Have The Little Miami School District Home Values Turned the Corner?
After the last few years melee over the Little Miami School District tax levy, and finally getting the levy passed last fall, the question on many homeowners' minds is "Did it make a difference?". Has putting the tax levy in the rear view mirror and working towards regaining local control of the Little Miami Schools from the state helped yet?
And in real estate terms, from November until the end of March is a relatively short period of time, but with the first quarter of 2012 complete it's worth taking a look to see if there are any signs of recovery.
First of all, here's the Cincinnati MLS information for all residential sales summarized for 2009, 2010, 2011 & we're adding the summation of the 2012 1st quarter (January-March):
Now the sales data for 1st quarter doesn't exactly scream that everything is all better. For the time period, sales volume of 95 home is good. These months are normally down months.
But what we definitely don't like is the mixed message with the average and median sales prices. The average prices continued to trend in the downward position, but at least the median price shows some recovery.
So is there some special cause, or maybe just a bad month in the quarter? Let's break down the quarter into monthly buckets:
Now the data starts to paint a bit better picture. Volume increased each month, but that February average sales prices just hammered the quarter average. There were a fair number of lower priced properties moved that month and dragged the average down. However, the nice item on the quarterly data is the median price rose each month consecutively after January's low.
And better news even yet is that the March 2012 data compares favorably with the 2010 average and median prices. Perhaps the drops in 2011 have been erased? Now it's way too early to go Pollyanna and one month of sales data isn't enough to declare that recovery is here, but if this data holds up through the following few months, it just might be time to smile again if you're a Little Miami School District homeowner!
So stay tuned and we'll keep you updated as we track the recovery. And if you're looking for more detailed analysis on YOUR home, just give us a call. With the multitude of offerings and differences throughout the school district, the news for your particular community may be different than the overall Little Miami School District performance.
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS
William (Bill) Spear, CRS
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