November Home Sales Report

November home sales report

Home sales increased for all regions in November. In Greater Cincinnati, the area had the most home sales of any November on record. In Northern Kentucky, sales rose by 20% and in Dayton they increased by almost 19%.

Mortgage rates are low. Home values are high. It’s a great time to list your home for sale and for buyers to find their dream home.

Here is a report by region of homes sales throughout November 2020:

CINCINNATI / SOUTHEASTERN INDIANA

November 2020 vs November 2019

  • 13.22% Increase in homes sold (2,167 homes vs 1,914 homes)
  • 11.02% Increase in average sale price ($251,501 vs $226,546)
  • 17.84% Increase in median sale price ($215,000 vs $182,450
  • 25.69% Increase in gross sales volume ($545,002,032 vs $443,609,220)

January–November 2020 vs January–November 2019

  • 1.88% Increase in homes sold (24,348 homes vs 23,898 homes)
  • 9.24% Increase in average sale price ($246,927 vs $226,041)
  • 11.93% Increase in median sale price ($205,950 vs $184,000)
  • 11.30% Increase in gross sales volume ($6,012,183,077 vs $5,401,928,888)

Statistics courtesy of Cincinnati Area Board of Realtors November 2020 Home Sales Report

DAYTON

November 2020 vs November 2019

  • 18.97% Increase in homes sold (1,405 homes vs 1,181 homes)
  • 10% Increase in average sale price ($198,977 vs $180,881)
  • 12.90% Increase in median sale price ($198,977 vs $180,881)
  • 30.87% Increase in gross sales volume ($279,562,150 vs $213,619,991)

January–November 2020 vs January–November 2019

  • 3.42% Increase in homes sold 15,787 homes vs 15,265 homes)
  • 10.91% Increase in average sale price ($196,644 vs $177,296)
  • 11.05% Increase in median sale price ($169,900 vs $153,000)
  • 14.71% Increase in sales volume ($3,104,416,420 vs $2,706,425,382)

Statistics courtesy of Dayton Realtors November 2020 Home Sales Report

NORTHERN KENTUCKY

November 2020 vs November 2019

  • 20.70% Increase in homes sold (659 homes vs 546 homes)
  • 18.06% Increase in average sale price ($241,216 vs $204,323)
  • 23.61% Increase in median sale price ($216,309 vs $175,000)
  • 42.49% Increase in sales volume ($158,961,420 vs $111,560,662)

January–November 2020 vs January–November 2019

  • 5.26% Increase in homes sold (7,098 homes vs 6,743 homes)
  • 10.39% Increase in average sale price ($228,376 vs $206,886)
  • 13.07% Increase in median sale price ($201,257 vs $178,000)
  • 16.20% Increase in sales volume ($1,621,016,065 vs $1,295,035,283)

Statistics courtesy of Northern Kentucky Association of Realtors November 2020 Home Sales Report

Look for homes for sale here.

Why You Should Sell Your Home This Winter

House key winter sell your home in winter

While many people understandably shy away from the housing market during late fall and winter, this actually may be a great time for you to sell your home.  In fact, Lawrence Yun, chief economist at the National Association of Realtors, predicts “…it will be one of the best winter sales years ever.” Here is why:

Low Supply of Homes and Low Rates
With today’s real estate market and so many buyers wanting to purchase homes (as compared with historical norms), and a relatively small number of homes for sale, you could find selling your home in late fall and winter to be the perfect time to sell. Low mortgage rates have given home buyers more purchasing power and empowered them to buy now.

Pandemic Lockdowns
With the spring 2020 real estate market being affected by COVID-19, many potential home buyers delayed their purchases and have created a pent-up demand. The purchase season has extended from spring into winter. Their home search is happening now! 

Serious Home Buyers
People are usually busy this time of year, so if they take the time to see your home, they are probably considering purchasing it. With less competition of homes on the market this time of year, your home could catch the eye of that serious home buyer.

Relocating Buyers
January is the popular month for people relocating to a new area to begin their jobs and they typically need to purchase a home in  November and December. They will have a short time to find their next home – and it could be yours that they want to buy.

Move After the Holidays
If you sell in late Novermber or December, you will probably will not have to move until after the holidays in late winter or early spring.

Helpful Hint about Holiday Decor
If you decorate for the holidays, hold back on pulling everything out from the attic or basement. Remember, people want to see your home – not your holiday decor.

Looking for a home? Start your search now!

