The November Knox County Ohio home sales were down by more than 50% compared to November 2009 according to the Knox County MLS sales statistics. This November there were only 20 residential Knox County Ohio home sales reported and in November 2009 there were 46 home sales for the same time period. What is very interesting is that the average pricing of homes that SOLD this November was MUCH higher compared to the November 2009 home sales. This November the average residential home sales price was $210,705 which is a significant increase in average sales price because November 2009 averaged only $113,830.
Happy New Year!! The statistics from 2009 are in and we would like to share them! In Knox County, Ohio, 417 homes were sold during 2009. $48,364,855 in total dollar volume of closed real estate was reported to the Knox County MLS. The average sales price of this real estate was $115,982.
The table below shows the number of Knox County, Ohio homes sold and the price ranges they were sold.
Number of Homes Sold
Price Range
Avg. Sales Price
11
$3,500 - $25,000
$15,800
46
$25,001 - $50,000
$38,150
65
$50,001 - $75,000
$64,506
70
$75,001 - $100,000
$86,721
89
$100,001 - $125,000
$114,546
47
$125,001 - $150,000
$136,607
34
$150,001 - $175,000
$163,419
20
$175,001 - $200,000
$189,015
8
$200,001 - $225,000
$207,937
10
$225,001 - $250,000
$238,507
5
$250,001 - $275,000
$264,580
1
$275,001 - $300,000
$300,000
3
$300,001 - $325,000
$309,333
3
$325,001 - $350,000
$342,500
1
$350,001 - $375,000
$355,000
0
$375,001 - $400,000
0
0
$400,001 - $500,000
0
1
$500,001 - $600,000
$505,000
1
$600,001 - $1,000,000
As of January 3, 2010, there are 263 homes listed in the Knox County MLS for sale. The average list price of these homes is $157,775, with a combined total dollar value of $41,495,059.
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The Knox County, Ohio Board of Realtors experienced a 5% increase in the number of homes that successfully sold in November compared to October 2009. What is even more impressive is when I compared the average sales price of November 2009 to October 2009, I quickly noticed that November averaged a higher sales price of 4.49% than the month prior. This does not mean that home values are on the rise, but it does mean that there were higher priced homes that sold in November than in October and that is a good sign.
The Knox County Board of Realtors reported 42 residential home sales throughout Knox County including Mount Vernon, Centerburg, Gambier, Howard, Apple Valley, Fredericktown and the smaller villages. The average sales price for the Knox County, Ohio homes that sold in November was $111,068. The lowest priced home that sold was a bank repossession which sold for $33,000. The highest priced home closed at $232,000.
November 2009 Compared to November 2008
I do extensive monthly market research and have completed monthly market studies for more than 15 years. When I pulled last years November 2008 home sales statistics, I compared them with the November 2009 statistics and the comparison made me smile. This November we had 42 homes sales and last year in the same time period we only had 29 home sales. That is a huge difference and that amount of increase in any market is considered BIG. Here are the results for November 2009:
Number of Homes Sold
Price Range
13
$74,900 and under
7
$75,000 - $99,000
8
$100,000 - $124,999
3
$125,000 - $149,999
5
$150,000 - $174,999
3
$175,000 - $199,999
3
$200,000 and higher
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*Disclaimer: The Knox County Board of Realtors MLS statistics as of December 1st, 2009
The Mount Vernon, Ohio condominium activity has been very active in 2009. So far this year there have already been 9 condo homes sold through the Knox County,Ohio MLS and other sales have taken place directly from the condominium builders and developers. From January 1, 2009 through October 20, 2009 the average sales price for a Mount Vernon, Ohio Condo was $117,778 and the median sales price was $120,000. The lowest priced condominium that sold in 2009 sold for $80,000, while the highest priced condo to sell this year sold for $195,000. Of the sales that were reported by the Knox County MLS, the sales were recorded in the following condo developments:
Highmeadows(Located between Wooster Road and Sychard Road)
Colony(Located on Historical East Gambier Street / State Route 229 East)
Maplewood(Located at corner of Eastern Star Road and Gambier Road)
Fairways(Vernonview Drive near Woodside and Upland Terrace)
Knolls(Located on South Main / Granville Road next to RE/MAX Stars)
I am aware of at least 2 pending sales in both the Fairways and also Woodberry developments. I am confident that there are other sales in the works because we have personally have tremendous buyer activity on 4 of our available condo homes. I predict there will be another 3 or more successful condo sales that will finalize and close by December 31, 2009.
There are 12 condominiums that are currently available in the Knox County MLS as I write this. The highest price for an available condo has a current asking price of $219,777 and the lowest listing price for an available condo in the Knox County MLS is only $110,000. The average listing price for the 12 available condominiums in the Knox County, Ohio MLS is $152,187. This average listing price is more than $30,000 higher than the average sales price so far this year.
Because there were so many more condo sales this year selling in the $80,000 to $120,000 range, the average sales price was pulled down for 2009 considerably. It is important that readers do not misunderstand these figures because this does NOT mean that the values of condominiums in Mount Vernon, Ohio dropped by more than $30,000. What this means is that there were a higher number of condo sales in the lower and mid price ranges while the upper end and more expensive condominiums were simply out sold by shear numbers this year. I believe this was the case because most purchasers interested in buying an $80,000 to $120,000 condo did not generally need to sell an existing home in order to purchase. The same is not generally the case true for condo listings that are priced between $150,000 to $250,000 in Mount Vernon, Ohio. In the upper price ranges the interested purchaser often needs to sell their current home before they can complete the purchase and this factor alone explains why the upper end condo units have not kept pace with the more affordable condo sales in 2009.
I created a some links below so that you could view details, color photos, virtual tours and additional information on our available condominiums in Mount Vernon, Ohio. As always, feel free to call or e-mail us at any time.
I recently read that approximately 86% of all home buyers start their house hunting on the internet. I find this to be a significant number because it means that nearly 9 out of 10 buyers are shopping online for a home. The challenge for many of these home shoppers is that they have to search dozens of real estate websites and they will still generally only scratch the surface of what's available in the Knox County Ohio MLS.
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