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The Northeast Cincinnati Analysis for November 2009 shows a 2.06% increase in total home values sold when compared to November 2008. In 2008 our Northeast Analysis indicates a Total Value of $13.68M versus a 2009 Total Value of $13.96M. Much like this past October, Total Value is pretty much flat, but the number of Homes Sold shows a different picture. In November, Northeast Analysis indicates 59 Homes Sold in 2009. This is a 40% increase over 2008 when we saw 42 Homes Sold in Northeast Cincinnati. The November 2009 analysis does offer a continuing indication of the seasonal slowdown in real estate. Total Value in November ($13.96M) was down from $19.32M in October 2009 — a 27.75% reduction, but this is certainly tied to the seasonality of the residential real estate market. Year-to-year, Blue Ash (6 to 13), Mariemont (2 to 5), and Montgomery (4 to 12) saw the most positive, statistically significant increase in Homes Sold. You can see full neighborhood statistics by clicking over to the Neighborhood Resource Page and clicking on your neighborhood of choice. |
Monthly Homes Sold Report – November
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
