NorthPointe Group Real Estate Development and Investment

Dayton Permits Up 36% Year to Date

2012-04-20 16:13

New construction single family permits increased 118% in March 2012 compared to February 2012 in the 5 county Dayton region which consists of Darke, Greene, Miami, Montgomery and Preble counties. Comparing March 2012 (83 permits) to March 2011 (65 permits), permits are up 28%. Comparing single family permits issued during the first quarter of 2012 (177) to the first quarter of 2011 (129), permits are up 36%. The 12 month trailing average for single family permits continued to rise to 59.6 permits monthly.

NPG DataQuest offers permit and closing information by school district, political jurisdiction, MLS area and zip code. In addition, on the ground activity is tracked for over 900 active subdivisions providing lot and home inventory status. For more details on this information, contact Maureen McDermott at (513) 404-6481.

March 2012 Greater Cincinnati/NKY Permit Update

2012-04-13 13:59

New construction single family permits rose 36% in March 2012 compared to February 2012 for the 7 county Greater Cincinnati/NKY region. 192 permits were issued in March versus 141 issued in February 2012. However, single family permits issued during the first quarter of 2012 are down 6.6% when compared to the same period in 2011. The primary cause of the first quarter 2012 decline was a 45% drop in permits issued in Hamilton and Boone counties in March of 2012 compared to March 2011. All other counties remained relatively even or up from 2011 year to date totals. The 12 month trailing average is down slightly to 176 permits.

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Condominium Price Distribution Curve Remains Consistent

2012-04-13 13:55

Closing price distribution curves are depicted below for the 7 county Greater Cincinnnati/NKY region condominium sales for the years 2009-2011 within developments tracked by NPG DataQuest. Sale have declined each year from 2009, however the curve has remained consistent. The median price for years 2009,2010, and 2011 was $161,456, $149,300, and $160,000 respectively. The majority of sales were within the $125,000 to $175,000 price point.

New Home Closing Prices Edge Higher

2012-03-30 14:16

Closing prices for new single family homes in the 7 county Greater Cincinnati/NKY region have steadily climbed over the past three years. The price distribution graph depicts curves for the past three years which look somewhat similar with the exception of the curve for prices over $300,000 and higher. The curves for 2010 and 2011 are higher than or equal to the two previous years on a lower annual sales volume. This indicates that as a percentage of the overall home closings, a larger number of closings occurred in the higher price ranges in 2010 and 2011. Homes priced over $300,000 in 2011 comprised 33% of the homes closed in communities tracked by NPG DataQuest; up 4% from 2010 and up 8% from 2009. The “Owner Financed” category on the graph identifies that the buyer obtained a construction loan to finance the house. These closings were included in the over $300,000 category for this analysis.

Large Volume Builder Market Share Declines

2012-03-23 12:09

The share of single family building permits issued to the top ten builders in the Greater Cincinnati/No. Kentucky region has declined since NPG DataQuest began tracking permits in January of 2009. 62% of the permits issued in 2011 were to the top ten builders in the market. This is down 4 percentage points from 2009. The top 5 builders were issued 51% of the single family permits in 2011; down 3 percentage points from 2009.

February 2012 Dayton Area Permit Update

2012-03-16 11:49

New single family permits declined 22% in February 2012 compared to January 2012 in the 5 county Dayton region consisting of Darke, Greene, Miami, Montgomery and Preble counties. While permit numbers are down for February compared to January one should keep in mind the Fort McKinley redevelopment effort in Montgomery County accounted for 20 of the permits issued in January. Comparing February 2012 (38 permits) to February 2011 (31 permits), permits are up this February by 22%. Single family permits issued during the first 2 months of 2012 (94) is up 45% when compared to the first 2 months of 2011. The 12 month trailing average for single family permits continued to rise to 58 permits monthly.

If you find yourself downtown for St. Patricks Day please join Maureen McDermott as she displays her artwork of both Ireland and Over-the-Rhine at the "Ireland Meets OTR" event from 4-8 in the Japps Annex at 1136 Main St.

Cincinnati Area Single Family Permits Increase for 3rd Consecutive Month

2012-03-09 14:21

New single family permits rose 13% in February 2012 compared to January 2012 for the 7 county Greater Cincinnati/NKY region. 145 permits were issued in February versus 128 issued in January and 110 issued in December 2011. Single family permits issued during the first 2 months of 2012 are up 3.4% when compared to the same period in 2011. The largest increase was in Warren County which saw a 52% monthly increase in permit activity in February 2012 with 47 permits issued compared to 31 issued in January 2012. The 12 month trailing average was up slightly to 179 permits.

Cincinnati Area Median Home Prices Continue to Rise

2012-03-02 15:12

Median closing prices for new single family homes in 2011 increased 3.2% over the 2010 median price for the 7 county Greater Cincinnati/NKY region. The median price for 2011 new home closings in NPG DataQuest tracked developments was $222,873 compared to $215,925 for 2010. Clermont and Warren counties saw the largest increases with a 7% rise in median price in 2011 as compared to 2010.

Since 2009 the median price for the 7 county region has increased 7.7%, with Campbell and Warren counties both showing the highest median price increases at 18.5%.

January Permits Up in Dayton Market

2012-02-24 08:58

New single family permits rose 4% in January 2012 compared to December 2011 in the 5 county Dayton region consisting of Darke, Greene, Miami, Montgomery and Preble counties. Single family permits issued during the first month of 2012 (56) is up 64% when compared to the first month of 2011. While permit numbers are up overall, the Fort McKinley redevelopment effort in Montgomery County accounted for 20 of the permits issued in January. The 12 month trailing average for single family permits continued to rise to 57 permits per month, the highest level since NPG DataQuest began tracking the Dayton Market.

High End Home Starts Up 35% in 2011

2012-02-17 14:57

New home starts in high-end communities in the 7 county Cincinnati/NKY region increased 35% from 2010 levels. In 2011 there were 279 starts in NPG DataQuest tracked developments with a median price point of $400,000 or more versus 207 for 2010. This confirms the sentiment we’ve been hearing that activity in the higher price ranges has picked up over the last year and it seems to be gaining momentum. Below are the top 5 communities in 2011 based on starts where the median community price is over $400,000.

Development	Municipality	Price	Starts
Carmelle	Mason	$449,000	19
Eagles Watch	Anderson	$574,000	16
Long Cove	Mason	$1,000,000**	11
Cottage Hill	Cincinnati	$457,500	11
Glenview Farm Estates	West Chester	$534,770	10

**Some closing prices were estimated due to owner financed construction