What's My Maineville/Hamilton Township Home Worth? November 2014 Update

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

What's My Maineville/Hamilton Township Home Worth?  November 2014 Update

5891 Eagle Creek Maineville/Hamilton Township OH 45039No doubt Jack Frost is making his presence known more and more.  The occasional snow, needing an ice scraper for the windshield in the morning, and should we add a slow down of the real estate market as another typical sign of Winter's approach? 

Stay with us for the full report!  And  as a bonus we're including Search for Maineville/Hamilton Township Homes For Sale links at the end for your home search convenience.

This report is for single family homes only and NOT condos.  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, Western Row or Kings Mills exits off of I71.  Depending on traffic you can be in the heart of Maineville within 5-10 minutes from the SR48 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 your 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 its home here.

Turning Leaf community  Hamilton Township Ohio 45039

Turning Leaf, a sample Hamilton Township community

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 starting in 2010:
Maineville/Hamilton Township Ohio Residential Home Market Report
Next is the Maineville/Hamilton Township median price summary chart.
Maineville/Hamilton Township Single Family Home Market Report

 

Maineville/Hamilton Township 45039 Single Family Home Category Data Summary:

Homes Sold:  24 (1 Bank/Government Owned, 1 Short Sale) DOWN 17

Average Price:  $242,818 or 212,071 UP $27k or DOWN $3k*Another Maineville/Hamilton Township home we sold

Median Price:  $193,250 UP $3k

Days on Market Average:  109 UP 25

Homes Active 12/7/14:  141 DOWN 17

Homes Pending 12/7/14: 48 DOWN 3

Average Sales/List %:  92.7% DOWN .6%*

Most Expensive Home Sold:  $431,000

Least Expensive Home Sold:  $125,000

 

So what can we determine from the latest statistics? 

There are a few takeaways and cautions:

  • *ONE HOUSE.  ONE SALE.  That's sometimes all that is needed to skew the results, and sometimes VERY heavily.  That's what we have this month as one sale in River's Bend had a significant impact on the stats.  For an engineer, it's what's considered an outlier.  Sold for $550,000 more than the next closest home.  $235,000 difference between asking and final sales price of $950,000.  That result moved the difference between asking and list price by a few percentage points for the overall monthly stats, and also that sale is the difference in essentially a flat month for sale $$$ or a big bump up.
  • Okay, back to the rest of the story!!!!  Overall, we're back to a typical cold weather sales month.  Fewer homes on the market for sale.  Fewer homes under contract.  Fewer homes SOLD this month vs. the previous month, but fairly consistent for past Novembers. 
  • Pricing continues to be in a fairly tight band.  One home sold below $100k, and only 5 above $300k, and that 5 included the one home at $950,000 
  • Days On Market is increased, but that's to be expected for this time of year.
  • Homes under contract is still strong with 48 under contract. 
  • Distressed (foreclosures and short sales) continue to have minimal impact at this point.  Only 2 of the 24 Sold and 9 of the 141 not under contract.   We like to see minimal foreclosures and short sales on the market, a scarcity is a solid indicator that home values cover borrowing costs.

So what does this mean to you as a Maineville/Hamilton Township single family home owner?   A slight change to past advice, as we enter the cold months it's obvious that homes don't have quite the same curb appeal.  Flowers have hibernated, most of the leaves are off the trees and the lawn isn't quite that plush green any longer.  Homes WILL still sell, but it takes longer.  Fewer buyers out looking, but safe to say anyone out looking in freezing temps isn't exactly a tire kicker.  

It's still critical to price right, prep your home and hire an experienced real estate team .  We don't see a lot of truly negative in this month's report to discourage offering your home for sale if it makes sense for you!  However, keep in mind the new construction competition.

For an evaluation of your specific home's marketability, please contact us at 513-520-5305.  

 

So what does this mean to you as a potential Maineville/Hamilton Township home buyer? 

Not much reason to change our advice here either.  You have LESS to choose from this time of year, but you should be able to assume that anyone with their home on the market this time of the year is serious about getting their home sold and not a "I don't have to move" type seller.  Still, if you find a home that suits you, don't delay acting or you may miss out on your opportunity.  There are other buyers out there and area housing is still VERY affordable and overall the homes tend to be newer and in subdivisions. 

Additionally, new construction is available and having an influence, and PLEASE, for new construction, have us help you!  The builder will NOT cut you a price break for showing up unrepresented, and using our services will NOT cost you extra. 

When you're considering buying a Maineville/Hamilton Township area home, please contact us at 513-520-5305 with your needs and we'll help you find the right community! 

To Search Maineville/Hamilton Township 45039 homes for sale, please use the links below.

Search Maineville/Hamilton Township 45039 Homes For Sale Under $200,000

Search Maineville/Hamilton Township 45039 Homes For Sale $200,000 to $400,000

Search Maineville/Hamilton Township 45039 Homes for Sale $400,000 and Up

Serving Warren County's home buyers and sellers,
Liz and Bill aka BLiz

Recent Market Reports:

October 2014 Maineville/Hamilton Township Real Estate Report

September 2014 Maineville/Hamilton Township Real Estate Market Report

August 2014 Maineville/Hamilton Township Real Estate Market Report

July 2014 Maineville/Hamilton Township Real Estate Market Report

June 2014 Maineville/Hamilton Township Real Estate Market Report

May 2014 Maineville/Hamilton Township Real Estate Market Report

April 2014 Maineville/Hamilton Township Real Estate Market Report

March 2014 Maineville/Hamilton Township Real Estate Market Report

February 2014 Maineville/Hamilton Township Real Estate Market Report

January 2014 Maineville/Hamilton Township Real Estate Market Report

December 2013 Maineville/Hamilton Township Real Estate Market Report

November 2013 Maineville/Hamilton Township Real Estate Market Report

October 2013 Maineville/Hamilton Township Real Estate Market Report

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Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

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Rainmaker
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: As expected, another thorough review of one of the real estate markets you service. Well done as always.

Dec 07, 2014 06:16 AM #1
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, Thanks!  We consider our market reports an integral part of the service we provide area home buyers and sellers.

Dec 07, 2014 10:44 AM #2
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

B'Liz, you do a really good job of helping people understand the story behind the numbers.  One big sale can really skew the numbers in an area.

Dec 07, 2014 11:44 AM #3
Rainmaker
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Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Liz and Bill Spear ~ knowing the truth about home values is priceless and it's a good idea to find out from professionals like you verse looking at AVM's....

Dec 07, 2014 01:00 PM #4
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Pat, It was the right combination for one sale to skew the data, lower sales and a sale at over 4x the median price.  When the difference between asking and sales price exceeds the median price for the market, you know you're talking big money!

Jon, AVMs are good "for fun", but when it's time to get serious it's time to get a real estate professional crunching the numbers.

Dec 07, 2014 09:40 PM #5
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