Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Cincinnati Real Estate Update

filed under: Real Estate posted on May 27th, 2015

The Cincinnati real estate update highlights rising median prices for sellers of single family homes and slightly falling condo prices.

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According to the Multiple Listing Service of Greater Cincinnati:

Cincinnati Updates 052615

Out house hunting over the Memorial Day Weekend..and you know the current number of active listings for single family homes 7488 and the number of available condos – 1045 reflects a continuing trend of areal estate market with not enough properties for sale.

The lack of inventory is begining to drive the average sale price higher.  Information pulled from Cincy MLS comparing single family homes list prices to the average sale prices for the 4 county area shows the trend:
Cincinnati Real Estate Prices

It’s easy to see that buyers are quickly snapping up homes.  While condos continue to sell the chart below reflects that sellers are not experiencing the same level of attention from buyers:

Cincinnati Condo

Both charts indicate the importance of finding the “sweet spot” when it comes to pricing your property.  Too few homes and condos available for sale will continue to impact local real estate prices.  Our problem is not unique -it seems many markets are experiencing the same problems.  It’s not unusual to hear about buyers knocking on doors in their preferred neighborhoods -looking for somebody willing to sale.

Stay tuned for market updates or Call/Txt

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