What's the Real Estate Market Like For Waynesville Ohio?
You've heard nothing but grim real estate news news if you watch the TV and read the major magazines, but since they're primarily national in focus, you don't get to hear what's happening in YOUR market, and THAT is what you really want, isn't it? So we're going to cover what's happening in the Wayne School District in this report, and if after we're done you have questions, please don't hesitate to contact us!
In a way, Waynesville and the Wayne School District is a tale of two cities. Okay, maybe not cities, but there's a lot of variety! You've got some older historic homes, some new developments, and a fair number of estate homes out in the rural parts. Big, custom built homes with acres of land. The Waynesville area offers a home for pretty much every price point.
Mix in a convenient location perfect for people commuting into the Dayton metro area, you're just minutes away from a host of entertainment, shopping, hospitals and much more. Perhaps a little far of a commute for most people working in Cincinnati, but not undoable. And with Caesars Creek State Park and the Little Miami River and Trail easily accessible, and Hisey Park too, recreational activities abound. Further, Wayne School District continues to shine on the state report cards!
Due to it's location between Dayton and Cincinnati, homes for sale may be in either one or both MLS. Not all agents in the area are members of BOTH boards, so not listing a home for sale in both may make the home invisible to some potential buyers.
The following data is pulled from each respective MLS. Most homes listed in Cincinnati MLS are also listed in Dayton MLS, but the overlap is not complete.
Comparing the two tables you'll see the Cincinnati MLS data consistently underperforms the Dayton MLS entries in all fields except Average Days on Market. Cincinnati MLS entries have a lower average price (perhaps more foreclosures which typically have lower prices and sell faster if in reasonable condition).
Overall, the Dayton MLS with the larger numbers of Homes Sold each year provides a more accurate overall picture. After 2005, prices trended downward until 2010 then returned to lower values so far 2011 Year To Date. However, comparing the 2011 numbers to 2009 would show some slight increase.
So what does this mean if you're a potential Waynesville area home buyer or seller?
As a buyer, prices are still depressed from the 2005-2007 time frame. There was an approximate 10% drop after 2008 and prices have not returned to those levels. Overall, the 2008, 2009 and 2011 prices are essentially equivalent and stable. There's no indication of further decline, and combined with current interest rates, buying in the near future would seem to not have a high risk of prices decline after purchase. Obviously, this is dependent upon the individual home and circumstance. Hire a knowledgeable REALTOR(R) to provide guidance for the process.
As a seller, prices appear stable. While you won't recoup previous values of the peak years, you may at least sell without high risk of further depreciation. Depending on the year you purchased and changes to the home and condition, there may be a risk of selling for less than your purchase price. Please consult a knowledgeable REALTOR(R) for an assessment of your home if you're considering selling your Waynesville home.
We hope the information we provided is helpful to you. If you have specific questions or are in need of a REALTOR(R) to assist you with buying or selling a Waynesville home, please contact The Liz Spear Team of RE/MAX Elite. We'll be happy to discuss with you our services and how we can best assist you.
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
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