Dayton Home Sales in March 2014

House 12

Winter 2014 affected the home sales for March for the Dayton, Ohio region:

  • March 2014 versus March 2013
  • 4.50% Decrease in sales units (933 versus 977)
  • 6.06% Decrease in sales volume
  • .44% Increase in sale-to-list price (96.04% versus 95.62%)

Home sales year-to-date in Dayton, Ohio are down 3% as compared to the same time last year.

On a brighter note, the number of listed properties in Dayton has risen 1% over March 2013. There is currently a  7.4 month average inventory of homes on the market at this time.

It’s a great time to list and sell a home. Home prices are starting to rise and mortgage interest rates are still low.




Northern Kentucky Home Sales Increased Almost 24 Percent in September 2013


Northern Kentucky had very strong home sales in September 2013. Sales increased almost 24% during the month as compared to September 2012.

Statistics for September 2013 Compared to September 2012

  • 23.68% Increase in sales units
  • 16.70% Increase in average price ($161,694)
  • 10.79% Increase in median price ($136,000)
  • 79 Average days on market (as compared to 90 in 2012)

Year-To-Date Statistics from January – September 2013

  • 18.35% Increase in sales units
  • 7.22% Increase in average price ($156,039)
  • 5.47% Increase in average price ($135,000)
  • 85 Average days on market (as compared to 94 in 2012)

Mortgage interest rates are still low. It’s a great time to buy and sell a home.

Statistics compiled by the Northern Kentucky Association of Realtors. 


Cincinnati Homes Sales Show 23 Percent Growth in September 2013


September 2013 showed a continued upward growth in home sales for Cincinnati, Ohio. Home sales for the month were up 23% as compared to September 2012. The area’s real estate market has had 27 consecutive months of increased sales.


September 2013 Homes Sales As Compared to September 2012

  • 23.06% Increase – Sales Volume Closed
  • 25.95% Increase Gross Sales Volume
  • 2.35% Increase Average Price ($162,697)

Year-To-Date Home Sales (January – September 2013)

  • 23.45% Increase – Sales Volume Closed
  • 30.99% Increase Gross Sales Volume
  • 6.11% Increase Average Price ($166,721)

Inventory of Homes 
The inventory of homes has declined from 11,558 in 2012 to 10,527 listings in 2013 – a 8.9% decrease. Homes for sale (if priced competitively and move-in ready) are in a position to sell faster. 

Mortgage rates remain and homes are still affordable.

Statistics provided by the Cincinnati Area Board of Realtors.

Cincinnati, Ohio Makes the MSN America’s Ten Cheapest Livable Cities


Live in the Cincinnati area? Hold your head high! MSN Money reports the area as one of the top 10 Cheapest Livable American Cities.

Why Cincinnati?

  • Median Home Price: $127,116
  • Cost of Living: 85.7% of the National Average

Housing costs in Cincinnati as 59% below the national average and the cost of living is just 86% of the U.S. average. The area is affordable was well as has many of the amenities that larger (most expensive) cities offer.

What is there to do in Cincinnati? Lots!

  • Sports with the Cincinnati Reds and Cincinnati Bengals
  • Museums: Cincinnati Museum Center, Cincinnati Art Museum. National Underground Railroad Freedom Center, Taft Museum of Art and the Contemporary Arts Center
  • Great parks to visit and the nationally renowned Cincinnati Zoo
  • The Arts: Cincinnati Ballet, Cincinnati Symphony and Cincinnati Opera

Look for more to do in Cincinnati here and here, and things to do in downtown Cincinnati here.

Buy A Home Because Rents Are Increasing!

Everyone has a monthly housing expense whether one owns or rents. The question is how that expense will change in the future.

With homeownership, that monthly housing expense is locked in (for the most part) for the length of the mortgage. When renting, the housing expense is impacted by movements in the supply and demand for rental properties.

