Greater Cincinnati real estate activity is churning lots of spring time sales.
Checking out activity in various zip codes in and around greater Cincinnati shows median sales prices rising in several zips. However, areas with tthe most affordable condos are struggling to maintain a higher price point. Out house hunting over the weekend…current number of active listings for single family homes 7052 and the number of available condos – 1021 reflects a real estate market with not enough properties for sale.
According to the Multiple Listing Service of Greater Cincinnati:
So far the Feds are holding the current interestrates-but sooner or later -rates are going to rise. Even a .25% interest rate increase can squeeze many potential buyers out of their next move. Pricing to sell and getting qualified for a mortgage before you start shopping remain the #1 and #2 “to do’s” in the current Cincinnati real estate market. Other things to remember- the home or condo that just came on the market today could be sold while you’re “thinking” about looking at it or writing an offer.
Stay tuned for market updates.