If you have been keeping up with the Lewis Center real estate market, you know 2016 has been a great year so far. While we expect to see the normal seasonal slow down and lower prices of fall and winter, Lewis Center remains a Seller’s Market. Continue reading for more details.
September 2016 is a Seller’s market*
Homes For Sale in September 2016: 99 units.
- Up 2.1% compared to the last month
- Down 9.2% compared to the last year
Home Closed in September 2016: 56 units.
- Down 22.2% compared to the last month
- Up 16.7% compared to the last year
Home Placed under Contract in September 2016: 51 units.
- Down 17.7% compared to the last month
- Down 7.3% compared to the last year
*Buyer’s market: more than 6 months of inventory based on closed sales.
Seller’s market: less than 3 months of inventory based on closed sales.
Neutral market: 3 – 6 months of inventory based on closed sales
September 2016 Average Sold Price per Square Footage is Depreciating*
Average Sold Price per Square Footage in Sept 2016: $116
- 0% change compared to the last month
- Up 7.4% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
September 2016 Average Days on Market trend Remains Steady*
Average Days on Market in September 2016: 39
- Down 2.5% compared to the last month
- Up 8.3% compared to the last year
September 2016 Sold/Original List Price Ratio is Falling*
Sold/Original List Price % in September 2016: 97%
- Down 2% compared to the last month
- Up 2.1% compared to the last year
*Based on 6 month trend – Rising/Falling/Remains Steady
September 2016 Median Sold Price is Appreciating*
Average Median Sold Price in September 2016: $294
- Up 2.1% compared to the last month
- Down 1.7% compared to the last year
September 2016 Average For Sale Price is Neutral*
Average For Sale Price (in thousand) in September 2016: $367
- Up 1.1% compared to the last month
- Up 8.3% compared to the last year
September 2016 Average Sold Price is Appreciating*
Average Sold Price (in thousand) in September 2016: $305
- Up 0.3% compared to the last month
- Up 6.6% compared to the last year
*Based on 6 month trend – Appreciating/Depreciating/Neutral
September 2016 Months Of Inventory Shows Seller’s Market*
Months of Inventory based on Closed Sales in Sept. 2016: 1.8
- Up 37.1% compared to the last month
- Down 22% compared to the last year
*Seller’s market: less than 3 months of inventory based on closed sales
September 2016 Median Sold Price is Appreciating*
Lewis Center Real Estate Report Summary
So, what’s all this mean? While Lewis Center remains in a Seller’s Market, now is actually a great time to buy. The market has slowed down for the season, lending experts recommend locking in current rates, and, historically, fall/winter offers lower home prices than the spring/summer. Take a moment to explore Lewis Center OH homes for sale.
Have Questions? Ask Me!
If you have a question about this report, I can help. Contact me at (614) 547-3229. I love to talk about real estate!
Whether you’re thinking about buying or selling a Lewis Center home, it’s a good idea to stay on top of local real estate market conditions.
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