Making Sense of a CMA - Competitive Market Analysis

Here are some things I would recommend looking at when looking at active, expired, pending and sold listings on your CMA.

*What is the average List price in your neighborhood on active homes

*What is the average Sale price in your neighborhood on sold homes

*You’ll notice that Sale Price is more than likely only 3-4% lower than FINAL List Price on the Sold properties

*What is the average number of days on the market?

*What is the original list price of the fasted selling properties? You’ll probably notice the sold homes that were originally priced too high, eventually lowered their price, still sold for market value, but the time on the market was longer.

*Look at Expired listings and Do Not Follow their lead on price! These houses did not sell!

*What is the price per square foot on the Sold properties?  This helps when homes are not very similar in a neighborhood. The highest dollar per square foot price will be the houses with major updates like kitchens, baths and roofs. These homes also have the most amenities.

*How does yours compare in terms of size, upkeep and amenities? Obviously, the lowest square footage price will be the homes that are the least updated, but most homes will fall somewhere in the middle.

*The key here is to price it just below the bucket where it objectively fits. Information on the updated features is usually in the marketing remarks of the MLS listing provided by your agent.

*Pricing your home on an even number price point helps your home come up in more searches.  Let’s assume your Correct Market Value is 175,000.

        *If you price your home at 174,900 you would come up in a search from 150,000-175,000.           

         *However, you would not be in a list of homes from 175,000-200,000. Set your price on the even dollar,          in this case right at 175,000.

If a home is overpriced, buyers may not even see your home. Let’s use the scenario above and assume a buyer is looking for homes up to 175,000. If you’ve priced your home above the market at 185,000, that buyer would not even see your home because it will not come up in their search for homes up to 175,000.

If you would like a CMA on your home, you can request one here, or go to www.LaurieHomeSales.com

Ohio October 2011 Real Estate Sales Market Report

Now is the time to buy! The Ohio October 2011 Real Estate Sales Market Report in the Dayton Ohio area for single family, residential homes in Montgomery, Greene, and Warren counties in and around Wright Patterson Air Force Base shows minimal changes. The average days on market in September 2011 was 99, and it was 114 days on the market on average for homes sold in October 2011. The price per square foot remained unchanged. Signs of market stabilization are present! See the perfect home? Buy it, don't delay because it will probably be gone tomorrow with the record low interest rates!

SEPTEMBER 2011

• Homes Sold - 580
• Average Bedrooms - 3
• Average Square Footage - 1,837
• Average Listing Price - $133,392
• Average Selling Price - $127,314 ($69/square foot average)
• Average Days on Market - 99
• Homes Sold Price Range $1,700 (E of Findlay) - $1,250,000 (Beavercreek S of 35)

OCTOBER 2011

• Homes Sold - 531
• Average Bedrooms - 3
• Average Square Footage - 1,796
• Average Listing Price - $131,109
• Average Selling Price - $124,302 ($69/square foot average)
• Average Days on Market - 114
• Homes Sold Price Range $2,500 (Lower Dayton View) - $853,500 (Washington Twp-NW)

Beavercreek Ohio Event at The Greene with FREE Hayrides

Kids Fest 2011
Saturday, October 22nd, 12:00 - 3:00 PM
The Greene in Beavercreek near Wright Patterson Air Force Base

FREE Hayrides, Wax Hands, Inflatable Obstacle Course, Balloon Artist, Magician, Face Painting & More!!!
Special Scanvenger Hunt for children and families too!
Children are invited to walk in the Pet Parade for free.
Come dressed up or come as yourself!
Read more details at http://www.thegreene.com/

Happy Fall!

Now is the time to buy! The September Market Report in the Dayton Ohio area for single family, residential homes in Montgomery, Greene, and Warren counties in and around Wright Patterson Air Force Base shows minimal changes. The average days on market in September 2010 was 99, and it was also 99 days on the market on average for homes sold in September 2011. The price per square foot also remained unchanged. Signs of market stabilization are present! See the perfect home? Buy it, don't delay because it will probably be gone tomorrow with the record low interest rates!

SEPTEMBER 2011

• Homes Sold - 580
• Average Bedrooms - 3
• Average Square Footage - 1,837
• Average Listing Price - $133,392
• Average Selling Price - $127,314 ($69/square foot average)
• Average Days on Market - 99
• Homes Sold Price Range $1,700 (E of Findlay) - $1,250,000 (Beavercreek S of 35)

SEPTEMBER 2010

• Homes Sold - 587
• Average Bedrooms - 3
• Average Square Footage - 1,794
• Average Listing Price - $130,679
• Average Selling Price - $123,682 ($69/square foot average)
• Average Days on Market - 99
• Homes Sold Price Range $3,500 (Upper Riverdale) - $700,000 (Englewood-Clayton)

Ohio September Festivals and Events

Saturday, September 10, 2011

· Beavercreek Popcorn Festival http://beavercreekpopcornfestival.org/

· Dayton Greek Festival http://www.daytongreekfestival.com/

· Dayton Hispanic Heritage Festival at RiverScape Metropark http://online.activecommunities.com/fiverivers/Activities/ActivitiesDetails.asp?ProcessWait=N&aid=480

· Kettering Italian Fall Festa http://www.italianfallfesta.com/

· Miamisburg Starving Artists Outdoor Arts & Crafts Fall Festival http://www.miamisburgstarvingartists.org/

Sunday, September 11, 2011

· Centerville Guitar Fest http://www.ci.centerville.oh.us/

· Kettering Healthy Fall Fest at the Fraze Pavilion http://events.activedayton.com/kettering-oh/events/show/209859385-kettering-health-network-healthy-fall-fest

· Wright Patterson Air Force Base USAF Band of Flight Concert www.nationalmuseum.af.mil.

Friday, September 16, 2011

· Dayton Fall Urban Nights http://www.downtowndayton.org/

· Dayton Taste of Miami Valley at RiverScape Metropark http://online.activecommunities.com/fiverivers/Activities/ActivitiesDetails.asp?ProcessWait=N&aid=478

Saturday, September 17, 2011

· Beavercreek Heritage and Herb Days http://beavercreekhistoricalsociety.org/wordpress/events/heritageherbdays/

· Bellbrook Family Health Fair http://www.bellbrooksugarcreekparks.org/

· Vandalia Airport Expo Center Dayton Women’s Fair http://daytonwomensfair.com/

Saturday, September 24, 2011

· Bellbrook Music Boosters 23rd Annual Fall Marching Band Invitational with the Ohio University Marching Band http://events.activedayton.com/bellbrook-oh/events/show/209931625-bellbrook-marching-band-competition-with-special-guest-ou-marching-110

· Dayton Oktoberfest http://www.daytonartinstitute.org/events-activities/oktoberfest

· Montgomery County Fairgrounds Chocolate Festival http://montcofair.com/event_calendar.htm

Enjoy!