Lima, OH Real Estate is no different
"All Politics is Local." Former Speaker of the U.S. House of Representatives, Tip O'Neill, is known for originating this famous phrase. O'Neill believed that a politician's success is directly tied to his ability to understand & influence the issues of his local constituents. Whether you're a Realtor, Home Owner, or Home Buyer, this concept is also directly related to success in Real Estate. Understanding the Market Trends of your local area's neighborhoods, subdivisions, and school districts can make the difference in your ability to make good decisions that will effect you financially, as well as your quality of life.
Market Trends for Sherwood in Elida
Elida School District is located in American Township, Allen County, Ohio. According to information from Realtor.com, it has about 13,700 houses/apartments, with 10,500 owner occupied and 3,200 renter occupied. Sherwood is a subdivision in the Elida School District, made up of 340 single family homes, located on N. Cable Rd., Lima. It's a family oriented subdivision with a community pool, tennis courts and club house; close to shopping; and conveniently located for travel to the majority of job locations in Allen County. According to a WCAR MLS review of homes sold in Sherwood vs. homes sold in the entire Elida School District from 2006 to 2013, the Sherwood housing market isn't recovering, as is the rest of Elida's. Overall, during this time period, the Average Sale Price of a home in Elida School District has declined 8.4%, while the Average Sale Price of a home in Sherwood has dropped 19%. While the entire Elida School District has seen a gradual increase in the Average Sale Price in each of the last four years, Sherwood's Average Sale Price has continued to drop each year.
What does Sherwood's declining Sales Price mean?
Why are home prices in Sherwood not recovering, as they are in the rest of Elida? What does this mean for home Buyers and Sellers relocating to, or from, American Township? What about making the decision to "move up" or downsize in the Elida School District? These are questions every Home Buyer and Seller in American Township should be asking. Do you know the Market Trends in your local neighborhood, school district, or township? The first step in making good Real Estate decisions is to find a Realtor, like me, who understands the "local politics" of Market Trends. When choosing a Realtor, ask them about their knowledge of your local Market. Are home prices in a particular neighborhood rising or declining? What is the Average Days on Market for homes selling in your area? Is the List to Sales Price Ratio increasing or decreasing? Anyone can grab onto a headline about a national trend. But, only an experienced professional Realtor will be able to answer these questions about your local Market, and help you interpret the meaning of these Trends. For information about Market Trends in your local area, give me a call.
call me 419-236-1135
or email me