By: Alison North, Realtor & Team Lead

The real estate market is currently experiencing a low inventory with only 1.75 months supply available, indicating a high demand for homes. This shortage of inventory has led to a 23.24% increase in the months of inventory over the past year, showing a trend towards more homes becoming available on the market.

Homes are selling quickly, with a median of only 11 days on the market before being sold. This fast pace can be attributed to the high list to sold price percentage of 100%, meaning that homes are typically selling for their full listing price. This is great news for sellers as it indicates a strong market where properties are in high demand.

The median sold price for homes in this market is $176,500, showing stability and affordability for buyers. This moderate pricing combined with the quick turnover of homes on the market suggests a healthy balance between supply and demand.

Overall, these metrics paint a picture of a dynamic real estate market with high demand, low inventory, and quick sales. Buyers may need to act fast to secure a property, while sellers can take advantage of the favorable conditions to achieve a quick and profitable sale.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, Maegan Benne 706-840-2466, or Amy Fralick 937-408-5368 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By Alison North, Realtor & Team Lead

The real estate market is currently showing a low level of inventory with a months supply of inventory at 1.52. This indicates that there is a high demand for homes and a limited supply, which could lead to competitive bidding and potentially higher sale prices for sellers. 

The 12-month change in months of inventory has seen a significant increase of 29.91%, suggesting that the market may be starting to balance out as more homes become available for buyers to choose from. 

Homes are selling quickly with a median of only 8 days on the market. This swift turnaround time indicates a strong market where properties are in high demand and buyers are acting quickly to secure their desired home. 

The list to sold price percentage is at a high 99.3%, showing that sellers are able to negotiate close to their asking price. This demonstrates that buyers are willing to pay top dollar for properties in this market. 

The median sold price for homes is $169,500, indicating that there is a range of affordable options available for buyers in this market. Overall, these metrics suggest a competitive market with high demand and quick turnover, making it an attractive time for both buyers and sellers to participate in real estate transactions.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, Maegan Benne 706-840-2466, or Amy Fralick 937-408-5368 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By Alison North, Realtor & Team Lead

The Hidden Risks of Using a Discount Brokerage to List Your Home on the MLS

In today’s real estate market, selling a home can be both an exciting and daunting process. With the rise of discount brokerages offering to list your home on the Multiple Listing Service (MLS) for a fraction of the cost charged by traditional full-service agents, many sellers are tempted by the allure of saving money. While this can seem like an attractive option, it’s crucial to understand the potential risks involved before making a decision.

1. Limited Services and Support

Discount brokerages often offer a bare-bones service that includes nothing more than placing your property on the MLS. Traditional real estate agents, on the other hand, provide comprehensive support throughout the selling process, from pricing your home correctly to negotiating with buyers. When you opt for a discount brokerage, you might miss out on professional guidance, which could lead to costly mistakes, such as underpricing or overpricing your home.

2. Inadequate Marketing and Exposure

A successful home sale requires more than just an MLS listing. Full-service agents employ a variety of marketing strategies, including professional photography, staging advice, social media promotion, and open houses, to attract the right buyers. Discount brokerages, however, often do not provide these services, meaning your home won’t get the visibility it needs to sell quickly and at the best possible price.

3. Negotiation Challenges

One of the most critical aspects of selling a home is negotiation. Experienced real estate agents have the skills to negotiate effectively with buyers and their agents, ensuring you get the best possible deal. Without this expertise, sellers using a discount brokerage might find themselves at a disadvantage, potentially leaving money on the table or agreeing to unfavorable terms.

4. Liability and Legal Risks

Real estate transactions involve complex legal documentation and procedures. Full-service agents help ensure that all paperwork is completed accurately and that you are in compliance with all relevant laws and regulations. When using a discount brokerage, you may be responsible for handling these details on your own, increasing the risk of errors that could lead to legal disputes or financial loss.

5. Potential for Low-Quality Service

Not all discount brokerages are created equal. Some may cut corners or provide subpar service to maintain their low fees. This could result in poor communication, delays, or a lack of attention to detail that could negatively impact your home sale. In the worst cases, you might find yourself stuck in a contract with a brokerage that isn’t meeting your needs, with little recourse to address the situation.

6. Hidden Fees

While discount brokerages advertise low fees, it’s important to read the fine print. Some may charge additional fees for services that are typically included in a full-service agent’s commission, such as listing updates, additional marketing, or even contract reviews. These hidden costs can quickly add up, negating any savings you thought you were getting by choosing a discount option.