Historically, residential rental rates have increased by 3.2% on annually. However, in the current housing environment, there is an increasing demand for residential rental properties. This increase in demand has dramatically impacted rates. A recent report has revealed U.S. rental rates increased by 4.5% over the last 12 months. Other studies have projected 4-5% rental rate increases for the next few years.

The only way to have control of your housing expense is to buy.

But Isn’t Buying A Lot More Expensive Than Renting?
Not right now! With home sale prices down and mortgage rates at historic lows, it is less expensive to buy than rent in most areas.

According to Economist Jed Kolko, “…Buying remains cheaper than renting in all 100 large metros. Even buyers who can’t get today’s lowest mortgage rates will still find that buying makes more financial sense than renting in nearly all local markets.”

However, Kolko went on to say that this opportunity may soon disappear: “Although buying a home is still cheaper than renting, the gap is closing. In 2013, home prices should rise faster than rents, and mortgage rates are likely to rise in the next year as the economy improves. By next year, buying could be more expensive than renting in some housing markets, even for people with the best credit.”

Again, the only way to lock-in your monthly housing expense is to take that decision out of the hands of a landlord by owning. With both prices and interest rates set to increase, the best time to buy is right now.

Article courtesy of The KCM Blog.

Housing Is Back – Time to Sell and Buy a Home

Money Magazine Cover - April 2013

Money Magazine Cover – April 2013

If you haven’t noticed, there is a lot of talk going on about the housing real estate market. Sibcy Cline’s real estate agents are very busy selling homes. For 2013, housing is back!

What has changed in real estate?

  • Home sale prices are starting to increase
  • Homes are now more affordable than they’ve been in 40 years
  • The number of homes for sale is at the lowest level in 10 years

In our market area, there is currently a 4.1 month supply of homes. This means there are not enough homes available for sale and there are too many buyers for too few homes.

Should you sell your home now or wait for prices to increase?

No one can predict the future. If you sell now, there are more buyers who could purchase your home at today’s market rates. If you wait for home prices to increase, the supply/demand ratio will begin to balance out with more homes for sale and your listed home will have more competition on the market.

Talk to your Sibcy Cline agent about your particular market area to see what is right your situation.

Tips for Buying A Home in 2013

Why Buy A Home Now?
The first quarter of 2013 is looking to be a good time to make a home purchase. Housing prices are just starting to rise and interest rates are still at all-time lows. It is still a buyer’s market and there are great values to be had. But, since the real estate market is in transition to recovery, home values are rising. Making that home purchase now could save a home buyer thousands of dollars in the long term, with reduced risk and a much greater likelihood of appreciation. Home buyers should consider the long-term cost of owning a home now.

Long-Term Cost of Purchasing a Home
When considering the timing for a home purchase, a buyer needs to ask, “What is the cost of the home going to be in the long term?”

Interest rates were above 6% since the early 1980s. It has only been since 2007 that such historically low mortgage rates have been enjoyed below that percentage. (See chart.)

The Mortgage Bankers Association has predicted mortgage rates to start rising sometime in 2013 (4.4% – 4th quarter 2013 versus 3.9% – 4th quarter 2012). Add in increasing home prices, and the cost of buying a home is going to increase. Here is an example:

1st Quarter 2013 – Current Home Sale Price
$200,000 home with a 3.5% (30-year) mortgage rate = $898.09 monthly payment (principle and interest)

4th Quarter 2013  – Using Predicted Rates
The same home is now $204,880 ( with a modest rise of 2.24% in home value ) at a 4.4% (30-year) mortgage rate = $1,025.96 monthly (principle and interest)

  • $127.87 more per month will be paid for that same home
  • $127.87 x 12 months = $1,534.44 more paid yearly
  • $1,534.44 x 30 years = $46,033.20 more paid long-term for the home – This is the long-term cost for waiting one year to make that home purchase.

