Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Is Cash King in the Greater Cincinnati Real Estate Market?

filed under: Real Estate posted on January 31st, 2014

In 2013, according to the Multiple Listing Service of Greater Cincinnati, 22,982 single family homes and/or condos were sold and closed.  In nearly 30% of the deals or 6,859 closings, the buyer paid cash!

While the number appears to be high, Keeping Current Matters reviewed data published by CoreLogic and presented the data to members and as you can see, cash home sales in the Greater Cincinnati area are following national norms.

All Cash Real Estate Sales

Keeping Current Matters using CoreLogic

Nationally cash sales account for 37.4% of the real estate sales.  In Ohio 41% -so while Cincinnati has its fair share of cash buyers -we’re by no means ahead of the pack.  This is both good and bad.  Investors are usually cash buyers going after distressed properties- so we must have fewer of the those to sell.  The bad news is that every seller dreams of a finding a cash buyer- and our area has fewer available.

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