Month of August Market Report
Southwest Ohio continues to see stability in home prices, with the average price currently sitting at $300,000. This reflects a +2.3% change from last year.
Number of Homes Sold: 1,501
The market has been hotter compared to last month, with 1,501 homes sold in the last 30 days and only 1,239 last month. 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 +14.0% change from last year.
Average Days on Market: 8 Days
Homes are moving quickly still and doesn't seem to be affected at all with last month being 7 days. The average time on the market is 8 days, This is up +60% from last year.
Interest Rates: 6.53%
Mortgage rates are currently hovering around 6.53%. Interest rates gone up from last month with them being around 6.3% 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,
Market Trends
Market Trends are calculated using MLS® sold listing data
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Nicolas Guzman
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