WELCOME FLORENCE Y'ALL BUYERS AND SELLERS! Let's take a look at how 2012 inventory is stacking up for the Florence area as we start into the 1st week of March, which by the way, sure came in with a bang, didn't it? Tornado and all!
Today, March 3rd, we have 212 homes listed for sale in Florence, with a median list price of $100,000. The median 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 65 Florence home sales pending right now, with a median sale price of $122,350 and a median days on market of 112. It appears statisticaly that while homes had an uptick in price for the pendings along with longer days on market, the Spring buying season is approaching with more homes expected to come on market and shorter sale days expected as buyers start their serious searches.
The true litmus test for predicting marketing analytics is found in Florence 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 169 Florence Homes were sold with a median list price of $76,363 and a median sale price of $69,476. That means there was a 10% spread between asking and final sales price...something to note if you are buying or selling in this market. The interesting detail to note is that in Dec 2012 the spread was 15%, so the market is not so stretchy, but note there still is wiggle room when negotiating your deal!
Statistically, Florence appears to be ticking up slightly in the price market, but it is also reflective of more homes coming on market. There are great deals to found at the current prices and with low mortgage rates, this could be the perfect season to buy your new home!
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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, 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.
KY /OH Realtor®/EXIT/www.mileshometeam.com / I-Fax: 888.398.3974 /firstname.lastname@example.org