just ask cathy...
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GOOD EVENING NORTHERN KY BUYERS!  Whether you are looking for  properties in Florence, Burlington, Hebron, Independence, Verona or just surfing the web for great foreclosures, there are a lot of great deals in this incredible NKY market with great interest rates and low down payments!  As you head out this weekend to scout out the available homes, consider HUD's $100 down program or even the USDA loans for rural  properties that are no money down.  FHA offers 3.5% down, as opposed to the convential loan of 20% down.  And with interest rates as low as they are today, it's no wonder you hear people say that monthly payments are often lower than rent payments because they are!   

So with all of that great news, let's take a look at where our local market stands today.  NKY has experienced a slightly more stable market than several other markets nationally, but there are still subtle market fluctuations among our communities.  Take a look at the info below to help you get a feel for what's been going on in the last 6 months for Single Family Homes in some of our local markets...

 

City #Sold Median List Median Sale Days on Market
Hebron 101 $189,500 $180,000 64
Florence 213 69,950 65,100 84
Burlington 110 154,900 150,000 58
Independence 185 145,000 142,000 77
Ft. Thomas 81 174,150 163,425 48

If you do the math, you'll find the price spreads between asking and final sale price are more elastic in some markets than others.  Florence, for example, has exhibited a 7% spread in the asking price to final sale price in the last 6 months, while Independence and Burlington properties remain tight with a 2% and 3% spread respectively.   Of course, everyone has their own area preference, so you'll be shopping in those particular markets, but it's always good to know which markets allow for more spread in final price so that you go in with an offer that is acceptable for that market. 

 If you are a seller, look at the average days on market and be prepared accordingly.  It makes sense that the longer your home sits on the market, the wider the spread between asking and the final sales price will be.  (That's why the Florence market, with it's longer days on market, has the most spread in the example above.) 

Take care as you head out on this Holiday Weekend and happy house hunting in NKY!____________________________________________________________
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