Cincinnati Real Estate

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Kathy S. Koops GRI

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Greater Cincinnati’s Priciest Listings

filed under: Real Estate posted on February 28th, 2014

What’s your greater Cincinnati property worth?
2581 Grandin

Well the owners of the “priciest listings” in Cincinnati feel their homes and condos are worth a lot.  The five highest priced single family and condos currently listed for sale in the Multiple Listing Service of Greater Cincinnati are:

Priciest Listings

Single Family Homes     Condos    
Indian Hill Hopewell Road $4,995,000 City Adams Landing $3,300,000
Hyde Park Elmhurst Place $4,500,000 Walnut Hills Edgecliff $2,100,000
Indian Hill Whispering Hill $3,699,000 City E. Central Parkway $1,495,000
Indian Hill Lakewood Lane $3,300,000 Mt. Adams Oregon $1,450,000
Anderson Ayers Rd. $3,100,000 Walnut Hills Luray $1,399,900

But no matter how much research and data your Realtor provides for you to review or what criteria you use to decide a list price -ultimately “buyers” really determine the true value.  According to the CincyMLS data shown below reflects what buyers are willing to pay so far in 2014.

Priciest Sales (1/1/14-2/26/14)

Single Family Homes     Condos    
Hyde Park Handasyde $3,300,000 Madeira Bradford Place $3,300,000
Mt. Adams Fort View Place $1,325,000 Madeira Bradford Place $2,100,000
Indian Hill Green Meadow Lane $1,300,000 Hyde Park Erie $1,495,000
Indian Hill Tupelo Lane $1,255,000 Walnut Hills Alpine Place $1,450,000
Indian Hill Kugler Mill $1,225,000 City Pike Street $1,399,900

If you just look at the numbers there’s a  disconnect between the home owner’s perceived value and what buyers actually are willing to pay.  The usual way for the real estate market to handle  “the disconnect” is for sellers to make price adjustments or make the decision to sell at some other time.  Some sellers stay the course, sticking to a small price changes in hopes the housing shortage will motivate buyers to raise their offers.  Bidding wars usually occur on well priced new listings not on properties that have been on the market for an extended period of time.

Real estate market watchers are predicting a softening for home sales but the greater Cincinnati area can boast 15 properties marked as pending sales (sold but not closed) over a million dollars since the beginning of the year. If we continue to have a balanced sales covering all the price ranges, our local real estate market may continue to recover at a slow and steady pace.  Who knows how high or low the priciest listings will be during 2014.

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