Greater Cincinnati Condo Market Update
Condos for sale in Cincinnati, Ohio have felt the impact of stiffer mortgage regulations-but sales continue to close!
If the information below is not detailed enough or if you are considering buying or selling your condo- call for detailed market analysis. Or make it easy and just Subscribe.
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Last month gross sales volume in Butler and Clermont Counties was lower in 2012 than 2011- and this month the trend continues.
Though the gross sales volume is down, the average sale price in 3 of the 4 counties is ahead for the same time frame in 2011.
| 2011 | 2012 | |||
|---|---|---|---|---|
| # Units | Avg Sales Price | # Units | Avg Sales Price | |
| Butler | 243 | $85,047 | 222 | $86,968 |
| Clermont | 122 | $106,260 | 127 | $98,568 |
| Hamilton | 614 | $143,777 | 696 | $140,380 |
| Warren | 188 | $134,203 | 220 | $131,612 |
FHA mortgages have been much harder to secure and the impact on the condo market will continue until the new guidelines are implemented. Once FHA eases up and grants approval to complexes around greater Cincinnati, potential buyers will begin to buy again.
Until then if you have questions or concerns -remember each complex/community is unique so if you’re considering the possibility of selling -consult with your Realtor and review the current numbers for your piece of real estate….or send a request for a market evaluation.
