Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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October 2017 Cincinnati Real Estate Update

filed under: Real Estate posted on November 14th, 2017

October 2017 Cincinnati real estate update.

The dollar volume in sales for all four counties during through the end of October 2017 continues to outpace sales compared to same time frame last year.  The current average sale price for single-family homes in greater Cincinnati is $207,158 compared to 2016’s $196,906.  A 5.% increase.

According to the Cincinnati Multiple Listing Service has 4810 homes listed for sale down slightly from last month.

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Sales volume comparing year-to-date in the 4 counties below.  Data pulled from the Multiple Listing Service of Greater Cincinnati:
Cincinnati home sales
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 3947 $186,596 3808 $193,524
Clermont 2341 $197,385 2279 $210,424
Hamilton 8543 $200,900 8491 $212,279
Warren 2531 $254,210 2264 $268,379

What does this mean? 

Graph on cincinnati home sales

The number of new listings is down -2.4% from last month but up 5.9% from October 2016.  But the greater Cincinnati real estate market is still suffering from a shortage of homes for sale.  Interest rates are low and buyers are waiting for new listings to hit the market -at the right price.  Some sellers still believe they can overprice and sell.

The final note on October 2017 home sales in Cincinnati update:  

  • The “holidays” have arrived.  Waiting until after the holidays could cost both buyers and sellers money if interest rates rise.
  • Sellers need to reduce overpriced properties now!  
  • Don’t believe what you see on HGTV- using reasonable negotiating skills to make a deal usually results in a sale.

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

 

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