Pandemic-Triggered Home Trends

The pandemic of 2020 has changed a lot of things and the housing market is no exception. Perhaps no one predicted that lockdowns, stay-at-home orders and a record number of employees working from home would cause a surge in buying and selling homes, but it has.

Along with this surge has come a change in the reasons why sellers list their homes as well as new trends for what buyers want in a home. Recently, Sibcy Cline President Robin S. Sheakley spoke to the Cincinnati USA Regional Chamber’s journal REALM to share some of her insights into the changes happening across the region. Here are some of her observations.

Staying at home forced people to take a good look at the space they live in.

“When the governor issued stay-at-home orders, you saw people really taking stock of their housing and understanding that if they’re going to be locked inside they want different things for their homes,” Robin told REALM, “People were realizing their houses were too big, too small, too urban, too rural, perhaps too open, perhaps too choppy.”

Home improvement efforts triggered a desire for something new.

“We saw a huge trend in home repair and home improvement, and then a lot of people started realizing I’m ready for something different,” Robin said.

The way people shop for homes has shifted drastically.

“There are plenty of stories of homes that were bought without people ever physically going in them, but purchased virtually,” she said. “With the amount of drone photography and videography now, there are all sorts of ways to get a really great sense of a property without standing there yourself.”

In addition to why people move and how they shop for homes, Robin noted a few trends in what buyers are looking for in homes. Here are the top trends she’s noticed:

Spa-like Bathrooms

The need for stress relief is greater than ever, so people are shopping for bathrooms that offer some space for retreat and relaxation.

Home Offices

In the era of working from home and online schooling, homeowners are in need of more space to separate and focus. “We’ve seen people converting bedrooms to offices a lot,” she said.

Outdoor Entertaining Space

The need for social distancing in well-ventilated spaces has increased the desire for more space to gather outside. “People want to be outside. They’re looking to be able to cook, serve, and entertain outdoors,” Robin said.

Downsizing

Some homeowners spent time during the pandemic assessing their space needs and concluded that they need less space, not more. Some want to reduce the time and money they spend maintaining a large home. “There are many people who spent the past nine months looking around asking, Why do I have so much space?” she said.

Ready to make the move? Visit sibcycline.com to browse homes for sale or find an agent.

Home Features that Buyers Want

laundry room

With more time spent at home this year, you have probably heard the whirl and roar of power tools in action throughout your neighborhood. Google reports that “home-improvement” searches have increased by almost 50 percent during 2020. Thinking of making improvements to your home? Spend your money wisely. It is always a good idea to consider re-sale value with home projects. Read below what features home buyers desire the most:

Laundry Rooms
A separate laundry room tops the National Association of Home Builders’ (NAHB) list of wanted features. If you lack a first-floor space for a laundry room, the lower level (or basement) is the place for this room. Many times all of the utility lines are already in place in the basement. And, if there is unfinished space, there will be no costs to demolish. A basement laundry room will probably start around $1,000. If you plan on installing the washer and dryer on an upper floor, the costs start around $10,000.

Efficient Windows and Appliances
Energy-Star rated windows and appliances are what home buyers want to keep utility costs down. Efficient windows can lower costs by 12 percent. Appliances can save owners even more. For example, an efficient washing machine can save $45 a year. If you replace your windows or appliances now you will personally benefit from these savings!

Patio or Deck (Outdoor Spaces)
Creating more living space outdoors is a must when luring potential home buyers. Everything from a large patio, fire pit to an outdoor kitchen – buyers will be drawn to these details at your home. (Deck construction has risen by 275% in the U.S. in 2020)

Ceiling Fans
Per NAHB, 85% of home buyers desire ceiling fans. These devices help lower cooling costs during warmer months. Fans are recommended for ceilings at least eight-feet tall and work best when hung 10–12 inches from the ceiling.

Garage Storage
Maintain the clutter in your garage. By adding storage units and shelves you will make your home even more inviting to buyers. Think about adding racks to store bicycles, rakes and shovels. You will revel in how organized you are! (And so will buyers when it’s time to sell.)

Outside Lighting
Exterior lighting is what adds ambiance to your home. Think spotlights, walkway lights and pendant lighting. It will be a joy to come home in the evening and your neighbors will admire the lighting, too!

Walk-In Pantry
A large pantry allows you to store canned goods and other essentials near kitchen food-prep areas. Pantries should be located in a cool and dry area. The most common size for a pantry is 5’x5′.

Hardwood Floors
Hardwood floors are easy to maintain and are more durable than carpet. They create a clean look for your home and are a very desirable item by home buyers.

