just ask cathy...
Helping to educate buyers & sellers to make sound real estate decisions.

Let's take a look at how 2012 July inventory is stacking up for the Florence area as we start into this first unbelievably HOT day of July 1, 2012! 

Today we have a whopping 215 single family homes for sale in Florence with a median list price of $165,900. The average "days on market" expectation for these homes before they sell is at 72 days, so sellers take note.  We also should point out that there are currently 81 Florence sales PENDING right now, with a median sale price of $105,700 and an average days on market of 99.  Looks like the median sales price has gone up quite a lot from last month as we compare the median list price today to the pendings from yesterday. This is usually due to consumers putting their homes up on market now that the rush is on to sell and buy a new home before school starts next fall. 

The true litmus test for predicting marketing analytics is found in Florence single family 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 201 Florence single family homes were sold in the last 6 months with a median list price of  $81,950 and a median sale price of  $78,000.  That means there was a 4.3% spread between asking and final sales price...something to note if you are buying or selling in this market!  The elasticity between asking and final sales price is definately shrinking as we head into July.  As a full time Realtor® out there every day placing bids for my buyers, I have noticed that today buyers need to bid at or over the asking price in order to get the property under contract.  So I caution you that even though you think sellers will  take less for their properties, please note that there are plenty of situations where properties are going for OVER their asking price, especially on HUD or Bank owned properties that are priced competitively.  Buyers will need to stay tuned to the foreclosure market to know how to proceed on their bid, so be sure to talk with your Realtor® before placing your bid on these types of properties. 

If you are looking in the Florence area, be sure to check out these categories... 

$0-$75,000     $75,000 - $150,000     $150,000 - $200,000   $200,000 - $250,000

Proceed with knowledge and be empowered to make the right decisions in all your real estate transactions! 
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, Union, Burlington, Hebron, Independence 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.
KY /OH Realtor®/EXIT/www.mileshometeam.com / I-Fax: 888.398.3974 /cathy@mileshometeam.com