Neighborhood

# Sold

Active Listings

Avg. List

Avg. Sale

**Days on Market

101

48

40

63

84

118

56

42

Terrace Park
805 Douglas Avenue
$899,900
10 Rooms, 4 BRs, 4/1 Baths
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Great family home in the heart of Terrace Park. One block from the elementary school.
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Very open floor plan. Oversized garage. 3 Season room. Many upgrades. Serene patio.
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East Walnut Hills
1870 Madison Road
$899,900
11 Rms, 6 BRs, 6/1 Baths
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Enter a world of serene elegance and timeless grandeur.
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Classic East Walnut Hills estate with every modern convenience.
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Contact for both homes:
Lee Robinson
513.842.2225
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Click house image for more info.

Credit for this article goes to CNBC.
Home prices are moving so far, so fast, that at least 1,000 local housing markets have hit all-time price highs. It should come as no surprise, therefore, that potential home sellers are giddy with value.
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"I even hear them say that prices are skyrocketing," said northern Virginia real estate agent; Jeremy Cunningham. "When you ask them what their data source is or where they're getting their information, they say it's more of a vibe."
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Forty percent of sellers surveyed said they are planning on pricing their homes above market value when they list in the second quarter of this year; that's up from 33 percent at the beginning of the year. Cunningham's brokerage polled 1,128 active home sellers across 25 U.S. cities.
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Confidence is behind it all. Fifty-two percent said they were confident that now is a good time to sell, versus just 37.5 percent three months ago. This, conversely, as sales of existing homes were actually lower in March by 7.5 percent from a year ago, according to the National Association of Realtors.
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Another survey of 1,000 homeowners and renters by mortgage giant Fannie Mae found that those who say it is a good time to buy a house held steady in April at 69 percent, but those who say it is a good time to sell increased 4 percentage points from the previous month to 42 percent, an all-time survey high.
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"Consistent with (April's) upbeat jobs report, concern about job loss among employed consumers also has hit a record survey low. These results are in line with our expectations for increased housing activity and gradual strengthening of the housing market going into the spring and summer selling season," said Doug Duncan, Fannie Mae's chief economist.
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More sellers now say they are pricing their homes high because they are willing to wait if it doesn't sell. An increasing number of sellers also say they are pricing high because they need that value to pay off their mortgages. Nearly 10 million U.S. homeowners were underwater on their mortgages at the end of last year.
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The Soricelli family in northern Virginia thought about selling their home a year ago, but held off, hoping that prices would improve. After watching solid home appreciation in the neighborhood and across the country, they decided to put their home up for sale this spring. Their asking price, however, was higher than their agent Cunningham, thought was realistic.
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"My wife and I take a lot of pride in our house and did a lot of upgrades," said Brad Soricelli. "We put a lot of money into it, so in trying to reconcile that with what the market is now, there was a little back and forth."
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Cunningham said he is usually able to talk his clients back to reality by showing them comparable sales, but the data can be confusing. That is especially true in markets where investors and all-cash buyers are more prevalent.. -RSIR