Greater Cincinnati Real Estate March Madness

Cincinnati Real Estate March Madness

March Madness is over and it’s time for a quick review of the first quarter results for the greater Cincinnati real estate market.

What’s the real estate score for you neighborhood?  Reviewing actual sale prices for single family homes only matters when you’re actually thinking about putting your house on the market.  What the house down the street 2 years ago is not relevant to today’s buyers.  They compare what’s sold recently around your house,  then look at the competition and make a decision on what they perceive as the best value for them.

In order to provide some idea about sale prices I pulled information from several areas throughout Cincinnati. The chart below reflects the average sales price and the highest sales price. The prices are for single family homes which closed between 01/01/14 thru 03/31/14 (Data from the Multiple Listing Service of Greater Cincinnati.)
Cincinnati real estate -first quarterCincinnati real estate -first quarter

And if you compare recent sale prices to average sale prices for the first quarter of 2013 -some areas have experienced significant changes:

Comparison 1st Qtr 2013 vs 2014

The swing in the average sale prices comparing the 2 first quarters shows an increase in Hyde Park of $185,265  while Glendale average sale price dropped $118,125.  I think a lot of the ups and downs can be traced back to the lack of homes for sale and in the case of Hyde Park and Glendale – a few home sales can increase or decrease the averages by a lot.  Each area and neighborhood is unique- to get the stats for your property  Call: 513-300-4090, or by email.