Cincinnati Real Estate

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Kathy S. Koops GRI

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A Quick Look at Cincinnati Real Estate Trends

filed under: Real Estate posted on January 13th, 2016

A quick look at Cincinnati real estate trends points to a shrinking number of single family homes for sale and slightly higher average sales price.

Single Family Home Sales

Instead of jamming the housing markets many potential buyers are staying put.  The lack of properties for sale may help the sale of homes already listed- but more buyers usually converts to rising sale prices…and the “stale” smell of many homes that have been for sale for months and months is not a good incentive.

HomeSearch

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

Cincinnati real estate

All 4 counties ended the year on high note with higher dollar sales volume in 2015 versus 2014.  And the lucky sellers experienced higher average sale prices during 2015.  Not a bad ending for a good year in greater Cincinnati real estate.

  2014   2015  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 4057 $168,391 4434 $173,311
Clermont 2328 $177,274 2540 $184,096
Hamilton 8622 $182,728 9249 $189,304
Warren 2538 $243,424 2757 $251,447

January has gotten off to a great start and while we can expect a few snowfalls to slow some buyers and sellers down- it’s already mid-January and we’re just now experiencing cold weather.  The watchdogs are warning of higher interest rates, more stringent credit requirements and the lack of homes for sale affecting the 2016 real estate market.  Personally I feel the lack of homes for sale was and will continue to be the biggest hurdle during the next 12 months.

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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