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Kathy S. Koops GRI

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Are Cincinnati June Home Sales Still Breaking Records?

filed under: Local Market Stats posted on July 15th, 2013

Yes-compared to last year local Cincinnati home sales continue to climb!

Cincinnati's Vibrant Real Estate Market

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Cincinnati home sales continue to surge ahead during the first six moths of 2013.. According to data pulled from the CincyMLS,

Cincinnati Home Sales 2012

Home sellers in all four counties continue to experience not only a rise in sales volume but also an increase in the average sales price.

  2012   2013  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 1643 $136,474 2053 $150,039
Clermont 945 $160,783 1114 $175,309
Hamilton 3557 $158,357 4221 $176,246
Warren 1076 $214,021 1255 $218,462

Buyer demand for houses and condos continues and while the average sale prices for single family homes in greater Cincinnati are better than last year- fears of the impact of rising mortgage rates sends some buyers for the sidelines.  In the past, to counteract the rise in interest rates- home prices have stabilized which helps to maintain monthly payments at the same level.  Rates have been so low for so long that many buyers thought they could wait for even better deals.  Now that the shock of rising rates have set in- the ready and willing group of potential home buyers are hitting the market and this may actually drive up prices in “hot neighborhoods”.

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