New Richmond Home Sales Update Covering May 2017

New Richmond Home Sales Update | May 2017 | New Richmond School District

New Richmond Homes For Sale

New Richmond Home Sales UpdateThe momentum of home sales continues to be great for New Richmond Homes for sale.  91 closings for the last 6 months is the best it has been since the start of the year.  

 Homes vary in sale price depending on the number of bedrooms.  Homes with 4 or more bedrooms are significantly more than 3 bedroom homes, starting an average of $312,706.  For the most part, the larger homes are in communities like Legendary Run.  Other areas like Monroe Township and through out the area have an average sale price for 3 bedroom homes being $196,000.

Of the largest concern is the absorption rate which determines if it is a sellers or buyer’s market.  It has dropped slightly to 6.38 from April’s 7.3 which is a moderate buyer’s market.  We will continue to watch both the sale price to asking price ratio as well as the days on market.  Right now both of those are strong, however, if they start falling, it could be the signal for home sellers to become more aggressive on their pricing and marketing strategies.

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.

Looking for a home?  Would you like to create your own specialized search?  Click Here!

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