Your Home Search
Here are some tips (courtesy of CBS News – MoneyWatch) when looking for a home:

  • Can you afford a home? This is very important question. Hopefully your finances will determine that a home can be part of your financial plan.
  • Save for a down payment.
  • Do your research. When you find a desirable home, you need to research the comparable findings in that area.
  • Know what your credit report states. It is important to correct any errors when applying for a home mortgage. Obtain a free copy of your credit report from
  • Obtain pre-approval for a mortgage. This approval will give you a good price range of what you can really afford to buy. Sibcy Cline Mortgage Services can assist with this step.
  • Use a Sibcy Cline Agent! Your agent is vital in making a good decision on your home purchase. That professional can provided comparable sold and listing data and be involved with your purchase contract.
  • Get a home inspection. This professional will review the home inside and out and address any problems it may have to protect your potential investment. Sibcy Cline Home Services can assist in putting you in touch with such an experienced home inspector.
  • Get homeowners insurance. Coverage on the investment in your home is necessary. Your Sibcy Cline Insurance Agent can walk you though the process so that you have proper coverage.
  • Review your HUD Statement before closing on your home. You want to make sure there are no mistakes.

Modern Home Tour in Cincinnati September 8, 2012

4320 Drake Rd in Indian Hill

We love looking at homes at Sibcy Cline Realtors — it’s what we do on a daily basis!  If you enjoy seeing homes, too, you might be interested in purchasing a ticket for the Modern Home Tour Cincinnati that is taking place on September 8, 2012 from 11am – 5pm.

This tour is featuring 5-10 modern-designed homes located throughout the city. These already-occupied homes have opened their doors so people can view their living spaces and appreciate how they live in the “modern way”. Some of the homes (including Sibcy Cline’s listing at 4320 Drake Road in Indian Hill) are on the real estate market and some are not.

It is a great opportunity to personally appreciate a curated list of homes showcasing some great examples of Modern architecture.

Find more information about this tour here.

Cincinnati Homearama 2012 – Willows Bend

It’s June,  it’s time for Homearama, and it’s the 50th anniversary for this show! This year’s home show is located  in Willows Bend in Miami Township in Clermont County.

What will see at the show? There are seven homes that are gorgeous inside and out priced from $675,000 – $1,000,000. One of the home is $0 energy use! The Potterhill home reuses rainwater and collects the sun’s rays to power the electric.

Directions: I-275 to Ward’s Corner exit. North on Wards Corner Road. Turn right on Willows Bend Drive and follow the signs to Homearama parking.

Dates: June 9 – 24, 2012
Hours: Monday – Thursday 4pm – 10pm; Friday – Sunday: 12pm – 10pm
Admission charge

Special Homearama Days:

  • Military Mondays – (6/11/12 and 6/18/12) – Guest with military identification receive a $3 discount on admission
  • 50th Anniversary Thursdays (6/13/12 and 6/21/12)) – The first 50 guests to enter the show receive a special gift commemorating the 50th anniversary for Homearama Cincinnati
  • Ahmed Hasson of DIY Network (6/14/12) – A celebrity guest appearance by Ahmed Hassan

About Willows Bend:

  • 84-acre community
  • 92 lots
  • First Clermont County hosted Homearama

Read an article from the Enquirer about Homearama.

March Home Sales Are Up!

The Cincinnati, Kentucky and Dayton Boards of Realtors reported positive March sales for 2012!

Cincinnati, Ohio
The Cincinnati Area Board of Realtors reported 1,505 closings of single-family homes and condominiums last month, up 1.01% over March 2011.  It’s the ninth consecutive monthly increase.

Northern Kentucky
Statistics from the Northern Kentucky Board of Realtors indicated there were 409 closings in March, a 9.36% increase from last year.  That’s the third straight month the number has gone up.

Dayton, Ohio
Dayton-area home sales also increased in  March, climbing 36% from the previous month, according to the Dayton Area Board of Realtors. In total, 932 homes or condominiums were sold locally in March. The figure topped March 2011’s tally by 16%. Sales volume for the month surpassed $107.1 million, 41% better than March 2011. The average sales price of $114,930 was up 21% from the previous year and the median price ($95,000) was 32% higher.

Watch a video from Channel 9 about area real estate March sales trends.