in the area you desire to live, your agent can reach out to that area’s homeowners to see if they would be willing to sell.

Do Your Research
Knowing where you want to live and what your housing requirements are is important in a seller’s market. Communicate to your agent what home features are a must and those you would like to have but could do without. In this type of market, finding a home with everything on your list probably will not happen. It is best to look for potential in a home to make it work for you. But, do not buy a home you do not love. Remember, you will be living there for at least five years if not longer.

Ready, Set, Go
You may need to act fast with your offer on a home in a seller’s market. A low-ball offer will not work in this type of market. Be prepared to offer full price or over-the-asking price.

When you make an offer, it may work in your favor to find out why the seller is moving so you can figure out what kind of closing date to offer. Making things easier for the seller could work to your advantage.

There are usually a few contingencies (such as the home inspection) in a purchase contract. In a seller’s market, the fewer contingencies, the more attractive your contract will look to the seller.

Rejection
A seller can accept only one offer. If your offer is rejected, remember the home seller wants to make the most money with the least inconvenience. In addition to price, the seller may have accepted another offer that offered better terms (larger cash up front, fewer or no contingencies, already pre-approved for a mortgage, etc…)

If your offer is not accepted, keep your spirits up. There will be another home that meets your needs and soon become your dream home. 

Home Sales Rise Ten Percent for January in Southeastern Indiana

Indiana_Sign.jpgHome sales started off the year with a strong start in Southeastern Indiana. Sales rose 10.2% in January and the average sale price rose by 4%.

January 2017 vs January 2016

  • 10.2% Increase in home sales (54 homes vs 49 homes)
  • 4% Increase in average sale price ($119,500 vs $114,900)
  • 7.1% Increase in median sale price ($131,781 vs $123,080)
  • 18.0% Increase in sales volume ($7,116,200 vs $6,030,905)

It’s a great time to buy or sell a home. Mortgage interest rates are still low and home values are rising. Look at homes for sale here.

Statstics courtesy of Southeaster Indiana Home Sales Report, January 2017, Rick McMillin, Vice President/Sales Manager of Sibcy Cline Harrison