Cincinnati Real Estate Market Update
Cincinnati Real Estate Market Update
The real estate market update for Cincinnati contains both good and bad news for single family homes.
Overall it’s the same story line- too few homes for sale and lots of buyers still out house hunting. The latest numbers from the Cincinnati Area Board of Realtors show higher sales and average sale prices for the entire MLS during the month of September.
The average sales price for single family homes continues to outpace the same time frame when comparing the fist 9 months of 2015 to 2016. According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January- September of 2015 was $188,037 while this during the same time frame this year the price increased by +4.5% to $196,732.
Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.
All 4 counties sales volume and average sale price is higher than last year. As noted above the lack of homes for sale continues to cause problems for everybody-buyers, sellers, lenders, appraisers and agents.
[table “” not found /]Showing and listing activity has been very active during October. The beautiful weather and low mortgage interest rates had a positive effect on the local real estate market. The current real estate market continues to favor sellers- but with some listings are overpriced and continue to sit on the market. It’s only a win/win market for sellers who priced their properties to sell quickly. In short-price it right!
Do you have questions about sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt
