The graphic above highlights all the home sales that have taken place within the last 6 months in the Mount Vernon Ohio School District. The graphic also compared SOLD homes to off market and expired listings in the same area. If you take a close look you will see that the homes listed for $200,000 and below are outselling the off markets and expired listings by huge numbers but homes above $200,000 to the $250,000 range are experiencing a softer market.
We also notice that the $50K - $100K price range has a relatively large inventory of properties for sale at 43 listings. The median list price (or asking price) for all properties in this market is $124,000. A total of 114 contracts have closed in the last 6 months with a median sold price of $105,000. Breaking it down, we notice that the $50K - $100K price range contains the highest number of sold listings.
Alternatively, a total of 48 listings have failed to sell in that same period of time. Listings may fail to sell for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time.
Sam Miller Team of REMAX Stars Realty 740-397-7800 Knox County Ohio Real Estate