2012 Midyear Update for Little Miami School District Home Values
Has there been continued progress since our last Little Miami School District Home Value Report in April? We've been anxious to examine whether the Little Miami area homes continued to trend upwards in value since the passage of last year's school tax levy after repeated denials.
With an additional three months of data and moving into the prime busy time of the real estate year, we should be able to have a more conclusive review.
First of all, here's the Cincinnati MLS information for all Little Miami School District residential sales summarized for 2009, 2010, 2011 & we're adding the summation of the 2012 1st and 2nd quarters:
The 1st quarter data didn't show the overall improvement we'd expected. While Median Price was moving up, the Average wasn't when compared to 2011. However, the 2012 2nd quarter provides a much clearer indication that recovery is well underway. Values for 2012 2nd quarter either exceed or match well with 2010 values, and Average even matches with 2009.
This response aligns with what we're seeing with our Little Miami School District homes for sale. For instance, our two Michel's Farm listings have been getting plenty of activity and one even went under contract in 17 days!
However, before we go totally overboard with how great the numbers are, let's take a look at the monthly numbers individually:
April and May were VERY strong, the June Average is a bit down however. The good news is the last four months Median prices are in such a tight band that you could consider them stable.
Overall, if you've been waiting to sell your Little Miami area home, NOW might finally be the time to seriously consider making that move. And as a buyer for the area, the pendulum is swinging back towards the seller's side, so that low ball offer may not get the job done.
Obviously, Little Miami is a broad area with much variation, so for a specific review of YOUR particular home, please give us a call for a no hassle, no pressure consultation. Good or bad news, you'll get the straight scoop from us.
So stay tuned and we'll keep you updated as we track the recovery.
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
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