Knox County Ohio Real Estate Information Archive

2008 Annual Real Estate Sales Report for the Mount Vernon, Ohio Housing Market.  

• 211 Residential homes sales within Mount Vernon, Ohio in 2008
• $22,261,868 or just over 22 million in combined volume
• $105,506 was the average sales price for Mount Vernon, Ohio
• $425,000 was the highest residential sale in Mount Vernon
• $8,000 was the lowest actual frame constructed home sale (repo) 

Here are the 2008 Knox County home sale numbers broken down by specific price ranges, how many sold in each price range and the average sales price per price range grouping.

• 27 homes sold from $50,000 or less with an average sale price of $36,104.
• 41 homes sold from $50,001 to $75,000 with $61,411 average sales price.
• 47 homes sold from $75,001 to $100,000 with $86,655 average sales price.
• 33 homes sold from $100,001 to $125,000 with $110,719 average sales price.
• 25 homes sold from $125,001 to $150,000 with $138,222 average sales price.
• 13 homes sold from $150,001 to $175,000 with $158,592 average sales price.
• 13 homes sold from $175,001 to $200,000 with $189,882 average sales price.
• 9 homes sold from $200,001 to $250,000 with $231,044 average sales price.
• 2 homes sold from $250,001 to $300,000 with $276,250 average sales price.
• 1 home sold above $300,001 in the Mount Vernon, Ohio area in 2008.

Real estate sales activity for home sales in Central Ohio and specifically in the Knox County Ohio community were more stable than many had expected. It seems that the media wants everyone to believe that all real estate markets are the same and this is certainly not the case and all real estate markets are local. This past month the Knox County Board of Realtors reported 38 residential home sales in Knox County Ohio. The average sales price for September was $126,400. There has been a lot of discussion in the media lately about the current climate of the housing market. It seems that the majority of the media believes that America and the housing industry are in serious trouble. The reality is that the media should NOT assume that what is happening in Phoenix, San Francisco, Detroit, Naples or any other metro market has anything to do with the real estate trends that are taking place in Knox County Ohio. Something that the media is NOT taking into consideration is that Knox County Ohio has two very large, growing industries who specialize in the energy business. The energy business is booming and the backlog of orders is extensive and these manufacturing plants are investing over 20 million dollars in current expansions in our community. This investment is helping our community grow. Enjoy the fall seasonal colors and remember to take lots of pictures. Sam Miller

Despite all the negative media surrounding the housing industry these days our Knox County Ohio real estate market activity is stastically beating many other Ohio markets.  During the month of August the Knox County real estate market had 25 successful home sales close through the local Board of Realtors.  The average home sales price for August was $135,112 with the lowest home selling for just $39,900 and the highest Apple Valley Lakefront home selling for $372,000.  The total dollar volume for residential home sales for the month of August was $3,377,800. 

Currently there are 387 homes that are actively for sale and listed in the Knox County Board of Realtors.  Based on the 25 sales in August there is roughly 15 months of active inventory on the market.  What this means is that based on the current absorbtion rate of 25 per month it would take 15 months to deplete our current inventory.  Fifteen months of active residential inventory is certainly higher than in years past but consider that there are an increased  number of bank owned foreclosed homes on the market today which is more more than in years past.

Residential homes in Knox County Ohio continue to sell and there is increased buyer activity in the market today.  We track the number of incoming phone calls, internet website viewings, we track the number of visitors who view our virtual tours and online videos and most importantly we track the number of showings on our listing each week.  ALL of these numbers are increasing which means the market activity is heating up and there is continued interest in the Knox County Ohio housing market.

Sam Miller

Currently there are 163 homes actively for sale in the Mount Vernon School District with an average listing price of $169,317.  This average listing price is slightly higher than in years past because we have a higher number of more expensive homes currently on the market.  When you calculate averages and include a home that is listed for $825,475 it tends to elevate the numbers a little more than normal.  The lowest active home that is currently for sale in Mount Vernon is listed for $48,900 so there are certainly affordable homes available today that offer monthly payments that are cheaper than renting.

So far this year there has been 145 homes in the Mount Vernon School District that have already SOLD.  The average selling price for a home in Mount Vernon that since January 1st 2008 SOLD for $108,400.  Based on the current sales activity so far this year there should be more than 240 home sales in the Mount Vernon School District in 2008.  If you are considering buying a home in Mount Vernon Ohio in 2008 click here to view available homes, community details and virtual tours.

