Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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What Are Homes Selling For?

filed under: Real Estate posted on November 19th, 2015

Real Estate PricesProbably not considered grammatically correct but the question I get asked most often what are homes selling for in the greater Cincinnati area?

The good news – homes are selling…the bad news-still not enough homes for sale and too many sellers are waiting until after the holidays to put their home or condo on the market.  According to the Multiple Listing Service of Greater Cincinnati, the average sales price for single family homes continues to climb.

Real Estate -Cincinnati

The local market has finally gained back the losses from the housing recession-with the year-to-date sales prices slightly higher than the end of 2005.  However not every neighborhood has reached the same level of recuperation.  Some newer areas are taking off with higher sale prices while older neighborhoods are holding their prices-but not gaining any momentum during the last years.

What a property is listed for versus the actual sale price is what you really need to know.  The time on market and sale price is the best indicator of “reality” for any seller.  And the most current sales past 6 months to a year are the sales that appraisers and real estate agents use for analysis.  Open Houses and buyer showings remain busy through November-so if you’re thinking about making a move -waiting until after the holidays may cost you.  The lack of inventory makes well priced properties “hot” when they hit the market and sometime multiple buyers write contracts.  After the holidays may bring more competition and more pressure on prices.

Stay tuned.

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