7. Impact on Sale Price

A well-marketed home, supported by an experienced agent, will sell for a higher price than one that is simply listed on the MLS. Studies have shown that homes sold with the assistance of a full-service real estate agent tend to fetch higher prices than those sold through discount brokerages. The potential loss in sale price might outweigh the savings on commission fees, leaving you with less money in your pocket overall.

Conclusion

While the idea of saving money by using a discount brokerage to list your home on the MLS is appealing, it’s essential to weigh these potential risks against the benefits. The home-selling process is complex and fraught with challenges that require professional expertise and attention to detail. By choosing a full-service real estate agent, you’re more likely to achieve a smooth transaction, maximize your sale price, and avoid costly mistakes. Remember, in real estate, as in life, you often get what you pay for.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, Maegan Benne 706-840-2466, or Amy Fralick 937-408-5368 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By: Alison North, Realtor & Team Lead

With a Months Supply of Inventory at 0.97, this means that there is less than a one-month supply of homes available on the market. This low inventory level typically leads to high demand and competition among buyers, resulting in quick sales and potentially bidding wars.

The 12-Month Change in Months of Inventory of -2.02% shows a decrease in the supply of homes compared to the previous year. This further confirms the tight market conditions and the limited availability of properties for sale.

The Median Days Homes are On the Market at 8 days reflects the swift pace at which homes are selling. With homes being listed and sold within a short timeframe, sellers can expect quick turnaround times and buyers need to act fast to secure a property.

The List to Sold Price Percentage of 100.3% indicates that homes are selling for slightly above their listing price on average. This suggests that sellers have the upper hand in negotiations and may receive multiple offers, driving up the final sale price.

Lastly, the Median Sold Price of $179,900 showcases the current market value of homes in the area. With strong demand and limited inventory, prices are likely to remain competitive with potential for appreciation in the future.

Overall, these metrics paint a picture of a highly competitive real estate market with low inventory, quick sales, and strong seller leverage. Buyers should be prepared to act swiftly and potentially pay above asking price, while sellers can expect a quick sale at a favorable price point.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

The Avenue Group is On the Move: A Visit to Speakeasy Ramen in Springfield, Ohio

By: Alison North, Realtor & Team Lead

Hello, fellow food enthusiasts! The Avenue Group recently had the pleasure of visiting one of Springfield, Ohio’s most talked-about hotspots: Speakeasy Ramen. Nestled in a spot that once housed Nifty 50's, a popular local watering hole, this restaurant has quickly become a favorite for both locals and visitors alike. We had the opportunity to sit down with Carly Hensley, the Director of Operations, who gave us an insider’s look at what makes Speakeasy Ramen so special.

First things first, let’s talk about the menu. Carly introduced us to some of their standout dishes, and let’s just say, we left with very happy bellies. One of the stars of the menu is the Tonkatsu Ramen, a rich and flavorful pork broth served with tender noodles, perfectly cooked pork belly, and all the traditional toppings you could ask for. It's comfort in a bowl and an absolute must-try for any ramen lover.

But Speakeasy Ramen doesn’t stop at just ramen. Carly brought our attention to a truly unique item: the JFC taco. Imagine crispy Japanese fried chicken (hence the JFC) wrapped in a soft taco shell, topped with tangy slaw and drizzled with a special sauce. It’s a delightful fusion that perfectly represents the innovative spirit of Speakeasy Ramen.

And we can’t forget the most popular item on the menu: the ribs. These aren’t your average ribs. They’re slow-cooked to perfection, fall-off-the-bone tender, and smothered in a sauce that’s both sweet and savory. It’s no wonder they’re a crowd favorite!

Carly also shared some fun tidbits about the building's history. The space where Speakeasy Ramen now thrives was once Nifty 50's, a local hangout that many Springfield residents remember fondly. This connection to the past adds a layer of charm and nostalgia to the dining experience.

Of course, what’s a great meal without a great drink? Speakeasy Ramen’s craft cocktails are the perfect complement to their delicious dishes. Carly highlighted a few favorites, including their signature drinks that are as visually appealing as they are tasty. Whether you’re a cocktail connoisseur or just looking for a refreshing drink to enjoy with your meal, their drink menu has something for everyone.

If you’re a sushi lover, make sure to mark your calendars for Sushi Wednesdays. This weekly event is a hit, offering a variety of fresh and flavorful sushi rolls that are sure to satisfy your cravings. We highly recommend the Bonita Roll- Avenue approved!

