just ask cathy...
WELCOME Y'ALL! THIS IS FOR MY FLORENCE, KY BUYERS AND SELLERS! Let's take a look at how this August 2012 inventory is stacking up for the Florence area as we continue to experience this cloudy, but beautifully cooler weather!
Today, 8.14.2012, we have a whopping 319 single family -homes for sale in Florence (wow..that's up almost 100 homes from July's count!) with a median list price of $69,900 (wow..l.that's down about $100,000 from the July pricing!). The average "days on market" expectation for these homes before they sell is at 108 days, so sellers take note. (We are definately starting to get longer days on market as the reality of another school year sets in. ) We also should point out that there are currently a whopping 110 Florence sales PENDING right now, with a median sale price of $83,150 and an average days on market of 112. .
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 295 Florence single family homes were sold in the last 6 months with a median list price of $56,375 and a median sale price of $50,449. (Definately a decrease from our July statistics that had a median list price of $81,950 and a median sale price of $78,000!) That means there was a 10.6% spread between asking and final sales price! (What a change from our July stats of a 4.3%! spread! ) Buyers and sellers take note! The elasticity between asking and final sales price is definately in s-t-r-e-t-c-h mode as we head into the second half of August.
However, as a full time Realtor® out there every day placing bids for my buyers, I have noticed that there are many properties that 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 a lot 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.
Did you know that Florence is the second largest city in Northern KY? It's also one of the fastest growing cities in NKY! Florence actually extends into 2 counties - Boone and Kenton, so take note if you are wanting to place children in certain schools. If you are looking in the Florence area, be sure to check out these search categories to find your next dream home...
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 & 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 Realty / www.mileshometeam.com / 513.673.7726 / email@example.com