Welcome all Kenton County sellers and buyers! Let's take quick look at how 2012 inventory
for single family homes is stacking up in Kenton County .
Today, July 10th, we have a whopping 964 homes for sale in Kenton County with a median
list price of $23,700! Seems that the foreclosures in the area only account for 9% of that
number!!! The average days on market expectation for these homes before they sell is now
at 83 days, so sellers take note.
We also should point out that there are currently 68 Kenton County sales pending right now (way down from last month), with a median sale price of $60,950 (way up from last month) and an average days on market of 68.
If you are thinking of buying in Kenton County, get out there and take a look at some of these deals! Couple that with the possibility of your home approved for USDA coverage (no money down areas) and the special HUD $100 down program and you may just come up with one of the sweetest deals yet!
The true litmus test for predicting marketing analytics is found in Kenton 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 another whopping amount of 211 Kenton County Homes were sold in the last 6 months (515 LESS than last month's calculation) with a median list price of $17,700 and a median sale price of $15,000. That means there was a 5% spread between asking and final sales price...quite a change from last month where we were seeing a 20% spread! The elasticity between asking and final sales prices is definately shrinking as we head into the July/Aug season, so buyers and sellers take note! That figure truly reflects what I am seeing in the field on a day to day basis. Buyers take note that if you really want that home, you need to get your bid amount closer to asking. There is also a lot of overbidding going on in the market, so watch out if that property price looks too good to be true...you just may be in competition with other bidders who are placing bids on that property that are OVER the asking price!
One thing is sure, we have a lot of inventory in Kenton County (964 homes!) and that means it is still, unquestionably, a buyer's incredible market!
If you are looking for your dream home in Kenton, you might want to search the cities below. Just note, however, that some homes in Crittenden, Erlanger, Florence and Demossville are also in parts of Pendleton, Grant and Boone Counties.
All the best in 2012! 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 and in Cincinnati, OH. 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 /firstname.lastname@example.org