Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

Contact Me Today. Let's Work Together.

Are Condos Selling in Greater Cincinnati?

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

Sellers always ask-are condos selling in greater Cincinnati?

HomeSearch

The first quarter data on condos provides good news for Butler and Clermont Counties but the dollar volume in Hamilton and Warren Counties lags behind the first quarter of 2014.  According to the Multiple Listing Service of Greater Cincinnati:

March Condo Sales Cincinnati

The numbers can be somewhat misleading.  Butler County condos to another nosedive in average sale prices but took a huge jump in the number of units sold.  The other 3 counties sold fewer condos- but the average sale price increased.

  2014   2015  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 72 $92,824 121 $80,353
Clermont 51 $94,072 49 $112,376
Hamilton 292 $154,338 270 $164,793
Warren 73 $143,298 70 $146,353

Condo sales 2014 versus 2015 in the 4 county area reflects a small increase in the average sale price and a slightly higher number of condos sold.  March was a great sales month for the greater Cincinnati real estate market.  Cetain pockets and complexes are experiencing a much higher average sales price- the boom is not hitting every area.  Many condo sellers have to overcome buyer concerns over how the Home Owner’s Association operates and whether the monthly condo fees will cover future repair expenses.  Add to road blocks -many complexes have given up trying to obtain FHA approval which makes obtaining a mortgage somewhat harder for potential buyers.

As the spring market heats into summer new marketing strategies may be needed to get your condo sold and closed. Questions about sale prices in your complex send a request for a full market evaluation.
Call/Txt

Comments are closed.