Stats
Greater Cincinnati Real Estate Buzz
January 31st, 2012 categories: Pricing, Stats
The economy is up. The economy is down. Employment is up. Employment is down. Cincinnati real estate is up. Cincinnati real estate is down.
Same news, different day. However there’s life in the local Cincinnati real estate market and the stats for 6 zip codes throughout the market reflect a wide range of days on market and list prices:
| 90-day stats for Single Family properties in MASON, OH45040 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $322,273 | Average List Price: | $420,679 |
| Total Inventory: | 284 | Price per Square Foot: | $99 |
| Average Home Size: | 3,019 | Median Lot Size: | 16,767 |
| Average # Beds: | 3.82 | Average # Baths: | 3.05 |
| Homes Absorbed: | 11 | Newly Listed: | 11 |
| Days on Market: | 186 | Average Age: | 36 |
| 90-day stats for Single Family properties in WEST CHESTER, OH45069 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $231,426 | Average List Price: | $297,002 |
| Total Inventory: | 246 | Price per Square Foot: | $85 |
| Average Home Size: | 2,854 | Median Lot Size: | 18,339 |
| Average # Beds: | 3.71 | Average # Baths: | 2.89 |
| Homes Absorbed: | 10 | Newly Listed: | 9 |
| Days on Market: | 196 | Average Age: | 35 |
| 90-day stats for Single Family properties in FAIRFIELD, OH45014 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $150,529 | Average List Price: | $164,332 |
| Total Inventory: | 163 | Price per Square Foot: | $71 |
| Average Home Size: | 2,058 | Median Lot Size: | 14,504 |
| Average # Beds: | 3.37 | Average # Baths: | 2.30 |
| Homes Absorbed: | 7 | Newly Listed: | 6 |
| Days on Market: | 177 | Average Age: | 37 |
| 90-day stats for Single Family properties in HAMILTON, OH45011 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $176,127 | Average List Price: | $186,269 |
| Total Inventory: | 463 | Price per Square Foot: | $77 |
| Average Home Size: | 2,243 | Median Lot Size: | 17,171 |
| Average # Beds: | 3.45 | Average # Baths: | 2.32 |
| Homes Absorbed: | 19 | Newly Listed: | 18 |
| Days on Market: | 193 | Average Age: | 35 |
| 90-day stats for Single Family properties in CINCINNATI, OH45208 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $318,422 | Average List Price: | $429,092 |
| Total Inventory: | 137 | Price per Square Foot: | $152 |
| Average Home Size: | 2,222 | Median Lot Size: | 7,454 |
| Average # Beds: | 3.55 | Average # Baths: | 2.56 |
| Homes Absorbed: | 6 | Newly Listed: | 4 |
| Days on Market: | 223 | Average Age: | 25 |
| 90-day stats for Single Family properties in CINCINNATI, OH45233 as of February 17, 2012 | |||
|---|---|---|---|
| Median List Price: | $146,419 | Average List Price: | $200,478 |
| Total Inventory: | 84 | Price per Square Foot: | $67 |
| Average Home Size: | 2,283 | Median Lot Size: | 16,941 |
| Average # Beds: | 3.46 | Average # Baths: | 2.34 |
| Homes Absorbed: | 3 | Newly Listed: | 4 |
| Days on Market: | 245 | Average Age: | 49 |
Stay tuned for weekly updates or subscribe now or email me for specific information about your neighborhood.
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High Priced Real Estate in Greater Cincinnati
January 30th, 2012 categories: Sales, Stats
Number one question in real estate – What did that house or condo sell for?
And there is lots of interest in the high priced homes- as if the McMansion sales will help the rest of the market. High priced sales do reflect more confidence in the economy- so while not a scientific indicator of the local Cincinnati real estate market – comparing sales for the same time frame in 2012 to 2011 provides interesting information.
