New Richmond Home Sales – Covering August 2017

New Richmond Home Sales | August 2017 | New Richmond School District

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New Richmond Home Sales Update

New Richmond Home Sales for the month of August has some encouraging trends.  The first is the average sale price.  It has increased approximately $12,000 since July.  In part that is due to the sales of high end homes, but when the tide rises, all boats float.  If the sales of higher priced homes has gone up, likely the price for lower priced homes have also risen.  The other side of the coin is that is a rather large increase for one month.  If it is the start of trend, it could signal a potential bubble that could quickly deflate.  We’ll keep an eye on that for next month’s report.

A very good indicator is the days it takes on average for a  home to sell.  It has fallen to the lowest point of this calendar year of 45 days.  Even with the increase on the sale price, it doesn’t appear to be slowing down the market.  In fact, the total number of sales is also at its highest point of the calendar year at 100 homes sold.

Two competing numbers from last month that seem to work against each other are the absorption rate and the sale to list price ratio.  The absorption rate that measures if it is a buyer or seller market sits at 6.0.  That has started leaning toward more of a buyer’s market.  However, offsetting that is the 97.16% sellers are seeing of their list price.  Those numbers have varied much since last month, however they will bear continued monitoring.

If you are thinking of selling, now would be a good time.  The concerns on the horizon are how much the interest rate will be raised and the absorption rate.  As we leave the busier time of the year for real estate, more homes become available due to a diminishing pool of buyers.  An interest rate increase directly impacts how much home a buyer can afford.  While there isn’t anything on the horizon that would be a cause of great concern, the two items mentioned above would like increase time on market as well as seeing as high of a price for homes.

To see how the other school districts are doing in Clermont County, Click Here.

If you’ve had trouble selling your home, let us know.  We specialize in selling homes other agents have had trouble with!  Call or text us at 513-201-7890 or Click Here.

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New Richmond School District Market Update (Each month is the previous 6 months totals & averages)

 Active ListingsPending ListingsSold ListingsAvg Active PriceAvg Sold Price% of List
To Sale Price
Absorption Rate
> 6 = Buyer's Market
< 5 = Seller's Market
Avg Days
On Market
January, 2017
February, 2017592784$340,509$209,65996.27%6.265
March, 2017762186$306,173$223,51596.356.7863
April, 2017712680$310,809$229,39396.75%7.354
May, 2017692891$349,450$234,15696.8%6.3853
June, 2017623196$344,182$221,72997.17%5.8149
July, 2017713194$326,465$237,71297.25%6.550
August, 20176931100$352,866$250,18097.16%6.045
September, 20176823107$320,539$258,54196.73%5.150
October, 2017
November, 20176216102$314,099$246,93296.15%4.650
December, 2017501694$318,926$241,49495.56%4.251


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New Richmond Home Sales
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