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Knox County Ohio Real Estate Information Archive

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Knox County Ohio Real Estate Absorption Rate Report by Sam Miller

by Sam Miller

The Knox County Ohio real estate market is off to an impressive start and January 2015 will likely surpass January of 2014 based on the number of residential homes SOLD.  Home sales are not the only segment of the market showing positive signs because the number of homebuyer inquires who are calling and emailing us about our residential listings are much higher than last year.  Our online website property views on KnoxCountyOhio.com are also on the rise with many days in January receiving more than 1,000 listing pageviews in a single day.  

The graph below is a residential market report that highlights some very key Knox County Ohio real estate market data.  Currently there are 210 active residential homes for sale and there are 28 pending sales being reported and there is a strong likelyhood that there are even more pending sales than the 28 being reported here.  During the last 6 months there have been 235 homes within Knox County Ohio that have successfully sold and 188 that either expired or were withdrawn from the market (this number is pretty typical once school starts and going into the winter months).

Knox County Ohio Real Estate Market Report by Sam Miller

Take a close look at the columns on the left and you will see that we have broken down each price range for you.  This is especially helpful beause it you look across the column you will see that we also list the number of available homes specifically by each price range.  As you look further to the right you will see we have also listed the number of pending sales, expired listings and how many have SOLD in each price range over the last 6 months.  This info helps us determine which price ranges will see increases in pricing and which ones have an oversupply of available home because when this happens these homes tends to sell slower (think of it as more sellers than buyers).  

The column to the far right shows how many months of available inventory is currently available in each price range.  You can also see each of these columns are highlighted by a specific color and the meaning of each color is describled at the bottom of the graph (favors buyers, neutral or favors sellers).  You will notice that the $150,000 to $174,999 price range has a red highlight which means that this price range is hot, these homes have been selling extremely well and there isn't much available listing inventory.  If you look closer at this column you will see that there have been 28 sales in this price range within the last 6 months and there are only 13 available for sale today which means there is a shortage.  If you look at the $275,000 to $299,999 price range you will find the exact opposite and this price range is flat today.  There is currently an 18 month supply of available homes.  Only 3 homes in this price range have SOLD during the last 6 months and there are 9 currently for sale and during the last 6 months there were 11 homes in this price range that failed to sell.  Be sure to check out the specific column that most closely matches your desired price range so you will have an insiders view of the current Knox County Ohio housing market.

Our team would love to answer any questions you might have about the Knox County Ohio housing market so feel free to call or email us at anytime.

Thank you!

Sam Miller

During the last 10 years the Knox County Ohio housing market has followed a consistent trend relating to monthly sales.  During the winter months the Knox County Ohio housing market reports fewer home sales and at a lower average sales price than during the peak real estate months which traditionally run from April through August.    

Knox County Ohio Median Sales Price on December 1st, 2014

The graphic above represents a common pricing trend that shows that the Knox County Ohio housing market peaks during the summer months.  The reality is that our community consistently buys more higher priced homes during the summer months and before school starts each year.  The graph represents a common market trend which relates to families buying and selling homes during the summer before school starts but there is a hidden factor you may not have considered.  

During the sunshine months the number of expensive waterfront homes that sell at the Apple Valley Lake greatly influence the median sales price.  When the boating season is over and the lake market cools off we simply don't sell as many of those more expensive waterfront homes which brings our median price of SOLD homes back to where it would normally be prior to the influence of those higher priced homes.  If we were to show a report and exclude the waterfront homes the median SOLD price of a home in Knox County Ohio would be roughly $115,000 during the same 6 month period.  

You can view and compare all of our available Knox County Ohio homes for sale and we have organized them in price order for quick and easy viewing.

The real estate activity in Mount Vernon, Ohio is experiencing a positive shift in buyer activity.  As many of you already know the winter weather in Central Ohio was one of the most challenging in over 20 years with a few weeks of extremely cold temperatures approaching 20 below zero.  This is VERY rare for Central Ohio and this winter there truthfully were times when it was so cold that buyers didn't want to come out and look at homes...they simply stayed home until the weather warmed up.  

The report below gives you a detailed view of the Mount Vernon, Ohio housing market highlighting active listings, pending home sales, expired listings and off markets as reported to the Knox County MLS.  This information is very helpful for my real estate team, my lenders, the appraisers I work with and it is VERY helpful to the buyers and sellers who are working with The Sam Miller Team because it helps them better understand the current housing market in Knox County Ohio.   

Mount Vernon Ohio Home Sales Report by Sam Miller

 

Take a close look at the far right column and you will see some detailed statistics titled "Absorbtion Rate which is the current number of inventory in months.  This information is color coded and you can tell which price ranges specifically favor a seller and which price ranges favor buyers.  The way we can determine this is based on the estimated months supply of inventory based on how many homes have been selling on average each month.

