Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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How Healthy is the Cincinnati Real Estate Market?

filed under: Real Estate posted on September 8th, 2015

How healthy is the Cincinnati Real Estate Market?  No need for shock therapy as the month of August closes out and we head into the fall market.

August 2015 was ahead of the same month in 2014 in all categories, gross dollars, number of homes sold and average sale price.  Considering the lack of homes for sale- the continuing sales surge is a boost to the local economy.

HomeSearch

Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.

Cincinnati Real Estate

As the kids head back to school and the weather begins to change -the official summer market is coming to an end. During the past 3 years the average list versus average sale price for can be viewed in the chart below. As we head into 2015 the average list prices continued to rise until about June when a slight decline started.  Sellers with property not yet sold need to take notes on changes in their local market.

Real estate history

 

  2014   2015  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 250 $94,097 289 $87,953
Clermont 161 $105,716 165 $113,373
Hamilton 944 $169,718 882 $161,364
Warren 265 $151,295 248 $153,092

At the current pace sales and average sale prices for 2105 should exceed 2014. Everybody expects mortgage interest rates to go up – eventually so buyers and sellers still “thinking” about jumping into the real estate market need to move quickly in order to take advantage of lower rates.

Do you have questions about sale prices in your neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt

 

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