Cincinnati Real Estate

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Kathy S. Koops GRI

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Are Home Prices Rising or Falling in Greater Cincinnati?

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

Cincinnati real estateAre home prices rising or falling in greater Cincinnati?  Only 2 of the 17 neighborhoods listed below do not have higher average sale prices in 2015.

Using data from the Multiple Listing Service of Greater Cincinnati comparing the average sale prices for single family homes for 9 month period in 2014 to 2015 -most neighborhoods enjoyed a bump in prices.  The prices below cover 1/1/14-9/30/14 vs 1/1/15-9/30/15.

Neighborhood 2014 Avg Sales Price 2015 Avg Sales Price
Anderson Twp $263,123 $272,753
City $188,387 $301,281
Clifton $202,329 $224,302
Colerain Twp $114,979 $118,523
Deer Park $112,082 $122,616
Delhi Twp $117,206 $121,160
Fairfield $141,814 $149,241
Glendale $266,781 $316,848
Green Twp $138,720 $154,139
Hyde Park $489,952 $451,817
Liberty Twp $274,660 $275,538
Madeira $291,278 $339,225
Mason $323,939 $327,679
Montgomery $392,021 $447,915
Norwood $100,748 $108,685
West Chester $246,484 $259,411
Wyoming $330,608 $314,059

Wyoming and Hyde Park experienced slight declines in average sale prices.  This can happen for a variety of reasons- but usually it is a lack of homes for sale and buyers waiting for something better to come on the market.  Overall the  average sale price for single family homes in the 4 county area during the first 9 months of 2014 was $187,831  during the first 6 months of 2014 was $181,788 versus $195,355 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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