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COMEY & SHEPHERD RELEASES ANNUAL RESIDENTIAL LUXURY MARKET REPORT: MANY 2011 HOMES OVER $500,000 SPENT FEWER DAYS ON THE MARKET THAN 2010
April 5, 2012

 

CINCINNATI, OH – April 5, 2012 – Cincinnati-based Comey & Shepherd Realtors has published its annual luxury markets report, based on sales of residential single family homes and condominiums at $500,000 and above, covering Cincinnati’s eastside and northern corridor, and the addition of Northern Kentucky. Of the twenty-one urban and suburban areas surveyed, about half of the homes sold were on the market for a shorter period of time than the prior year, despite overall economic challenges.

In a neighborhood-to-neighborhood price assessment based on single-family home sale prices comparing all MLS (multiple listing service) listings of 2010 home sales to 2011 home sales, the report shows that the number of days on the market before a sale decreased in select neighborhoods:

• Amberley Village - homes spent an average of 68 days on the market in 2011 vs. 129 in 2010
• East Walnut Hills - homes spent an average of 123 days on the market in 2011 vs. 149 in 2010
• Hamilton Township & South Lebanon - homes spent an average of 141 days on the market in 2011 vs. 171 in 2010
• Indian Hill - homes spent an average of 116 days on the market in 2011 vs. 155 in 2010
• Mariemont - homes spent an average of 33 days on the market in 2011 vs. 125 in 2010
• Ft. Mitchell, KY - homes spent an average of 94 days on the market in 2011 vs. 156 in 2010
• Union, KY - homes spent an average of 89 days on the market in 2011 vs. 215 in 2010

“These findings indicate that buyer confidence is increasing as the economy stabilizes. This further supports the health of Cincinnati and Northern Kentucky’s luxury housing market as turnover rates become more frequent,” said Scott Nelson, CEO of Comey & Shepherd. “High quality properties and competitive prices are key to selling luxury homes in a timely fashion,” Nelson continued.

All of Comey’s $ 500,000+ listings are distinguished by the Christie’s International Real Estate moniker, marketed locally, nationally and internationally through a market-exclusive licensing agreement. To view the complete Cincinnati luxury market report, visit http://www.comey.com/.

About Comey & Shepherd
Comey & Shepherd is a full service real estate agency focused on providing buyers and sellers with the guidance and expertise necessary to complete a successful real estate transaction, from a competitive market analysis to Comey & Shepherd’s own mortgage company. Leveraging over 60 years of experience in the Greater Cincinnati area, Comey & Shepherd is a local company that takes a personal approach their business. For more information about Comey & Shepherd, visit http://www.comey.com.