Master Bedroom Walk-In Closet
A walk-in closet ranks among the top five features for home buyers. Older homes usually have the most challenges with this type of closet space. If your home does not have a large closet, think about either adding a closet to the room, reconfigure an existing closet or convert a spare bedroom into closet space.

Eat-in Kitchen
Eat-in style kitchens are desired by those who want to gather together for breakfast or an evening meal. To create space for a table and chairs, you may need to knock out a wall. If that is not an option, consider adding bar stools at a kitchen island.

Double Kitchen Sink
Buyers want a sink divided for washing and food prep! This is a relatively easy project to accomplish.

Updated Kitchen and Baths
If you are going to update a few things in your home consider your kitchen and bathrooms. The kitchen is now considered to be the “hang out” room. Make it as large and open as possible. And, remember, home buyers still want stainless-steel appliances. Updated bathrooms will definitely draw the attention of potential buyers. Need some inspiration? Go here and look at some awesome kitchens and baths. On a a budget? Read about these budget-friendly updates for these rooms.

Home Office
More people are now working from their homes. Having a flexible space like a home office will be appealing when it comes time to sell. If there is no room in your home for a formal office, consider creating a hide-away office that is part of a spare bedroom or located in a closet.

Need help with your home project? Contact Sibcy Cline Home Services. They can put you in touch with an experienced local, vetted vendor!














When is the Best Time To Sell Your Home?

Have you ever thought about what time of year is best for selling a home? Each season brings different pros and cons. We have broken down the real estate seasons for you:


SPRING
Historically, spring is the best time to sell. It’s warm and buyers will be out looking for a new home. Statistically, studies show homes that sell during May bring in the highest amount and sell the fastest. Think about it – for those with school-aged children – May is when the school year is coming to a close and is a perfect time to make that move. Plus, springtime shows off homes very well. Plants are emerging and the grass is green. Curb appeal is at its best.

Negatives about selling during spring? There really are not any. There will be more competition of homes available for sale, but there are also more buyers during this time.

SUMMER
The warmer months of summer can be a “hot” time to sell your home. Anyone with children may be focused on getting into that new home before the new school term begins in August or September. Those types of buyers may have competitive offers for your home!

The negative about selling during summer is “vacation”. Some potential buyers may be away enjoying their holiday instead of looking at homes to buy.

FALL
The fall season usually has fewer homes for sale as well as fewer buyers. However, with current market conditions of not enough homes for sale, those spring and summer home buyers could still be waiting for your home to come on the market. Also, COVID-19 kept many people inside during the spring and summer. That has caused pent-up demand for homes for the fall season. Remember, there may be fewer people in the market to buy during fall, but they will be more motivated to make an offer.

The cons of selling during autumn? Fall is not as nice weather wise and the curb appeal of your home will not be at its peak. You’ll need to stay on top of raking dropping leaves as well as replace summer flowers with fall versions.

WINTER
Don’t worry if you are planning on selling your home in the winter season. It may be cold and blustery, but the home buyers who come to view our home are usually not tire kickers. They want to buy! They are determined to find a home now and not wait until spring. Winter tends to have fewer homes for sale and that can work in your favor. Again, with the current tight inventory of homes for sale, some buyers may be waiting until this time to purchase when there is less competition to purchase a home. And, if the months of January and February have mild weather conditions, this can encourage people to get out early for that home buying and selling season.

The negatives about selling your home during winter? If it snows, you will need to maintain a cleared driveway and sidewalks. It is also best to keep holiday decor to a minimum – buyers need to be focused on your home’s features and not excessive holiday trimmings. Outside features such as a deck, patio or pool will not look their best. Perhaps have photos of these spaces from warmer months available for prospective buyers to see.


As you can see, each season has its pros and cons when selling a home. When are you planning to sell? Be sure to connect with your favorite Sibcy Cline agent and discuss what is the best strategy for you!

Curb Appeal When Selling Your Home in Autumn

It’s autumn – a beautiful time of year to enjoy, especially when the leaves are bursting with color. If you are selling your home at this time of year, use the season to your advantage when staging it and add curb appeal:

Fall Debris
With the fall season comes falling leaves. Make sure your gutters are free of debris. You will also need to be diligent about keeping the lawn and sidewalk free of leaves. You may want to invest in a leaf blower to make this chore go more quickly.

Flowers
Your summer flowers should be pulled or trimmed. If the weather is still warm, consider planting some fall plants such as mums, asters or marigolds.

