Pdf, snapshot and charts, june 2013

Housing Supply: 4.6 Months (June 2013) 6.3 Months (June 2012)

Buyer’s or Seller’s Market?

Housing supply tips it to a Seller’s market, could be different in your neck of the woods!

47% of homes sold were on the market for less than a month.

20% were on the

Lender-Involved Sales

market 4 months or longer.

21% Source of Funds Used to Purchase

Bank-Owned (REO), Short Sales, PreForeclosure

Sales Up 22% Over June 2012

52% Conventional 25% Cash 16% FHA 4% Other 3% VA

Average Sales Price $189,260 8% over June 2012

Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of June 30, 2013 Source: Multiple Listing Service of Greater Cincinnati, Inc. Copyright© Karen Schlosser July 2013

Residential (Single Family & Condo) Unit Sales 2009-2013 YTD Source: Multiple Listing Service of Greater Cincinnati, Inc. NOTE: There was a tax credit from April 9, 2008*- April 30, 2010 *This tax credit was instituted in November 2008 and retroactive 2500 2300 2100 1900 1700 1500 1300 1100 900 700 500 Jan

Feb

Mar

Apr

2013

May 2012

Jun

Jul

2011

Aug 2010

Sep

Oct

Nov

Dec

2009

Active Residential Inventory (Single Family & Condominium) January - December 2005-2013YTD Source: Multiple Listing Service of Greater Cincinnati, Inc. 19,000 18,000 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 JAN 2013

FEB 2012

MAR 2011

APR

MAY 2010

JUN 2009

JUL

AUG 2008

Unit Sales Up 22% From June 2012!

We’ve experienced yet another month of increased sales. I wonder what July will bring? 2010 is no match for 2013 which proves that a tax credit isn’t necessary to drive sales when all the other economic conditions are working. Left to its own accord, real estate ebbs and flows as the market dictates…consumers are the market!

SEP 2007

OCT

NOV

2006

DEC 2005

Continued lower inventory helps sellers, challenges buyers!

We haven’t seen these numbers since 2004! New inventory is not outpacing sales with 47% of homes selling in less than a month which is up 2 points from May 2013.

Sellers are saying, “Hello, Market, you’re my new best friend;” while buyers are saying, “What just happened here?”

Copyright© Karen Schlosser July 2013

2009-2013 YTD Number of Months of Housing Supply Source: Multiple Listing Service of Greater Cincinnati, Inc. 15 14 13 12 11 10 9 8

7.3

7

7

5.5

6

5.3

5

A "balanced" market is considered between 5-6 months of inventory.

4

4.6

4.6

MAY

JUN

3

JAN

FEB

MAR

APR

2013

2012

JUL

AUG

2011

SEP

2010

OCT

NOV

DEC

2009

Residential Average Sales Price Single Family & Condominiums 2012-2013 YTD SOURCE: All Market Areas in Multiple Listing Service of Greater Cincinnati, Inc. $189,260 $190,000 $175,710

$180,000 $170,000 $156,790

$160,000 $150,000

$156,957

$143,324 $139,213

$140,000 $130,000 $120,000 JAN

FEB

MAR

APR

MAY 2013

JUN

JUL

AUG

SEP

OCT

NOV

DEC

Steadfast Housing Supply!

A reflection of June 2005 and better than I thought. I was concerned that inventory would slip below 4 months, which, forgive me sellers, would have caused the market to go “crazy” with even a faster pace of sales.

Extreme market conditions may be enjoyed by “the coasts”, but in Cincinnati we like more of the steady as you go, it has more long term potential.

Heading Off The Chart The average sales price for June passed up May’s by 7% and about the same percentage increase over June 2012!

This is good news; however, don’t start calculating a 7% appreciation rate for your home. What this really means is that more expensive homes were sold in June 2013 than last month or last year.

2012 Copyright© Karen Schlosser July 2013

Residential Sales (Single Family) June 2013

Residential Sales (Condominium) June 2013

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Selling Price Range $19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $350,000 thru $399,999 $400,000 thru $449,999 $450,000 thru $499,999 $500,000 thru $549,999 $550,000 thru $599,999 $600,000 thru $649,999 $650,000 thru $699,999 $700,000 thru $749,999 $750,000 thru $799,999 $800,000 thru $849,999 $850,000 thru $899,999 $900,000 thru $949,999 $950,000 thru $999,999 $1,000,000 thru $1,249,999 $1,250,000 thru $1,499,999 $1,500,000 thru $1,749,999 $1,750,000 thru $1,999,999 $2,000,000 thru $2,249,999 $2,250,000 thru $2,499,999

Minimum Maximum Average Median

# of Homes Sold 65 60 76 76 56 55 62 80 65 162 185 169 157 110 219 141 103 69 38 33 21 18 4 21 7 4 4 5 2 2 7 6 1 1 1 1 2086

Selling Price Range $19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $350,000 thru $399,999 $400,000 thru $449,999 $450,000 thru $499,999 $500,000 thru $549,999 $600,000 thru $649,999 $700,000 thru $749,999

Minimum Maximum Average Median

# of Homes Sold 1 8 7 10 11 14 17 16 17 28 21 15 10 15 20 10 4 4 1 2 3 1 1 236 $19,000 $700,000 $141,042 $114,810

$3,900 $2,475,000 $194,715 $152,500 CopyrightŠ Karen Schlosser July 2013