Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Cincinnati Real Estate Health Check

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

Time for the Cincinnati real estate health check.  The sale of single family homes is flowing and, except for a very short supply of homes for sale, the “patient” looks healthy.

The chart below reflects just slim the pickings are when it comes to homes and condos for sale.
Homes for sale Cincinnati

At the end of October the housing supply was below 4 months- considered ideal for sellers.  However buyers aren’t jumping to purchase overpriced homes- so adjust your prices accordingly.

HomeSearch

Good news November 2015 was ahead of the same month in 2014 in all categories, gross dollars, number of homes sold and average sale price. Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.

Cincinnati real estate

  2014   2015  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 3769 $169,098 4045 $172,148
Clermont 2146 $176,423 2314 $185,050
Hamilton 7987 $182,996 8553 $190,184
Warren 2354 $243,092 2517 $250,362

Holiday celebrations and the winter months are ahead of us and if the weather cooperates home sales should continue to tick. The average listing price versus the average sale for the greater Cincinnati area remains stable with just a few bumps through 11/15.

List Price vs Sale Price
Lots of questions about the impact on real estate when interest rates rise.  Initially the sound I hear the most is people smacking their foreheads wondering why they waited to buy a property.  After the initial disbelief dies down sales will go on.  Both buyers and sellers will adjust to new interest rates …and to be blunt- life goes on.  Short of rapid, substantial interest rate increases the real estate market should remain healthy.

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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