Knox County Ohio Real Estate Absorption Rate Report 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there have been 235 homes within Knox County Ohio that have successfully sold and 188 that either expired or were withdrawn from the market (this number is pretty typical once school starts and going into the winter months).
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
