Condo sales continue to increase in all 4 counties of greater Cincinnati!
Just like the view from the top of the Carew Tower it appears that buyers are traveling the road to condo ownership through July 2013.
All the counties experienced increased sales volume in 2013 versus the same time frame in 2012- with Hamilton County showing the largest growth spurt.
And along with increasing sales volume, the average sale prices are significantly higher than last year.
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Since January 1st 1386 condos have sold/closed in the 4 county area with an average sale price of $134,970. Currently 1322 condos are on the market with an average list price of $154,388 and the “absorption rate” indicates about a 5.7 month supply of condos available for local buyers. The supply number equates to a “buyers market” but it could tip in favor of sellers with a few more closings. The interest rates as well the rising rental rates should push some more buyers into the market place during the next few months. However if buyer interest has peaked -it could slow both the overall sales volumes as well as lower average list prices.
Have questions about sale prices in different complexes – send a request for a full market evaluation.