Are We At Market Bottom - Part 2
Written by Randy Hibbard on May 14, 2008
There are additional signs that indicate we may be near a market bottom. In my previous post I talked about properly priced homes selling quickly. I have been seeing homes sell very quickly at around 15% less than the list price of similar homes in the area. This appears to be a price resistance level.
If you look at the number of single family homes and condos listed for sale in the Greater Cincinnati MLS in March 2008 and you compare it to March since 2000, a good trend appears - homes for sale went down.
I flipped the chart over. Does this look like a potential bottom?
It looks like a potential bottom to me. Lets hope this trend continues. I will keep you up to date.
Remember
- If you are selling a home - Clean it, repair it, stage it and price it right. Also make sure your home is getting massive exposure on the Internet - most home buyers are starting their search in the Internet. For our listings we even create a web site just for the listing! Check out this example: http://www.1274morten.com/ !
- If you are buying a home - now may be the time to start moving. Deals are out there and rates are great.
Good luck
Source of the map data is the MLS of Greater Cincinnati Monthly & Yearly Updates
