Real Estate Activity in Greater Cincinnati, Ohio

Looking at all the reports on the local real estate market in greater Cincinnati can leave both buyers and sellers wondering about the missing pieces of the picture.

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Local home (and condo) listings tell 2 different stories.

As the number of listings for homes and condos continues to shrink. According to the Multiple Listing Service of Greater Cincinnati potential buyers have 8917 single family homes and 1395 condos available -another very slight decrease in the number of available properties.  The shrinking number of properties for sale has many sources touting the current market is tipping toward sellers.  This is true if you are discussing a well priced listing- sellers may not to make as many concessions.  However, lots of sellers are sitting on overpriced properties wondering where are the buyers.  The same is true for buyers- newly listed, well priced properties are selling rapidly.  Low ball offers, unapproved buyers or purchase contracts asking for a car to be left in the garage (or maybe the lawn mower) find themselves negotiated out of some great deals.

Compared to the last zip code report the local Cincinnati real estate market is experiencing an decrease in the single family median list price in 3 of the 6 of the areas and and an increase in 2 zip codes for condos.

Cincinnati Real Estate Weekly Update 060413

One thing is clear -home buyers are breaking records and May will probably end up as one of the best months we’ve experienced in years….but interest rate fluctuation, lack of new listings of condos and single family homes and the beginning of summer vacations will either make June a fabulous month for sales or not quite good enough to keep pace with May.  Stay tuned!

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