Home Selling in 45244>Question Details

Curt Morrison, Home Buyer in 45242

Cincinnati East Side Market Demographics

Asked by Curt Morrison, 45242 Sun Aug 30, 2009

I'm going to buy a home on the east side of Cincinnati (Anderson Twp, Cherry Grove, Eastgate, Union Twp, Milford, Loveland, etc.) in the $250,000-$400,000 range, and I want to buy one that should be fairly easy to sell in 5-10 years. Therefore, I want to know the demographics and tastes of the average home-buyers in that price range in that area. How old are they? Do they have kids? If so, how many? How many buyers are empty nesters? What do they value most in a home (extra bedrooms, home office, high-end kitchen, square footage, ...)? How many buyers are available in that price range vs lower and higher ranges?

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Curt,

The easiest way to accomplish this is to go to http://www.LRES.info and click on the community reports tab at the top of the page. Type in the zip's your questioning and all the info will be at your fingertips. Good luck!
0 votes Thank Flag Link Thu Sep 17, 2009
Great questions Curt!

First off - you might try this link for some general demographic information. I looked up Anderson Township, it should be easy to navigate around to other areas nearby.

http://www.city-data.com/township/Anderson-Hamilton-OH.html

This, or information from the census bureau is probably your best source of demographic information. Weigh the anecdotal info you might get from any Realtor against your own gut... and hard demo data like above.

But let me respond from a more "macro" viewpoint. I wrote a blog post in June, about the effect the Echo Boomer generation will have on housing demand. (see reference below). EchoBoomers are 80 million strong - 3 million more than the BabyBoomer generation. BabyBoomers led to a huge build-out to meet housing demand; and the rise in home prices during the 60s thru 80s. It's likely history will repeat itself with this new generation.

No doubt about it, the EchoBoomers are already flexing their muscles with the current uptick in home sales - first time buyers are driving the boat! A good number of EchoBoomers may well be holding back while the economy turns around over the next couple years... but that equates to pent-up demand over the longer term.

That's a roundabout way of answering your question. If you have a 5-10 year window, and you buy a newer home in an area with good schools, that is suitable for a family (3 bedrooms, 2 full baths minimum)... I think you'll be pleased with how quickly it sells.

And if you need any help finding that home, I hope you'll give me a call.

Bob Wuest
(513) 328-1520
http://www.BobWuest.com
0 votes Thank Flag Link Wed Sep 9, 2009
I'd be happy to share a few general observations with you on the average home buyer for the areas you mentioned. Keep in mind, your selected agent should be able to provide you that type of hard data (number of buyers or sales broken down by area, number of bedrooms and by price points). If you haven't selected an agent to assist you, please contact me and I'd be happy to supply you additional hard data and a selection of homes for viewing.

Basically, the price point for the area is going to draw a young single professional or a young professional couples with or without children at the lower end. The higher point of the range will most likely draw couples with children. The school district report card http://(www.ode.state.oh.us) is a good indicator to go by. 4 bedrooms are usually a key element to resale as are updated kitchens and baths. Wallpaper and borders are considered negatives for most people's tastes. A question you didn't ask, but should be considering-- of the sales, how many have finished basements versus unfinished bsmts.?
0 votes Thank Flag Link Wed Sep 9, 2009
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