Three Hot Housing Markets in the Midwest Where Sellers Have a Big Edge
Cincinnati, Milwaukee and St. Louis are the three places to look in the midwest when looking for homes or to build.
According to PENTA, sellers of luxury properties in the Cincinnati area often receive offers in one day, mainly if they’re located in desirable communities such as Mason and Deerfield, each about 25 miles north of the city, said Zamira Sarvalov, an agent with Howard Hanna Real Estate Services in Cincinnati.
“There’s very little available for sale, so anything that comes on the market sells quickly, especially if it’s in a school district that’s in demand,” Sarvalov said. “Luxury homes are priced from $900,000 up to $1.6 million for houses with more than 4,000 square feet and a half acre of land or more.”
Like in other markets around the country, very little new construction is available.
“Buyers want relatively new homes that are 5 to 10 years old at most if they can find them,” Sarvalov said. “If sellers of homes that are older than that want a better price or more than their asking price, they need to get the house in good shape and have it look like a model home.”
Sarvalov said that many of her buyers offer $20,000 to $30,000 above the listing price, even if a home is reasonably priced, to raise their chance of an accepted offer.
