Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Average Home Sale Prices by Neighborhood

filed under: Real Estate posted on July 7th, 2015

Cincinnati sale prices

Has the average home sale prices in your greater Cincinnati neighborhood risen or dropped during the past 12 months?

Using data from the Multiple Listing Service of Greater Cincinnati comparing the average sale prices for single family homes for the same 6 month period in 2014 to 2015 -most neighborhoods enjoyed a bump in prices.  The prices below cover 1/1/14-6/30/14 vs 1/1/15-6/30/15.

Neighborhood 2014 Avg Sales Price 2015 Avg Sales Price
Anderson Twp $257,801 $272,533
City $160,849 $311,781
Clifton $185,817 $207,647
Colerain Twp $110,435 $115,401
Deer Park $109,301 $119,671
Delhi Twp $118,352 $122,914
Fairfield $141,620 $152,928
Glendale $251,314 $339,309
Green Twp $137,907 $158,728
Hyde Park $477,317 $475,364
Liberty Twp $260,518 $269,553
Madeira $297,233 $322,082
Mason $328,936 $333,076
Montgomery $386,731 $434,626
Norwood $93,507 $107,410
West Chester $243,806 $255,476
Wyoming $313,013 $322,187

The biggest winner this year is the city of Cincinnati with more than a 50% jump in the average sale price.  During the first 6 months of 2014 City-Cincinnati had 24 deals close- 3 of those were on newly constructed single family homes.  Of the 24 closed 23 sold at or below $300,000.  The first 6 months of this year -16 closings ( 2 new construction) and 9 of the closings were for properties selling at or above $300,000.  The downtown area continues to attract buyers at all price ranges looking for homes and condos.

On the flip side Mason was the only area with a slight drop in the average price-but the amount was so small that’s it hardly worth mentioning.

Overall in the 4 county area the average sale price for single family homes during the first 6 months of 2014 was $181,788 versus $193,488 in 2015.  The greater Cincinnati real estate market continues to inch its way forward each month.  The continued low interest rates help- but we are still experiencing a very low number of homes (and condos) for sale.  Motivated sellers hitting the market at the right price are often surprised at how fast buyers are writing contracts.

 

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