As downtown Cincinnati revitalizes itself will the area housing market also shine in 2013?
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If only we could look through the window and see exactly what’s going to happen with Cincinnati homes for sale during the next few months…I could be a millionaire. Measuring buyer traffic reflects a significant increase in Open Houses and Agent showings. Traffic doesn’t guarantee offers- but the increase may help spur interest of other buyers in the marketplace. Two sets of buyers looking at the same house at the same time is a great motivator!
And yet new listing of condos and homes continues to shrink and according to the Multiple Listing Service of Greater Cincinnati potential buyers have 8141 single family homes and 1356 condos to wander through- but not enough new properties are coming up for sale to generate a buzz of interest. Also compared to last report, the local Cincinnati real estate market is experiencing a decline in the median list prices in many of the zip codes.
Open houses last weekend were slow due to “snow” and the “Superbowl”. However agents setting appointments to show properties around town continues to increase slightly each week. This is the time of year when sellers need to keep your driveways and walkways as snow and ice free as possible.
Many agents are dealing with multiple offers (more than one offer at the same time- on the same property) so agents, sellers and buyers cannot “disappear” while negotiating a purchase offer.
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