According to the Multiple Listing Service of Greater Cincinnati the top 5 single family home sales in Butler, Clermont, Hamilton and Warren for 1/1/-1/28 comparing 2011 to 2012-
January 2012 home sales, while lower in price, are spread all over the greater Cincinnati market and that is good news for sellers. 2011 sales were concentrated in Indian Hill and other high end areas were not getting the activity. It appears that 2012 is changing the trend.
Condo sales for the same time frame:
Prices are up slightly and city sales seem to be outpacing the suburbs.
Overall the greater Cincinnati real estate market is holding and seems to be gaining a little bit of steam as we start 2012. The great weather (no heavy snow) is helping. In order to keep track of progress I’ll keep track of the top 5 every 30 days or so.
However if you can’t wait a month or would like detailed information about your area-call or email today.
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Median Cincinnati Real Estate Prices
January 16th, 2012 categories: Sales, Stats
According to a report issued by the National Association of Realtors covering real estate sales across the United States- thing really are improving in the greater Cincinnati housing market!
Greater Cincinnati sales and median price has increased over the same time frame in 2010.
The median price rose $900 which doesn’t sound like much until you look at other locations where the prices have decreased by thousands of dollars. However I admit I cannot quite figure out what number NAR is utilizing in this report and the disclaimer at the bottom of the chart indicates that I may never be able to. Pulling stats from the Cincy MLS for single family homes sold between January and November of 2011 shows an Average List Price of $164,632 and Average Sale Price of $155,054. The Median List Price was $126,000 and Median Sale Price was $120,000. Not far off from NAR numbers -but sometimes I wish the economists would define the parameters so mere mortals could grasp what’s real and what isn’t.
If you’re in the market for a home or condo, currently selling or thinking about selling- have your agent pull current MLS data for the area and make an informed decision. The information from the Cincy MLS doesn’t require manipulation and a Phd in economics to understand.
Need help figuring out median and average list and sale prices for your area-feel free to call or email me.
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Weekly Greater Cincinnati Real Estate Buzz
January 10th, 2012 categories: Pricing, Stats
Buying a piece of real estate in greater Cincinnati or trying to sell your home or condo- then you need to know about pricing and days on market for 6 key areas around town. And if you don’t see your zip code or need more information, pick up the phone and call me or send an email.
Depending which part of town interests you- days on market jump around with no real correlation to median prices. The data in Cincy MLS is fluid with numbers changes constantly as inventory is added, deleted, reduced in price and sold- so it may day some time to follow trending on prices and days on market.
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It’s Time to Throw Out the Old Bath Water
January 5th, 2012 categories: Sales, Stats
Out with the old and in with the new!
Everybody is anxious to throw out the old bath water from 2011- but let’s be careful about tossing the good things along with the dirty water. The year has ended and this is the last look comparing condo sales volume in greater Cincinnati. 2010 and 2011 were so-so years for condo sales in the 4 county area – with Butler county shining as the sole winner with gross sales volume increase. On a high note, while overall volume is down…it’s not crashing into the ground sending up flames….something which it happening in many condo markets throughout the country.
The chart below is based on data pulled from the Multiple Listing Service of Greater Cincinnati:
Click here for 2009 vs 2010 year end.
The average sale price for 2011 was also impacted by the uncertain economy with ups and downs in the stock market and the still unknown long term impact of the foreclosures- and unfortunately 2012 appears to have many of the same issues.
| 2010 | 2011 | |||
|---|---|---|---|---|
| # Units | Avg Sales Price | # Units | Avg Sales Price | |
| Butler | 277 | $90,860 | 347 | $82,286 |
| Clermont | 199 | $115,028 | 177 | $106,010 |
| Hamilton | 953 | $159,293 | 899 | $144,079 |
| Warren | 327 | $150,346 | 287 | $135,652 |
So it’s ok to drain the tub and start the new year with fresh bath water and a new angle on how we look at the local real estate market. But some basics remain the same each and every year. If you want to sell your property it has to be priced right. And if you need help figuring out the “right price”- call me for assistance.
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