Decor
Tasteful fall decor can add appeal to your home’s exterior. Things look best placed in three’s. These little touches will make your home look warmer and more inviting.

Lighting
When daylight hours are shorter, be sure to have adequate lighting for evening showings.

Maintenance
Be sure to keep up on your fall exterior home maintenance list: Touch up paint. Cover up and fill and holes. Store your lawn equipment. Turn off exterior water faucets.


Need Inspiration?
Follow Sibcy Cline’s Fall Decorating Ideas Pinterest board.

Selling Your Home? Read This First!

If you are planning on selling your home, you may have questions about the process. Here are seven tips to read before putting your home on the market:

1. Do I really need to improve my home before selling it? 
You need to consult with your real estate agent to see what improvements makes sense to sell your home at the highest price. Remember, you only get one chance to make a positive first impression when your home goes on the market to sell. If your home is in need of updates, you could have a hard time to get the interest of the buyer. An unmaintained home sometimes indicates it needs lots of work and repair.

Some home improvements just take some time and a small budget. Painting, caulking and cleaning are great (and economic) ways to make your home shine. If your carpet is old and worn, you may also want to replace it. One thing to remember is that home improvements do not  necessarily equate to a higher price, but should result in more showings and stronger offers.

2. I think I will price high and see what happens. 
Everyone’s goal is to obtain the highest price for their home. (Your agent wants that for you, too!) However, pricing your home way over its current market value is a strategy that does not always work. It can result in fewer showings and no offers and you may be perceived to be an unrealistic home seller. (Those potential home buyers who do tour your home will give feedback that it is overpriced or will have lower offers.) Remember, the most attention given to a home is when it first hits the market. Price it correctly and bring in the offers.

3. My home is worth what?
Over-improving a home can backfire when it is time to sell. For example, if your custom kitchen has finishes to meet your specific taste (with special colors or tile for example), it may not appeal to buyers who will want to replace what you have done. An in-ground spa may be a great feature for you to enjoy, but the buyer might not find value with it. Everyone has different priorities with their home. Bottom line – the market will never pay dollar for dollar for improvements to your home, especially taste-specific projects. 

4. Everyone who sees my home wants to buy it!
Oh, if that were the case! You never know what buyers’ needs are. People have different things that are important to them. Their “need to have” list versus a “nice to have” list may not sync with your home. Do not take it personally if your home’s floor plan or features do not meet their requirements. Also, you need to realize, some buyers are just out looking and are not serious about buying. They may be in the beginning stages of looking for a home and not willing to commit.

5. I had an inspection and now I have to make even more repairs?
A home inspection gives the buyer an idea of the condition of your home. Following this inspection, you may be asked about making repairs depending upon what is on the list. At that point, you can either make those repairs or re-negotiate. If the buyer walks away, your home will go back on the market and you will need to deal with that stigma. Another buyer will then have his  own inspection and you will need to address repair issues once more. (Helpful hint: We suggest paying for a pre-inspection before your home goes on the market. The inspector will review: electrical, plumbing, heating and cooling systems; windows, ceilings, walls, doors and floors; attic, visible insulation and roof; and the foundation, structural elements and basement.)

6. I think I want to include a carpet allowance instead of replacing it. 
You cannot give a buyer an allowance as part of closing on your home. It is better to reduce the purchase price or simply replace the carpet yourself.

7. Do I really need to stage my home?
A staged home presents its best features making it very appealing to buyers. At a minimum, your home needs to have a deep cleanse, decluttering and organization. From there, your agent can guide you as to whether it needs more staging to be market ready to sell. If your home is empty, keep in mind that professionally staged properties for sale tend to sell more quickly. 

 

Your House Is Ready to Sell – But How about the Landscaping?

Curb appeal helps to make a strong, first impression when selling your home.  The “outside property” is an extension of your home and is a signal for what the interior of your home is going to look like. If you are thinking about selling, make sure your home’s landscaping looks fresh and inviting. Here are 10 tips to help make your landscaping look its best:

Mulch
Freshly applied mulch in garden beds does wonders for a yard. This is an economic and instant way to spruce up your landscaping to appeal to home buyers.

Plant Annuals
Annual flowers create instant color in the landscaping. Several flats of flowers are not expensive and you can either have a monochromatic look with similarly hued flowers or add splashes of several colors. You don’t need to go overboard with the flowers – just enough to add color and interest.

Perennials
If you have perennial plants, make sure they look as good as they should. If there is an overgrowth of plants, consider removing some (and then placing them in a decorative pot.) Remove dead and dying plants.