With the arrival of warmer weather, Speakeasy Ramen’s outdoor patio is now open, providing a wonderful spot to enjoy your meal al fresco. The patio is a fantastic place to soak up the sun, enjoy the vibrant atmosphere, and savor some truly exceptional food.

Our visit to Speakeasy Ramen was a delightful experience, and we highly recommend stopping by if you’re in the Springfield area. Whether you’re in the mood for a comforting bowl of ramen, a unique taco, or some mouth-watering ribs, Speakeasy Ramen has something that will make your taste buds dance. And with the added bonus of craft cocktails, sushi Wednesdays, and a lovely outdoor patio, it’s the perfect spot to enjoy a meal with friends and family.

Stay tuned for more adventures as The Avenue Group continues to explore local gems and share our experiences with you. Until next time, happy dining!

Watch the full interview HERE.

Speakeasy Ramen is located at 365 Ludlow Ave, Springfield, Ohio. For more info, visit www.speakeasyramen.com 

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

By: Alison North, Realtor & Team Lead

The real estate market data indicates a strong correlation between the metrics provided. 

First, the Months Supply of Inventory is at a low 1.02, indicating a seller's market where demand for homes exceeds supply. This low inventory level suggests that homes are selling quickly and competition among buyers is high. 

The 12-Month Change in Months of Inventory is also positive at +5.15%, showing a trend of decreasing inventory over the past year. This further supports the notion of a competitive market with limited supply.

The Median Days Homes are On the Market is incredibly low at just 6 days, reinforcing the idea that homes are selling quickly. This quick turnover time indicates high demand and strong buyer interest in the market.

The List to Sold Price Percentage of 97.3% demonstrates that homes are typically selling close to their listing price. This suggests that sellers are able to secure favorable offers and negotiate effectively in this market.

Lastly, the Median Sold Price of $165,000 reflects the average price at which homes are selling. This moderate price point combined with the quick selling time and high list to sold price percentage indicates a healthy and balanced market for both buyers and sellers.

Overall, these metrics paint a picture of a competitive real estate market with limited inventory, quick turnover times, and strong seller negotiation power. Buyers should be prepared to act quickly and potentially offer close to asking price, while sellers can expect to receive favorable offers in this market.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By Alison North, Realtor & Team Lead

Are you ready to turn your entrepreneurial dreams into reality? Starting a business can be an exhilarating journey filled with endless possibilities, but it often comes with its fair share of challenges, especially when it comes to securing the necessary financing. However, fear not! The Avenue Group recently caught up with Sabrina Tackett, Assistant Vice President of New Carlisle Federal Savings Bank, to gather some invaluable insights into the world of commercial loans and starting a business.

One of the first things Sabrina highlighted was the importance of tapping into resources like the Small Business Development Center (SBDC). These centers are treasure troves of knowledge, offering guidance, support, and resources tailored to help entrepreneurs navigate the complexities of starting and growing a business. From crafting a solid business plan to understanding financial projections, SBDCs are invaluable allies on your entrepreneurial journey.

But what about financing? This is where having a local lender on your side can truly make all the difference. Sabrina emphasized the significance of forging a relationship with a local bank or financial institution, stressing that they can offer personalized attention and tailored solutions that big banks often can't match. When you're just starting out, having a supportive lender who understands your vision and is invested in your success can be a game-changer.

Commercial loans are a vital lifeline for many aspiring entrepreneurs, providing the capital needed to cover startup costs, purchase inventory, lease space, and more. However, navigating the world of commercial lending can feel daunting, especially for first-time business owners. That's why having a trusted advisor like Sabrina in your corner can be so invaluable. She shared insights into the various types of commercial loans available, helping demystify terms like SBA loans, lines of credit, and equipment financing.

Moreover, Sabrina emphasized the importance of being prepared when seeking financing for your business. This means having a solid business plan in place, complete with realistic financial projections and a clear strategy for growth. Lenders want to see that you've done your homework and have a well-thought-out plan for how you'll use their capital to drive your business forward.

In conclusion, starting a business is no small feat, but with the right support and resources, it's entirely within reach. Whether you're just beginning to explore your entrepreneurial aspirations or you're ready to take the plunge into business ownership, remember that you don't have to go it alone. Reach out to organizations like the SBDC for guidance, and consider building relationships with local lenders who can help you secure the financing you need to bring your vision to life. With determination, perseverance, and the right support system, there's no limit to what you can achieve as a small business owner. So, what are you waiting for? Let's get started on turning your entrepreneurial dreams into reality!

