This morning Cincinnati MLS lists 1366 homes for sale in Warren County.
There are another 355 Warren County homes under contract.
2300 Warren County homes were recorded as SOLD in Cincinnati MLS for 2011.
And yet, there don't appear to be enough homes for sale in Warren County! Now you might find this strange, there's over 7 months of inventory currently Active and almost two months of inventory under contract, so isn't that PLENTY of homes for sale? It would seem like it, wouldn't it?
However, those 1366 homes aren't satisfying buyer needs for a variety of reasons.
Location: There are some places that just aren't in demand. Subdivision vs. rural. School district. City or township. Homes in some locations are not in as much demand. It's basic supply and demand economics, more supply than demand so those homes will take longer to find a buyer.
Price: Finding the right price that resonates with the buyers is key. One of our listings recently had a 5% price reduction. Now before that, we had steady showings, but we definitely were in the slower season. Since the price change, approximately 10 showings in the last week. We're still waiting on that offer to come, but more buyers are walking through the door.
Type, age & features of a home: Condo vs single family home. Ranch vs. two story vs bi-level vs. quad vs.tri. Each type appeals to different buyers. Some people ONLY want new construction. Others MUST have a basement. It doesn't take much to eliminate a home from a buyer's consideration.
Marketing: If the buyers can't find the home, they can't buy the home. This can be due to mapping errors, MLS data entry errors (left off the garage? Trouble!), or a host of other factors. Terrible advertising photos....don't get us started on that one!
Condition: You could argue that this can be corrected by price, and it can be, ASSUMING you can get buyers to look past the condition items long enough to see the value in the home. Some things are just deal breakers though: Mold, strong animal smells, etc. And sometimes it's paint color and wallpaper. Like we said, it doesn't take much to derail today's buyers.
So what does all this mean to you as potential Warren County home seller?
If you're one of the 1366, it might be time to take a hard look at what might be holding you back. Are there factors above you can change to make you more appealing to buyers? It doesn't necessarily have to be price holding you back.
And if you're just thinking about selling your Warren County home, do you live in a desirable location, have a home with features and style that is in demand, have move-in condition and can afford the right price? Combine those factors with our marketing and we like your chances of NOT being one of the 1366, but one of the SOLD statistics.
So if you'd like more information or an in person meeting, just let us know and we'll be happy to help!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS
William (Bill) Spear, CRS
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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