Currently there are 163 homes actively for sale in the Mount Vernon School District with an average listing price of $169,317.  This average listing price is slightly higher than in years past because we have a higher number of more expensive homes currently on the market.  When you calculate averages and include a home that is listed for $825,475 it tends to elevate the numbers a little more than normal.  The lowest active home that is currently for sale in Mount Vernon is listed for $48,900 so there are certainly affordable homes available today that offer monthly payments that are cheaper than renting.

So far this year there has been 145 homes in the Mount Vernon School District that have already SOLD.  The average selling price for a home in Mount Vernon that since January 1st 2008 SOLD for $108,400.  Based on the current sales activity so far this year there should be more than 240 home sales in the Mount Vernon School District in 2008.  If you are considering buying a home in Mount Vernon Ohio in 2008 click here to view available homes, community details and virtual tours.

Aloha!  I am back from Hawaii, where I was honored to co-present the opening session of the Council of Residential Specialists’ Sell-A-Bration with Howard Brinton. 

 

I also was a featured panelist for a session on technology specialization; we discussed and explained today's latest and greatest real estate technologies such as hardware, software, websites, digital social networking, and advanced digital technologies including video and virtual tours.  

 

I believe that all in attendance learned a great deal at this event and, of course, a good time was had by all! 

 

I would love to put my put my expertise in residential real estate to work for you; if you are looking for the perfect Knox County OH property to call home, please call me at 740-397-7800 or visit SamMiller.net.  

As you have probably seen in the news this week, the Fed has recently cut interest rates again, bringing rates to the lowest they have been since 2005.

 

Here is my advice about why this is a great time to take advantage of these low rates if you are considering buying a home:

 

Freddie Mac currently lists the average interest on 30-year fixed loans at 5.69 percent—the lowest level since July 2005. Other rate declines include:

• 15-year fixed mortgages dropped to 5.21 percent from 5.43 percent a week ago.
• 5-year adjustable-rate average decreased to 5.4 percent from 5.63 percent.
• 1-year ARMs fell to 5.26 percent from 5.37 percent..

Observers generally agree that borrowing costs will remain at or near 6 percent for 2008 unless a U.S. recession surfaces—in which case they expect rates to decline further.

 

To learn more about Knox County OH real estate, please call me at 740-397-7800 or visit SamMiller.net. 

If you made a new year’s resolution to finally get around to those fix-up projects around the house, you may quickly find yourself overwhelmed – and under-funded – if you try to tackle everything at once.

 

RealEstateJournal.com has put together a list of pitfalls to avoid when remodeling your home in 2008.  Read the full article here, or check out the highlights below:

 

1. Ask for advice.  Talk with a local, experienced Realtor who can help you gauge your home’s current value.  Before you go pouring money into a remodeling project, it is valuable to know where your home currently stands and what you stand to gain by making improvements.  To request a complimentary market analysis of your Knox County OH home, please click here. 
2. Dig deeper.  Considering getting a home inspection before you remodel or put your home on the market.  This will give you a very clear idea of where you need to focus your fix-up efforts.
3. Look outside.  Pay attention to the condition of the exterior of your home – including the siding and windows.  Sure, you may want to put all of your money into those new hardwood floors, but structural repairs should always be the first priority.
4. Spend time in the bathroom.  Even small upgrades to a bathroom – new hardware or fixtures – can give it a whole new feel.  If you are thinking of selling your home this year, remember that buyers want to see a bathroom that can be used right away and is not in need of major repair.
5. Keep it small in the kitchen.  We’ve all heard that “the kitchen sells the home,” but remember that, if you are planning on selling your house, every buyer has their own taste in the kitchen, so it is best to keep things neutral and let the buyer customize it as they wish. 

If you are planning to buy or sell a home in 2008, please call me at 740-397-7800 or visit SamMiller.net to learn more about Knox County OH real estate.

The National Association of Realtors has published its predictions for the 2008 housing market, and the data looks positive so far.  Most noteworthy is the trend toward improving existing home sales. 

 

Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.” 

 

Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record.  Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008.  As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity results from fewer sales in high-cost areas, so a change in the mix is dragging down the national median home price.”

 

To find out the latest trends in Knox County OH real estate, please call me at 740-397-7800 or visit SamMiller.net.  To begin searching for Knox County OH homes, please use my complimentary MLS search.