*Watch the full interview with Sabrina here: VIDEO

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By: Alison North, Realtor & Team Lead

The real estate market is currently experiencing a high demand and low inventory situation, indicated by a Month’s Supply of Inventory of only 1.05. This means that if no new homes were to come onto the market, it would take just over a month to sell all existing inventory. 

The 12-Month Change in Months of Inventory is -5.41%, showing a decrease in the amount of time it takes to sell homes compared to the previous year. This indicates a trend towards a faster-paced market with increasing competition among buyers.

Homes are selling quickly, with a Median Days on the Market of just 14 days. This rapid turnover is likely due to the competitive nature of the market and the high demand from buyers.

Sellers are seeing strong offers on their properties, with a List to Sold Price Percentage of 98.4%. This means that, on average, homes are selling for 98.4% of their listing price, showing that buyers are willing to pay close to asking price for desirable properties.

The Median Sold Price in this market is $181,000, indicating that homes are selling at a moderate price point. Overall, these metrics suggest a competitive market with low inventory, fast turnover, and strong offers from buyers. Buyers should be prepared to act quickly and make strong offers, while sellers may benefit from the current market conditions and potentially see a quick sale at a favorable price.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By: Alison North, Realtor and Team Lead

The Avenue Group is excited to share our recent exploration of Springfield, Ohio's burgeoning new destination, The Metropolis. During our visit, we had the privilege of meeting with team members Amanda and Louie Ortega, who provided insights into The Metropolis's innovative concept, comprising Uptown, Midtown, and Downtown spaces.

Uptown will feature versatile office spaces and conference facilities available for rent, catering to diverse professional needs. Meanwhile, plans for Midtown are currently under development, with a focus on fostering a vibrant community ambiance conducive to social gatherings and recreational activities.

Downtown, the heart of The Metropolis, promises an enticing blend of culinary experiences, local markets, and boutique shopping—an urban oasis with a unique flair.

Situated at 102 W. High St. in Springfield, Ohio, The Metropolis occupies the historic Central Methodist Episcopal Church, embodying a fusion of heritage and contemporary vision. While an official opening is anticipated in 2024, timelines are subject to the progression of construction, permit acquisition, and regulatory approvals.

We look forward to witnessing The Metropolis's evolution and the transformative impact it will undoubtedly have on Springfield's cultural landscape.

Watch the full tour and interview: CLICK HERE

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!

By: Alison North, Realtor & Team Lead

As a professional in the real estate industry, it is important to understand the correlation between various metrics to provide valuable insights for both buyers and sellers. Let's analyze the February 2024 market data provided to gain a comprehensive understanding of the current market conditions.

Firstly, the Months Supply of Inventory is a key indicator of the balance between supply and demand in the real estate market. A low months supply of inventory (0.8) indicates a seller's market, where there are more buyers than available properties. This can lead to increased competition among buyers and potentially higher selling prices.

The 12-Month Change in Months of Inventory shows a significant decrease of -24.53%, indicating a trend towards even tighter inventory levels over the past year. This can further reinforce the seller's market conditions and potentially lead to quicker sales and higher prices.

The Median Days Homes are On the Market is 20, which is relatively low and suggests that properties are selling quickly in this market. This can be advantageous for sellers looking to make a swift transaction, while buyers may need to act fast to secure a property.

The List to Sold Price Percentage of 98.5% indicates that homes are selling close to their listing price, showing a strong negotiation power for sellers. This can be a positive sign for sellers looking to maximize their returns on investment.

Lastly, the Median Sold Price of $168,000 provides an insight into the average selling price of properties in the market. This can be valuable information for both buyers and sellers to understand the price range of properties in the area.

In conclusion, the data suggests a competitive real estate market with low inventory levels, quick sales, and strong selling prices. Buyers may need to act fast and be prepared to make competitive offers, while sellers may benefit from favorable market conditions to maximize their returns. It is essential for both parties to stay informed and work with a knowledgeable real estate professional to navigate this dynamic market effectively.

With over 20 years of combined experience, The Avenue Group offers exceptional service and knowledge of our local real estate market. Combined with the incredible network and resources of Glasshouse Realty Group, we offer our clientele an energetic work ethic with a detail-oriented approach. Call or text The Avenue Group real estate agents: Alison North 937-206-2273, Dara Errett 937-244-4136, or Maegan Benne 706-840-2466 to get started. Or visit our website AvenueOhio.com.

*Check out our Google Reviews! Or find us on Facebook, Instagram, and Youtube!