If you are in the market for a Mount Vernon Ohio home for sale be sure to click on this link and take a closer look at all of our available Mount Vernon Ohio real estate listings organized by price.

Thanks,  

Sam Miller 

Knox County Ohio Home Sales in January 2012

by Sam Miller

 

Home sales in Knox County Ohio are on the rise and last month the Knox County Board of REALTORS MLS system reported a 5% increase in homes sales inside the county.  What is equally interesting is that there were 46 new listings added in January and a total of 311 homes listed within the county per the local MLS.  This is a positive sign and many experts believe we are headed towards a more stable housing market.  The FEDS recent announcement to not raise the FED rate adds to the good news for real estate and most businesses associated with the housing market. 

January 2012 was one of the most active Januarys for our real estate team since 2007.  Showing activity on our personal listings was way up over the showing activity in January 2011.  Not only did we receive more physical property showings on our listings but our virtual home showings from our KnoxCountyOhio.com website was up a significant amount.  Our KnoxCountyOhio.com real estate website experienced listing page views and traffic numbers that matched our 2nd single biggest month ever and the record months are usually recorded during the peak home selling season in the summer months.  The reason I am sharing this with you is because it confirms a trend that our local market activity is on the rise and I believe their is a high probability this trend will continue throughout 2012.        

Thinking of purchasing a home?  Home pricing is down and mortgage interest rates are at a 50 year low.   

 

 

Knox County Ohio Home Sales History For Past 5 Years

by Sam Miller

 

Knox County Ohio Home Sales Report

Home sales in Knox County Ohio started 2011 off with a slightly slower pace due to the unseasonal winter weather and snow conditions that lasted until April.  The good news is that once the spring housing market arrived home sales jumped right back on track.  2011 was the year where we experienced some of the lowest 30 year mortgage interest rates that we have seen in more than 50 years.  With the low interest rates came low monthly payments for those who qualified for a home loan and this spun the economic wheels and helped stimulate the Knox County Ohio housing market.  

2011 was the year of the "1st Time Home Buyer" in Knox County Ohio.  Our team and I experienced so many transactions in 2011 where we were helping a first time home buyer purchase and we were able to help them obtain a lower monthly payment on a home of their own than they were previously paying for rent in an apartment.  Monthly payments today are still approaching a record low and there are still zero down payment and low down payment loans available today.  If you have given any serious thought about buying a home now may be a good time for you because the asking prices of most homes are down and when you combine lower prices with record low interest rates you have the perfect combination for long term financing saves and the making of a great investment. 

We have created some special real estate listing links that feature over 100 available homes:

 

Apple Valley Lake 5 Year Home Sales History

by Sam Miller

 

The Apple Valley Lake continues to be an active housing market and sales have remained relatively strong over the last 5 years.  There were 85 Apple Valley homes that sold in 2011 according to the Knox County Ohio MLS as of January 2nd, 2012.  It should come as no surprise that 85 home sales at the Apple Valley Lake didn't break any home sales records but 2011 was within 8 homes sales of matching the 2010 Apple Valley home sales numbers.  One of the key factors that caused Apple Valley to not match or surpass home sales figures of 2010 was because in 2011 we had a very long winter season with snow on the ground all the way into April.  The reality is that the second half of the year in 2011 was actually stronger than in 2010 which is a sign that the market was headed in the right direction.  

Apple Valley Lake 5 Year Home Sales History2011 was a great year for our real estate team regarding home sales at the Apple Valley Lake, lots sales at the Apple Valley Lake and real estate sales in general within Knox County Ohio.  We were pleased to lead the local housing market for the 20th consecutive year for most homes sold and we successfully sold and closed 203 real estate transactions which is nearly triple the transactions compared to the nearest real estate team in Knox County Ohio.  

If you are considering making a move in 2012 to the Apple Valley Lake or even if you just want to purchase a cheap Apple Valley lot so that you can lake and amenity privilidges at the Apple Valley Lake, The Sam Miller Team we would love to be your Apple Valley Lake REALTOR.  You can view available Apple Valley Lake homes for sale and we have also created a special listing which which contains Apple Valley Lake lots for sale and both links are conveniently organized in price order for easy viewing.

 

November Home Sales Report for Knox County Ohio

by Sam Miller

 

Knox County Ohio Housing Market Update by Sam Miller

It's December 1st and here is your Knox County Ohio November 2011 home sales report.  

Residential homes sales in November 2011 were up 40% compared to November 2010.  This is a HUGE increase and I purposely compared the exact same months instead of comparing November 2011 with October 2011 so that I could demonstrate the significance of our recent home sales activity increase.  November 2011 and October 2011 were both WAY up regarding home sales and neither of these months were up just slightly either.  October was up by about 30% compared to the previous October 2010 and this November was up by 40.9% as of today and there might even be some November home sales that haven't been report to our local Knox County Ohio MLS yet either.  This November we saw a positive shift in specific price ranges that were selling.  

