This creek is one feature on 17+ wooded acres just outside the I-275 loop at 806 Carpenter Rd in Miami Twp
Four plus bedroom homes see largest year over year increases in sales for July
I presented the stats from single family home sales that closed in the month of July for Hamilton County previously, but this time I wanted to drill down to some of the differences we are seeing when homes are separated by the number of bedrooms.
Looking first at numbers of sold homes, 4 bedroom and 5+ bedroom homes saw the greatest increases at +20.4% and +32.8% compared to July 2019.
One could read this two ways: relative weakness in 2 and 3 bedroom homes or relative strength in 4 and 5+ bedroom homes.
Low inventory has been a limiting factor in the number of sales for 2 and 3 bedroom homes, so I think we are seeing an uptick in demand for 4 and 5+ bedroom homes rather than weakening of the market for 2-3 bedroom homes.
Median sales price per square foot is up across the board, especially for 2 bedroom homes.
I think we are still seeing many buyers that would prefer 3 bedroom homes are settling for 2 bedrooms and instead are planning on moving up sooner than they would otherwise.
Median days on market (aka half of the homes sold were under contract in this number of days or less) was down for all bedroom categories, with a steep decline for 5+ bedroom homes from 16 days down to 9.
For the past 1-2 years, the market for 2 and 3 bedroom homes has been very tight due to low inventory. While that doesn't appear to be changing in the near term, now decreasing inventory is expanding into 4 and 5+ bedroom homes as well. Please contact me if you have any questions at 513-830-8227 or email@example.com. I would be happy to discuss further.
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