MARCH REPORT - BOONE COUNTY REAL ESTATE
Welcome all Boone County sellers and buyers!  Let's take a look at how 2012 inventory for single family homes is stacking up in Boone County this month.   Today, March 15th, we have 663 homes for sale in Boone County of which a median list price of $87,500 (up approx $2,600 from last month).  The average days on market expectation for these homes before they sell is now at 77 days, so sellers take note.  We also should point out that there are currently 200 Boone County  sales pending right now, with a median sale price of $97,000 and an average days on market of 97.  We are starting into the buying season with good weather, lots of buyers and lots of great deals to consider. We are also seeing an uptick in the number of HUD homes released into the area. .

The true litmus test for predicting marketing analytics is found in Boone County homes that have sold in the last 6 months.  These are the homes that the appraisers are looking for as new comparatives to rank new appraisals in the market.  So if we take a look at the solds for the area, we find that 507 Boone County Homes were sold with a median list price of  $61,400 and a median sale price of  $52,500.   That means there was a whopping 14.5% spread between asking and final sales price...quite some elasticity and something to note if you are buying or selling in this market.  It will be interesting to see how that elasticity will change as we head into the buying season. 

Statistically, Boone County appears to still be ticking up and down in the price market, but not quite as low as 6 months ago. We may have just hit the bottom and the market keeps testing and getting ready to try for a small rebound.  There are still great deals to found at the current prices.   If you are looking for your dream home in Boone County, you might want to search the cities below.  Just note, however, that some homes in Crittenden, Erlanger and Florence are also in parts of  Kenton County and some homes in Verona are also in parts of Gallatin County.   

Burlington       Crittenden       Erlanger      Florence      Hebron    

Petersburg     Richwood        Union          Verona         Walton

All the best in 2012!  Proceed with knowledge and be empowered to make the right decisions in all your real estate transactions. 
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NORTHERN KENTUCKY Real Estate Sales - Cathy Miles Realtor®
CINCINNATI, OHIO Real Estate Sales - Cathy Miles Realtor®  
I specialize in helping buyers and sellers with their real estate needs in Northern KY (Florence, Erlanger, Union, Richwood, Burlington, Hebron, Taylor Mill and surrounding areas) and in Cincinnati, OH (Hyde Park, Oakley, Clifton, Mt. Adams and surrounding areas). With passion, I invite you to board my boat for your next destination and allow me the opportunity to help you navigate the ever changing currents of this incredible market! 

  just ask cathy...513.673.7726
Helping to educate buyers & sellers to make sound real estate decisions.
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KY /OH Realtor®/EXIT/www.mileshometeam.com / I-Fax: 888.398.3974 /cathy@mileshometeam.com