Real estate markets ebb and flow. Sometimes LOTS of homes are for sale, sometimes hardly any.
The advantage may be to the seller, or to the buyer depending on home supply.
And within our market, there can be segments that are in the seller's favor, and others in the buyer's favor.
One of the reasons we keep track of our local real estate markets is so we can identify WHICH segment is which.
It doesn't go well if you think the advantage is to the seller and it's actually a buyer's market, or vice versa.
Right now there are some obvious gaps in home supply in our local markets.
Throughout Greater Cincinnati, patio homes priced under $250,000 are almost non-existent. Slide up to $300,000 and there's a LITTLE more selection, but still not much.
You want a Mason condo? Yeah, about that. For the better part of the last couple of years, it's rare that there are a DOZEN Mason condos not under contract, and more often than not we're talking single digits. Factor in that is across ALL price points and it's pretty apparent that if you want a ranch condo with no steps priced under $200,000 we're going to have to be on our toes and get after it day 1 on the market.
You want a Lebanon home priced under $200,000? Just a few days ago there was ONE not under contract.
Mason homes priced under $300,000? Well there's not many of them either.
On the other hand, there are other segments of the market with ample supply.
Want new construction anywhere in the burbs? It's out there if you have the budget to fit the area.
Luxury homes in Mason? There are plenty of them too (after all, only so many people can spend that kind of money on a home).
Bottom line, you need to talk with an agent that understands the particular segment of the market YOUR home (or home to be) fits into. Is the advantage FOR or AGAINST you?
Want to discuss further? Just give Bill a call at 513-520-5305 or email Liz@LizSpear.com.
Serving Greater Cincinnati home buyers and sellers,
Bill & Liz aka Bliz