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Home > Blogs > Butler County News and Issues > Archives > 2008 > September > 05 > Entry
MLS: Property values down
While property value assessments are going up 5.95 percent on average countywide, home sale prices dropped an average 5.4 percent countywide, according to the Multiple Listing Service of Greater Cincinnati.
More specifically, the value of the average home in Hamilton dropped 1.9 percent to $113,986 in Hamilton and went down a staggering 18.1 percent in Middletown to $83,716. The average home value did go up in West Chester Twp. 7.2 percent, leaving it at $257,913.
For a full breakdown, click on the thumbnail on the right to enlarge it.
So why the difference?
Several reasons. The MLS numbers, for example, take into account HUD homes, sheriff’s auctions and foreclosures, which bring down average values considerably.
But regardless of the “countywide average” County Auditor Roger Reynolds insists his appraisals are a conservative estimate of actual values. He said when he checked appraisals against homes for sale, the appraisals always came in below the asking price.
How has your home’s value fared in recent years?
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