Cincinnati Real Estate

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Kathy S. Koops GRI

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Greater Cincinnati Condo Buzz

filed under: Real Estate posted on March 9th, 2015

The greater Cincinnati condo buzz covers a slightly bumpy market during the first 2 months of 2015.

Good and so-so news where the condo sales volume was higher in 2 counties when comparing the first 2 months of 2014 to 2015.    According to the Multiple Listing Service of Greater Cincinnati:

Cincinnati Condos Sales

 

Part of the up and down numbers is also impacting the average sale prices.  Condos sold in Butler County took a huge dip in the average sale price (-15%) -compared to same timeframe last year.  Warren County, while slightly lower (- 3%) than last year will probably make up ground in the nexr few months.

  2014   2015  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 45 $91,776 74 $77,755
Clermont 36 $95,849 25 $119,654
Hamilton 174 $166,877 161 $176,498
Warren 37 $146,947 42 $142,939

Comparing all the condo sales in the Multiple Listing Service of Greater Cincinnati  (the CincyMLS covers areas above and beyond the four county area)  reflects a drop in the average sale price for the entire area from $142,554 in 2014 to $141,131 in 2015.  However the both the number of condos sold as well dollar volume continues to out perform last year.

Now that the snow has melted-condo owners need to make sure management companies are taking care of the grounds, picking up trash and filling in potholes.  Prospective buyers may decide against buying your unit because the complex appears to be in disrepair.   And of course smart pricing of any listing remains critical in this real estate market.

Have questions or want to start condo hunting now– Txt or call: 513-300-4090,by Subscribe to stay up-to-date on market trends.

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