Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Are Sale Prices Rising for Greater Cincinnati Real Estate?

filed under: Real Estate posted on July 30th, 2014

The latest S/P Case Shiller report was release yesterday and the housing numbers look……ok!

Since the report covers 20 cities and Cincinnati isn’t on the list I thought I’d graph out the numbers for our local real estate market.

Data from: Multiple Listing of Greater Cincinnati

Cincinnati Homes

In 2005 the average sale price in greater Cincinnati was $191,355.  The financial crisis impacted us heavily in 2009 when the average sale price plummeted to $158,238.  2013 was a nice recovery year ending with an average sale price $177,354.  Not quite back to the real estate hey days- but certainly tracking in the right direction.

As reflected in the S/P Case Shiller index, price increases are slowing and looking at year-to-date (01/01/14-07/15/14) the average sale price is $175,063.  Since the has 5 months to go, the Cincinnati area may well surge ahead of last year’s average but we’re not certainly not back to 2005 prices.  So when you hear the real estate market is appreciating (and it is) don’t add the percentage to the imaginary home value you’re storing in your head.  It may take several more years until our real estate market makes a full recovery.

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