Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Cincinnati Home Sales Update

filed under: Real Estate posted on June 19th, 2017

Cincinnati single family home sales update for first 5 months of 2017. 

(Read the latest report from the Cincinnati Area Board of Realtors published June 21st)

Sales in all four counties continue to outpace sales compared to same time frame last year.  The current average sale price for single family homes in greater Cincinnati is $197,528 compared to 2016’s – $186,072 covering sales through the end of May- 6.0% +/- increase.

According to the Cincinnati Multiple Listing Service has 4749 homes listed for sale.

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Sales volume comparing year-to-date in the 4 counties below.  Data pulled from the CincyMLS.

Cincinnati single family home sale

 

The CincyMLS covers all the surrounding counties (as far north as Dayton) and sale prices do vary by areas.  Average sale prices continue to climb in all four counties but the shortage of homes for sale continues to cause problems.

  2016   2017  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 1705 $177,412 1735 $183,118
Clermont 1001 $190,432 965 $199,440
Hamilton 3737 $188,974 3862 $201,027
Warren 1004 $239,208 1093 $262,365

What does this mean? 

Buyers are getting discouraged.  The average list price continues to climb but the average sale price is not escalating at the same rate.  Sellers may need to rethink their spring pricing strategy as summer drags on.  Buyers waiting for a better deal may be out of luck unless they are willing to bid high and fast for newly listed properties.  

Cincinnati reale estate.

 

Final note on Cincinnati home sales update:  homes on the market for an extended period of time are probably overpriced and need to adjust prices.  Inspections are still a problem so consider having your property inspected before it’s listed and fixing what’s broken so buyers are willing to pay top dollar.

Questions real estate in your city or neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt

 

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