Seasons change but many things in the greater Cincinnati real estate market remain the same.
If the information below is not detailed enough or if you are considering buying or selling your house or condo- call for detailed market analysis. Or Subscribe.
Leaves are beginning to drop off the trees and bushes and in real estate- just like weather the seasons come and seasons go but the lack of new inventory- of both single family homes and condos continues to discourage buyers from getting off the couch and buying property. Imagine the neighborhood squirrel scrambling to build up a supply of nuts for winter and not able to find enough to bury.
The shrinking supply of newly listed homes and condos is having a negative impact on today’s buyers.
Last week’s report showed inventory was down and this week it drops even lower with number of single family homes dropping below 10,000 to 9873 active listings and 1561 condos listed for sale in the Multiple Listing Service of Greater Cincinnati. The decline in the number of new listings taken each month dropped in August and will most like drop even more in September.
Looking at 6 zip codes, the prices for condos and single family homes continues to bounce up and down…or in the case of 45014- once again stuck at the same median price for weeks and weeks....and weeks.
Missing your zip code, neighborhood? Detailed report available -click here.