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Is Your Condo the Right One for Greater Cincinnati Buyers?

filed under: For Sellers posted on February 4th, 2013

There are lots of Cincinnati condos for sale and finding and targeting the right buyer can be a game of “cat and mouse”!

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.cincinnati homes for sale

MCat and Mouse in Cincinnati Real Estate

Sometimes the best way to “catch” the mouse in the current real estate market is take a quick look at what the price “average cats” were able to sell their condos  around greater Cincinnati.  According to the CincyMLS  in 2012, 1916 condos sold/closed within the 4 counties serving our area. (Butler, Warren, Hamilton and Clermont)  The average sale price was$128,020 and 165 was the magic number for average number of days on the market.  So if you’re currently trying to sell your $100,000. condo and it’s been on the market for a year- what gives?

Selling time and average price are impacted by lots of things:

  • Competition
  • Condition
  • # of Bedrooms
  • Interest Rates
  • Mortgage Worthiness of Complex

Last year sellers in Warren County sold 333 condos with an overall average sale price of $140,861.  However pricing was impacted by number of bedrooms and the chart below (all data for all the charts pulled from CincyMLS)

County Condo Sales for 2012

No surprise- 2 bedroom condos were the big seller in 2012 and pricing/financing usually plays into what size units buyers can afford.  And as you look at the numbers for the other 3 counties, 2 bedroom units swept the “best selling” category.

Clermont County Condo Sales in 2012

Hamilton County had the highest number of sales with almost 3 times as many 2 bedroom as 3 bedroom units changing hands.

Hamilton County Condo Sales for 2012

And finally Butler County which had the only sales for 5+ bedroom condos- a very unique commodity in our marketplace.

Butler County Condo Sales for 2012

Looking at the “days on market” all the counties -but Butler- 3 bedroom condos sold in a shorter time frame than 2 bedroom units.  In many locations investors are snapping up 2 bedroom units to use as rental income which brings up the point of the ability of buyers to obtain a mortgage.  Lending guidelines have impacted complexes with too many rentals or problems with HOA reserves/funds- so ask you agent about the status of FHA\VA  mortgage funding prior to making a decision to sell.

Want feedback about the condition of your condo (or house) and more details about competition -Click here to to Call: 513-300-4090,by email

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