Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.
Yes, if you negotiate. Buyers have the upper hand in Lima right now.
You have the upper hand in Lima. Most homes for sale still have no buyer. Many sellers have already dropped their price once. Sellers are competing for you. Use it.
Only 71 out of every 100 homes for sale have found a buyer. The other 29 are still waiting. Your offer may be the only one on the table. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.
A typical Lima home takes 54 days to find a buyer. Half of them take even longer. That is 17% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 171 homes for sale in Lima. That is 2.5 times the tightest month on record, but below the peak of 408. Supply is shrinking against last year.
Asking prices are 17.4% below their Jun 2023 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Lima prices have risen in 83 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.
This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.
In Lima, 35 out of every 100 households rent. Most own their home. That share has held steady for five years. Renter households average 2.4 people. Two and three bedrooms fit the typical renter.
Households held flat in five years. The housing stock shrank 2%. Demand is outrunning supply. 8.2% of homes sit empty. That is normal for a healthy market.
The median Lima household earns $62,358 a year. Incomes here have grown 4.1% a year since 2019. Home prices have outrun incomes. Locals are being priced out. A typical home costs 3.1 times the median income. Locals can afford to buy here. Your exit buyer can be a family, not just another investor. A tenant on the median income can pay about $1,559 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.
That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.
Yes, if you negotiate. Buyers have the upper hand in Lima right now. 71 out of every 100 homes for sale have a buyer, 20% of sellers have cut their price, and a typical home takes 54 days to sell.
Asking prices are 17.4% below their Jun 2023 peak. You are not buying at the top. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.
Assume +7.1% a year. Lima has grown about 9.1% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices rose 15.2% over the last year. That is a timing signal, not a trend.
A typical Lima home takes 54 days to find a buyer. Half of them take even longer. That is 17% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.
In Lima, 35 out of every 100 households rent. Most own their home. That share has held steady for five years. 8.2% of homes sit empty. That is normal for a healthy market.
A tenant on the median income can pay about $1,559 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Lima household earns $62,358 a year.
Lima has six ZIP codes. Each links to its live market dashboard.
Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.
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