"How's the market?"
It's one of the most common questions any real estate agent will ever hear.
Now the pat answer might be "It's great!". After all, what potential home seller wants to hear "you know, the market is just going down the toilet right now!"? But there are certainly times (and not so long ago) where trying to sell a home was tough. Foreclosures left and right, the builders had stopped building, short sales, market conditions were terrible. You either took a hard hit as a seller or you didn't sell.
But currently, we're light years away from those days. It's (mostly) good to be a seller in our local market.
Did you notice that (mostly)?
It's because there's no universal market. Within each of the communities we serve there are markets within those markets.
Take Mason Ohio for instance.
Affordable housing? An affordable home nicely updated and priced properly for the neighborhood will be swarmed and under contract quickly.
Move up a price bracket and the market condition changes. Not so fast on the sale, but still good demand.
Now kick it up another notch and enter the realm of new construction. You'd better have at least $500k to build new, and the builders are doing quite well. Who's suffering? Resale home owners competing with new construction.
So depending who asks me, the answers are "Great!", "Fairly good!" or "Slow". Every one of those responses is correct to certain portions of the market.
Now apply the same assessment to Mason condos. An attached ranch condo may have an entirely different demand than an apartment style stack or a townhome.
Now mix in patio homes, and we've got the same complexities.
As you can see, there really isn't one "right" answer, but many depending on the home seller's or buyer's particular needs. That's why we're here to provide personal service. No cookie cutter answers, but an answer tailored to the needs of each individual client.
Ready to talk Cincinnati area real estate? Just give us a call at 513-520-5305 or email Liz@LizSpear.com.
We look forward to hearing from you!
Bill & Liz aka BLiz