Getting to the root of the local Cincinnati real estate market….
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According to the Multiple Listing Service of Greater Cincinnati potential buyers have 8859 single family homes and 1345 condos available for sale- a drop from the last report. Compared to the last zip code report, the median price on single family homes has dropped in 4 of the 6 zip codes and for condos remained even or dropped in 4 zip codes.
Buyer activity has picked up and the number of showings as well as potential buyers wandering through open houses remains strong. While many sellers discount the chance of selling during the holiday season…the truth is that many of the buyers house hunting right now are highly motivated and will probably buy before the end of the year. Keep that in mind when thinking about listing your property for sale. Continued good news as the Fed signals their intent to keep interest rates low for the foreseeable future. The low interest rates increases the pool of potential buyers and also helps other businesses like Home Depot, Target, Lowes and other local stores because purchasing a home or condo usually motivates updating and upgrading of the properties.