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Congratulations, Penny and Jessie, on the purchase of your new Leesburg, Ohio home.  Thank you for the opportunity to assist you with the home-buying process.

Sold by Vance Team Realtors

Thank you, Brad & Tamara, for the opportunity to help sell your Hillsboro home. Congratulations, Micah & Monica on the purchase of your lovely home.

Hillsboro, OH Real Estate Market Activity Report

People are asking, what is going on with the real estate market? Is this a good time to sell? Is this a good time to buy? How much is my home worth? These are questions we hear every day. It would be beneficial to share some data that might help answer some of these questions and inform you about what the local market is doing.

This article will hit the high points of the market activity report. Make sure to download the full report at the bottom of this page. As always, feel free to contact us if you have any questions about real estate.

Estimated Home Values For Hillsboro

The median estimated home value for Hillsboro, OH, 45133, is $175,000. That is down 3.24% over the past month and 7.61% over the last three months.

Hillsboro Sales Prices

The median sales price for homes in Hillsboro is $124,000. That is down 19.02% over the past month, 31.37% over the last three months, 41.25% over the past twelve months, and 7.07% over the past twenty-four months.

Hillsboro Median List Price

The median list price for homes in Hillsboro is $190,000. This is up 35.64% over the last month, 26.68% over the previous three months, 91.82% over the past twelve months, and 92.01% over the past twenty-four months. 

Where is the market heading?

With the median sales price declining steadily, home values have declined. Home values are still up 5.56% over a year ago, but the trend is heading lower. Because of low-interest rates and low inventory over the past twenty-four months, home values have increased to historic levels. The trend we see now is simply a correction to a market that has been too hot. 

Download the full report here.

Buyer's Market vs. Seller's Market

You might have heard the terms buyer's and seller's markets before. What do they mean? When is the best time to buy or sell? We are going to take a look at some significant differences between the two. The most important thing to remember is that people always buy and sell houses regardless of market conditions.

What Is A Buyer's Market?

A buyer's market typically favors the buyer in some way. Some factors lead to this. In a buyer's market, homes tend to sit on the market longer; there is more inventory, houses sell for less, and there are fewer buyers.

What Is A Seller's Market?

As the name says, a seller's market benefits the sellers over the buyers. Signs of a seller's market are fewer houses available for sale and a high number of active buyers in the market. In a seller's market, buyers are more likely to pay close to the list price and might find it challenging to get a seller to pay anything toward buyer closing costs.

What Kind Of Market Are We In Now?

Some experts say we are heading toward a buyer's market. We are slowly coming out of one of the best seller's markets in history, which started around early 2020. We are still deciding whether to say we are in a buyer's market. The rising interest rates have slowed buyer activity, and houses stay on the market longer. However, inventory is still historically low. 

If you are a seller, the best way to approach this market is not to overprice your home. Don't think you will get a steal if you are a buyer. Be prepared to pay close to the asking price if the house is correctly priced, especially if you need seller-paid closing costs.

Click Here to find out how much your home is worth with our instant home valuation.

Nice list of important phone numbers for Highland County residents

What is going on with the housing market?

Since August 2022, we have seen a shift in the housing market. Rising interest rates triggered the change. The market is moving toward more normal conditions. Correctly priced homes are still selling, but the days on the market are increasing.

The topic of today's free PDF guide is the dangers of overpricing your home. There are six dangers of overpricing your home. We will look at each of them briefly. You can download the full report to review it in more detail.

6 Dangers of Overpricing your home

1. Timing is everything: The most significant potential for buyer traffic is in the first thirty days. By pricing too high, you are missing your best candidates.
2. Showings shut out: Buyer's agents are not likely to show overpriced listings to their clients.
3. Benefits the competition: Overpriced homes are a selling point for market-priced homes.
4. Lender trouble: Even if a buyer agrees to buy an overpriced listing, there must be a successful appraisal for a successful sale. The bank will only make the loan if the appraiser can justify the price.
5. Time on the market: Overpriced homes will sit on the market. Extended time on the market makes the buyers think there are more significant issues inside the home's walls.
6. Lower proceeds: Overpriced homes almost always sell for less. Extended time on the market costs the seller more to maintain the house.

If you want to know how much your home might be worth today, click here to use our free home valuation tool. If you plan to sell in the next few months, we would love to provide you with a free Comparative Market Analysis.

Download The Full Report, 6 Dangers of Overpricing your home

Sold By Vance Team Realtors

Thank you, Emma and Forrest Porter for the opportunity to help sell your house. Congratulations, Joe and Jeanette on the purchase of your new home. We are thankful for the opportunity to help you with the purchase.

Sold by Vance Team Realtors

Congratulations, Cheyanne and Billy, on the purchase of your new Hillsboro home. Thank you for the opportunity to assist you.

Sold By Vance Team Realtors

Congratulations, Savannah and Deon, on the purchase of your New Vienna home. Thank you for the opportunity to assist with your purchase.N

Sold By Vance Team Realtors.

Thanks, Tracy and Patti, for the opportunity to help with the sale of your forty-plus acres on Taylorsville Rd. Hillsboro, Ohio.