West Clermont Home Sales Update Covering Feb 2017

West Clermont Home Sales Update Covering Feb 2017 | Clermont Homes For Sale | West Clermont

Home Sales In The West Clermont School District |

Union & Batavia Townships

west clermont home salesSupply and demand!  West Clermont home sales have become a bit hotter since January.  The biggest change has been in the number of available homes between January, 2017 and February, 2017.  The number fell from 142 active listings to 113 active listings in February.  What that means is about 20% fewer homes from which buyers to choose.

While good news for home sellers, it isn’t entirely one sided.  Most of the other indicators have soften slightly which balances the picture.  Time on market is 3 days longer, average sale price also fell by about $1000.  (See graph below for details.)

Something to keep a close eye on is what the Fed is doing to interest rates.  On the Ides of March, 3/15/17, the loan rate went up a quarter of a percent.  That does not make a big impact on how much of a home a buyer may purchase, however, indications are that the Fed may make a larger increase later this year.  A buying decision delayed a few month can spell out either having a higher monthly mortgage payment or a buyer having to settle for a less expensive home.  Bottom line, home buyers should act before another rate hike.

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West Clermont 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, 2017142123538$184,311$162,81097.71%2.940
February, 2017113158498$188,124$161,70597.63%3.343
March, 2017118162495$196,279$164,05597.59%3.3943
April, 2017124184484$212,749$165,74697.813.842
May, 2017129173518$220,999$165,58697.87%3.540
June, 2017162162536$221,210$166,16898.23%3.6532
July, 2017169179572$216,736$165,70298.32%3.729
August, 2017134155523$235,922$182,27298.57%3.322
September, 2017130118544$240,338$181,58998.44%2.722
October, 2017
November, 2017141129602$220,907$173,84198.30%2.724
December, 201711995578$219,570$175,0098.08%2.226