Month of November Market Update
Southwest Ohio continues to see stability in home prices, with the average price currently sitting at $290,000. Last month we were at $295,000 This reflects a +2.1% change from last year.
Number of Homes Sold: 1,381
The market has been slowing down compared to last month with 1,381 homes sold in the last 30 days and 1,504 last month. This usually occurs this time of the year with the holidays. This means less homes for buyers and sellers able to take advantage of the low inventory and maximize thier homes value, though they are still great deals for buyers . This is a +12.3% change from last year.
Average Days on Market: 12 Days
Homes are moving slower than last month. The average time on the market is 12 days, with last month being 9 days. This is up +20% from last year. We are seeing more activity this year during the cold holiday season then we have last year!
Interest Rates: 6.85%
Mortgage rates are currently hovering around 6.85%. Interest rates gone downfrom last month with them being around 7% last month. Still a great time to buy before more buyers enter in the market when interest rates come down, when that happens prices will rise because there will be more demand.
REVIEWS
Ashley Collins
Nicolas Guzman
Sasha Zavacky
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