Real Estate Update for Greater Cincinnati
Focusing on the right information shows volume of home sales in 3 of the 4 counties in greater Cincinnati outpaces January of 2012!
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February Cincinnati homes sales of 2013 are outpacing same time frame 2012 in all 4 counties. According to data pulled from the CincyMLS, the gross volume of sales is ahead as the inventory of homes for sale continues to shrink.
Unfortunately sellers in Warren County continue to see a drop in the average sale price- but not in the number of homes sold.
| 2012 | 2013 | |||
|---|---|---|---|---|
| # Units | Avg Sales Price | # Units | Avg Sales Price | |
| Butler | 401 | $115,348 | 524 | $131,497 |
| Clermont | 221 | $148,461 | 259 | $156,268 |
| Hamilton | 838 | $134,648 | 964 | $149,286 |
| Warren | 229 | $209,330 | 257 | $193,907 |
And compared to last month’s report the stories about an improving house market seem to be on the mark-but don’t confuse rising sales and higher sales prices to mean that prices have returned to the highs of 6 years ago. The weather, mortgage rates, rising rental prices and economic news appears to have pushed more buyers into the real estate market- but with the low number of homes for sale- buyers lose interest quickly- hoping something might come along that meets their needs.
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