Maineville/Hamilton Twp Ohio 45039 Single Family Home Market Report September 2012
Welcome to the September edition of the Maineville/Hamilton Township Ohio single family home residential market report. We're covering zip code 45039 only, which also includes homes in parts of Landen and Deerfield Township, although at low levels. That also means any Hamilton Township homes in other zip codes are NOT covered in this report. The majority of 45039 is covered by Little Miami Schools, although portions are in Kings Local. Obviously zip code 45039 is NOT uniform so we're not always comparing apples to apples in this report. This report is informational and for the best advice for you as an area home buyer or seller, please contact us for a specific review of your needs.
All data is derived from the Cincinnati MLS system. If any Maineville/Hamilton Township homes traded hands without a REALTOR® involved, then it won't be reflected in this report. All data is for the 45039 zip code only.
The 45039 zip code offers a diversity of living choices, with a focus on affordable housing. Much of the zip code is easily reached by taking the SR48 exit off of I71. Depending on traffic you can be in the heart of Maineville within 5-10 minutes from exit. Along the way you'll pass a Lowe's, Target, Kohls, Kroger and a collection of strip malls with a selection of dining choices.
With regards to housing choices, there are numerous developments, with the majority focused at the $200k price point with many starter type homes available well below that. If you're preference is more space, the area also offers that option with either luxury home communities or more rural opportunities. Additionally, one of the area's few 55+ communities makes it's home here.
Maineville is home to the annual Berry Festival, a recently established area festival that is quickly gaining popularity.
So, on to the review!
First up is the number of Maineville/Hamilton Township area single family homes sold on a month by month basis for 2010, 2011 and now 2012:
Next is the Maineville/Hamilton Township median price summary chart.
Maineville/Hamilton Township 45039 Single Family Home Category Data Summary:
Homes Sold: 34 (8 Bank/Government Owned, 2 Short Sale) UP 4
Average Price: $174,204 DOWN
Median Price: $142,750 DOWN
Days on Market Average: 95 SAME
Homes Active 10/6/12: 206 DOWN 27
Homes Pending 10/6/12: 75 UP 3
Average Sales/List %: 96.7% UP 1.1%
Most Expensive Home Sold: $543,000
Least Expensive Home Sold: $40,000
So what can we determine from the latest statistics?
The key takeaway is the volume of sales was fantastic for the month of September. The 2nd best month in 2012 and far better than the Septembers of 2010 & 2011. However, the one item to note was that 10 of these 34 sales were distressed properties (8 bank owned, 2 short sales). That is certainly a high percentage of this category and also explains the decrease in median and average prices compared to August. Four sales occurred below $100k and all of those were distressed properties. Looking forward, we expect this to be a short term event. Only two homes are listed for sale at less than $100k as of today. This monthly drop in values would appear more attributable to buyers snatching up some available bargains rather than an overall shift down in market value. Note the 96.7% averages sales to list % to know that there aren't large dollar amounts being given away by the sellers. Homes that sell are accurately priced for the market conditions.
The fact that 29.5% of homes on the market are under contract is also a very positive sign. The drop in homes for sale is typical for this time of year as sellers frequently take their homes off the market during the traditionally less busy months of fall and winter. However, considering the sales volume for September and the 75 homes pending, we'd advise to stay the course as buyers are still out actively looking and buying.
So what does this mean to you as a Maineville/Hamilton Township single family home owner? We still believe that it's finally a good time to sell your home if you've been waiting for a market rebound. Of course this also depends strongly on the type and condition of the home you have to offer. The starter and first bump up category homes are moving well.
PATIENCE for sellers is still the name of the game unless you can aggressively price to jump in front of your competition, and even then you know the buyers will try to go lower. A strong marketing presence is still imperative (and we can provide that for you). If either element is missing, the home will take much longer to sell, or will not sell at all. For an evaluation of your specific home's marketability, please contact us.
So what does this mean to you as a potential Maineville/Hamilton Township home buyer?
Not much has changed from last month if you're a potential buyer. You've picked an area with VERY affordable housing. There's still plenty of inventory to select from. However, one key piece of advice: If you see something you like, don't wait on it assuming there will be a price reduction. If you're thinking about writing an offer on a home, there's a decent possibility that someone else may be thinking the same. Based on List/Sold price ratios, obviously there is some room to negotiate on most homes. When you're considering buying a Maineville/Hamilton Township area home, please contact us with your needs and we'll help you find the right community for you!
Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz
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