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For Sale: $1,195,000

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Cincinnati Real Estate News You Need

2016 just shy of 2005’s record year in sales

2016 just shy of 2005’s record year in sales

December home sales continued the year’s momentum, up 6.02 % compared to December a year ago. Home sales this month were 1,937 compared to 1,827 in December 2016.  Home sales for the year, 2016, ended up 7.46% over 2015 and just missed 2005’s record year in sales, 26,114 in 2016 vs 26,553 in 2005.

“2016 was a stellar year for home sales in Greater Cincinnati, recording the second highest year ever in unit sales,” said David Welch, President of the Cincinnati Area Board of REALTORS®.  “The market momentum was so strong that we achieved all-time highs in average and median sales prices also,” said Welch.

Home Sales - December 2016 - sent to media 01-24-2017 final_Page_1

The average home price climbed to $190,339 compared to $178,837 a year earlier, a + 6.43 % increase.  At the same time, the inventory of homes for sale, as of December 31, continued its year-over-year declining trend to 5,049 from 6,704 a year ago, down – 24.68 %.

“Nine out of the past twelve months recorded record high average prices of homes.  Our low inventory coupled with low interest rates and consumers ready to purchase made this a very active market that continues to drive the prices higher. Homes that are priced right and that are in move-in ready condition are the properties that are selling quickly,” said Welch.

Local home mortgage rates in December averaged 4.06% for a 30-year fixed rate loan.  The rates down slightly at 3.91% a year ago.  At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $481.

“Consumers should to contact a REALTOR to help guide them through all the important details involved in buying and selling a home. A REALTOR will assist you through the entire process, and is your absolute best source for professional and accurate information,” said Welch.

Call a real estate professional !!  Call The Jason Bowman Team today!  513-766-0647

Nationwide, December home sales were down – 2.8 % from November on a seasonally adjusted basis, but were up slightly + 0.7 % from December 2015.

Don't be the last one to find out about a New Listing!!

It is no secret. Housing inventory is at its lowest levels in years throughout the neighborhoods of Greater Cincinnati and Northern Kentucky. Home Buyers are finding that the good homes go fast… Like, lightning fast…within the first week or day. We have been working throughout the winter to improve our Email Home Search Listing Alert Services in both the Cincinnati MLS and the Northern Kentucky MLS. Sign up today and our system will send you new Realtor listings in your target areas every day. Our Email Home Search System receives direct data feeds from local MLS organizations and sends you all listings from all Greater Cincinnati Real Estate companies. Sign up today! It is free and there is no obligation.

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Winter Home Staging Considerations

When selling your home in the winter, the art of staging the inside becomes more important. Here are five simple tips to make your home shine even when the outside landscaping has faded:
  • Keep your house warm. In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
  • Clear your walkways and driveways of any snow or ice. Make it easy for buyers to get to your home.
  • Clean the windows and blinds. Letting in the natural light can brighten up a room and cheer up the home. This also brings attention to the windows and blinds so make sure they are clean even during winter. Dirty windows will make the home appear neglected.
  • Background music played softly can completely change the atmosphere, which will make the home feel cozy and keep potential buyers around longer. Select classical music to appeal to anyone.
  • Leave the light on. Before showing a home, make sure it's well lit. A well lit home is more inviting. If you're not home, consider setting up timers.

Following these simple tips can give your house that added boost in today's competitive market. For information on selling in our local market, please contact us for a free market analysis of our recent neighborhood activity. We are more than happy to answer any questions you might have!

Contact Information

Jason Bowman, CRS, CDPE, ABR, GRI, E-PRO
RE/MAX Elite
5720 Gateway Blvd., #203
Mason OH 45040
513-766-0647
Cell: 513-646-3368
Fax: 513-766-0647