Outdoor Containers
Outdoor containers can add drama to the entryway of your home. You can make up your own containers or purchase them pre-planted. If you already own decorative containers, make sure they are clean and in good shape.

Lawn
The lawn needs to be in good shape when selling. Mowing will be a priority as overgrown grass will detract from your home’s appeal. Edging the lawn is an extra effort, but will make it look very tidy. Remember, a healthy, nurtured lawn is big plus to home buyers.

Clean Up
Be sure to clean up any leaves, weeds, twigs and overgrowth. Shrubs should be pruned and trim. Overgrowth is considered to be a sign of neglect. Trash cans and garden tools should be placed in an organized fashion. Stow outside toys neatly away.

Hardscaping
Stepping stones, gravel and other types of path liners add elegance and will give your yard character and depth.

Driveway/Walkways
Inspect your driveway to see if it needs to be patched. Be sure to power wash the drive and walkways.

Lighting
Outdoor lighting adds drama at dusk. You can purchase LED battery-operated lights that do not cost a fortune. These lights will add “magic” to your home.

Backyard
Clean the grill (or least have a clean cover over it.) Tidy up the fire pit and any water features. Patio furniture including the cushions should be in good condition. Consider “staging” outside furniture for even more appeal. If you have a deck, make sure it is in good shape and power washed. And finally, the garage door should be in good condition and clean.

Need help with your landscaping activities? Contact Sibcy Cline Home Services. They can put you in touch with vetted professionals.

Seven Signs Why You Should Sell Your Home Right Now

With a shortage of homes for sale and bidding wars happening on many listed properties, now could be the perfect time to sell. Is the time right for you? Here are seven signs of why you should sell your home:

  1. You’ve outgrown your home. If there are not enough bedrooms or living spaces inside your current home for you and your belongings, now is a good time to think about “buying up” to a larger home.
  2. Where you live is “booming”. Do you live in one of those “hot” neighborhoods where houses are selling quickly and for a high price? This could be your sign to take advantage of the current market.
  3. You are tired to maintaining your current home. If mowing the lawn, gardening, painting and other chores are no longer fun to do, consider selling now and moving to a less maintenance-intensive type of home that better fits your lifestyle.
  4. You have equity in your home. During the housing crash of 2007, equity fell for most homes – but for many homeowners it is now back – and your home could be worth more than you owe on it. Do you know your home’s value in today’s market? You may be surprised and this could be the big sign to sell. Selling while you have high equity is a great way for you to buy that next dream home.
  5. Life changes. Life’s markers can affect housing needs. Perhaps you need a smaller home now or want to move to be closer to family. Changes in family dynamics and work commutes are a few  more reasons that may be pointing you in the direction of selling your old home and getting a new one.
  6. Low mortgage rates. Mortgage interest rates are at historic lows. When you sell your current home, you will be able to afford even more home with these rates. Take advantage of this market.
  7. You are emotionally ready to move on. Moving is not an easy thing to do. Let the guilt of staying in your old home go. Once you have made your mind up to sell, stay the course. Remember, in many areas, homes are selling quickly – that means less people touring your home, less open houses to host and a fast closing. That sold sign in your yard will be your “sign” to move onward.

Ready to sell? Contact your favorite Sibcy Cline agent

Sibcy Cline’s Listing at 3458 Observatory Place is a Finalist in HGTV’s “Ultimate House Hunt” Contest!

HGTV_House_hunt (3458 Observatory Pl)Sibcy Cline has a listing entered as a finalist for the HGTV Ultimate House Hunt Contest. This annual online promotion held on HGTV.com showcases extraordinary homes for sale in eight categories. HGTV editors have already viewed numerous properties worldwide and made their finalist selections. The public now gets to vote for their favorites.

We Need Your Vote for this Home!

Go to HGTV.com/househunt and scroll down the page to the “Homes With a History” graphic. Click on it, scroll through the finalists (at the top) and look for the home – it’s called “Restored Victorian Home Exterior”. Then cast your vote!

Voting is open to the public and takes place June 30–August 4, 2020. You can vote once a day.

About This HGTV Finalist Property
This beautiful home – located at 3458 Observatory Place – is  listed by John Gillespie and Maria McLaughlin from Sibcy Cline’s Hyde Park office. It’s a Victorian Italianate located in the Observatory Historic District in Hyde Park and has been meticulously renovated, features today’s comforts and has an incomparable view of the Observatory

Thanks for voting for this home – every day!