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As the number of listings for homes and condos continues to shrink. According to the Multiple Listing Service of Greater Cincinnati potential buyers have 9248 single family homes and 1454 condos available -another slight increase in the number of available properties. In order to help both buyers and sellers understand the difference in the local real estate market- in 2012 (1/1/12 thru 6/20/12) 7390 single family home sales closed with an average sale price of $152,957 and 841 condos with an average sale price of $124,050. This year during the same time frame 8756 single family homes closed with an average sale price of $164,501 and 1071 condos averaging $132,618. Typically real estate activity slows down in July because due to summer vacations-so don’t be alarmed if open houses aren’t swarming with visitors.
Compared to the last zip code report the local Cincinnati real estate market prices continue to bounce up and down.
Sizzling or simmering the Cincinnati real estate market continues to have “hot spots” with many buyers bidding for the same property -but the majority of the market continues to simmer -with the best priced properties getting snapped up quickly.