80.6% of the homes that SOLD this past November sold between $50,000 to $175,000.  This means that both the entry level priced homes and the mid price range homes were most active.  This also means that 4 out of 5 homes that SOLD in November sold in this price range.  This is a very positive market shift because during the fall season in Knox County Ohio the housing market generally slows down when the colder weather arrives.  

When the lower and more average price range homes are selling...the owners of these homes traditionally move up into larger and more expensive homes.  When this happens it can help create additional interest, activity and more home sales in the mid and upper price ranges.  Many of the serious homebuyers that are in the market today already own an existing home and most of them need to sell their current home so that they can take advantage of the exceptional opportunities that are available in the market today.  I recently read that the current home pricing is comparable to price levels that existed between 1998 - 2001 before the rise of the housing bubble.  This is significant not only because of the current lower housing prices but because when you combine todays lower pricing with some of the lowest mortage rates in over 60 years you have arrived at potentally the most affordable time in the past 60 years to buy and own a home.  

There will be people that you know who will look back on 2011 and 2012 and wish they had bought a home during one of the most affordable times in history.  The opposite side of this is that the many wise homebuyers will look back on this time as one of the greatest home buying opportunities to buy low, enjoy the benefits of home ownership while creating an opportunity because buying low and selling high is one of the keys to building financial security for later life.  

Will you look back on 2011 and 2012 and say "I wish I would have bought a home when the interest rates were 4%?".  

Knox County Ohio October Home Sale Report

by Sam Miller

 

The sun has been shining on the Knox County Ohio local market lately and home sales are on the rise.  This past October we saw an increase of roughly 30% in monthly home sales compared to October 2010.  What is really interesting is that we saw an increase in home sales during a time of year when the housing market traditionally begins to slow down following the summer market after school starts.  This recent increase in Knox County Ohio home sales bucks the market trends and sales statistics over the previous 5 years.  

Knox County Ohio website traffic October Report by Sam Miller

Knox County Ohio and most specifically the Mount Vernon community and at the Apple Valley Lake experienced the biggest increases in showings, online website viewings and homes sales during this past October.  The number of agressively priced homes has reached record levels with an amazing selection to choose from.  When you combine an extensive selection of available homes, much lower home prices and some of the lowest and most affordable 30 year fixed interest rates in nearly 60 years...you have the perfect conditions for first time homebuyers to enter the housing market.  

When first time buyers purchase their first home they enable that homeowner to sell their home and purchase a replacement home.  This is a very important factor that is helping drive the current housing market and it helps explain why our market experienced a 30 percent increase.  I believe as this trend continues that we could continue to see similar increases in monthly home sales as more and more first time homebuyers discover that they can purchase a nice and affordable Knox County Ohio home with very little money down using FHA and OHFA financing.  In many cases we can help homebuyers buy with absolutely zero down payment when they qualify for Rural Development, USDA or VA loans.  With low interest rates and home pricing so low many buyers can buy a home and have monthly payments that are as low if not lower than what they are paying each month for rent.

If you are interested in buying a home and taking advantage of the opportunities and savings that are available TODAY be sure to contact us at (740) 397-7800 or feel free to register online at "I want to buy a home".

Knox County Ohio August Home Sale Report

by Sam Miller

August 2011 home sales in the Knox County Ohio MLS were up for the month.  According to our local MLS, there were 52 residential home that sold ranging in price from $19,500 to $360,000.  The average sales price for a Knox County Ohio home that sold in August was $123,858 which is up from July which averaged only 35 homes sales.  52 home sales compared to 35 is a significant increase and a positive sign.  A side benefit for existing sellers who have their homes for sale is that the increased August homes sales removed 52 competing homes from the market.  This creates more opportunity for those who have their home on the market today and increased their changes to sell their home this year.

If you are in the market to purchase a home be sure to check out our amazing selection of available homes by visiting Knox County Ohio Homes For Sale.

 

Knox County Ohio Home Sales For May 2011

by Sam Miller

DRAFT

May 2011 Home Sales

 May 2010 Home Sales - There were 54 homes that sold for a grand total of $6,241,542.

The differences between May 2011 compared to May 2010 is that in May 2011 there were XX fewer sales this May compared to the May of 2010.  This is a reduction in Knox County Ohio homes sales of XX%.  Every real estate company that was listed in the Knox County Ohio MLS in 2010 saw a reduction in home sales except REMAX Stars.  REMAX Stars not only experienced an increase in the number of their own listings SOLD but 

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Sam Miller
RE/MAX Stars Realty
710 South Main Street
Mount Vernon OH 43050
740-397-7800
Fax: 740-399-3604