Condo sales in greater Cincinnati are consistent

According to the Multiple Listing Service of Greater Cincinnati, comparing 2008 to 2009 condo sales in greater Cincinnati indicates condo buyers are making deals. Both sales volume and prices remain lower than 2008- but the numbers reflect a steady stream of buyers in the market.  

The extension of the First Time Home Buyer credit as well as a credit for resales- may help sustain the market through the coming months.

Questions or comments- call or email…or feel free to leave a comment.

Related Article:  Report for Previous Month

According to the National Association of Realtors the results of the NAR Survey indicates that first-time home buyers are fueling the real estate market.

• 47% of all Americans who purchased a home this year had not previously owned one during the previous 3 years
• The rate for first-time buyers has increased from 41% in 2008 and 36% in 2006.
• The first-time buyer tax credit (now in effect for contracts written prior to May 1 2010) gives a credit up to $8,000 which can be deducted from income taxes.

Sellers thinking about waiting until the spring market should evaluate the impact of first-time home buyers and may decide to list now.  Questions or concerns about the local real estate market- let me know.

Related Articles:  First-Time Home Buyers-CNN Money;  Real Trends

People want to know what is happening in real estate throughout greater Cincinnati area.   For a quick look at Market Action Reports by zipcode see below:

45011

45014

45040

45069

45208

This is the short version of the detailed information available for the zipcodes- call or email if you would like the details.

Related Articles:  Last Week’s Numbers

The number of active listings in Fairfield and Fairfield Township is shrinking!

According to the Multiple Listing Service of Greater Cincinnati real estate activity is shown below:

Data from Greater Cincinnati Multiple Listing Service

Data from Greater Cincinnati Multiple Listing Service

Sellers in Fairfield sold/closed 66 single family homes and 11condos during September while Fairfield Township sold/closed 22 single family homes and 3 condos. Fairfield was on fire with closings- but pending sales are down so I don’t expect the record pace to continue. The list/sale prices in Fairfield appear to be in sync while the list prices for single family homes in the township have increased (slightly) while the sales prices have decreased (slightly).  This type of split leaves homes on the market for an extended period of time until buyers and sellers agree on the “real price”.  Unfortunately the longer a property sits on the market-the lower the perceived value. 

If you are thinking about buying- call or email me now..

Related Articles:  September Stats;  Updated Home Buyer Credit Information

Prices of real estate in Mason are dipping!.

According to the Multiple Listing Service of Greater Cincinnati:

Data from Greater Cincinnati Multiple Listing Service

September data indicated 22 single family homes and 11 condominiums closed-a slight decline from September.  And while list price for active listings dropped, the closed prices increased slightly.  Additional good news is the reduction is the number of active listings for single family homes.  Reduction in inventory numbers could lead to a slight increase in sales price- however if your home has been on the market for months-you will still need to examine condition and pricing before enticing buyers to write a contract.

Thoughts or questions, comment, email or call.

Related Articles:  September Stats;  Updated Home Buyer Tax Credit Information