Looking at Cincinnati condo trends for 2015 reveals a segment of the local real estate market experiencing both ups and downs in sales volume and average sale prices.
The number of condos sold as well as the average sale price declined in 2015 in both Butler and Hamilton Counties. Data pulled from the CincyMLS.[table “” not found /]
Until recently the weather has not been an issue as potential buyers surf for new condos before hitting the market. However many complexes are still feeling the effecting of the mortgage melt down-with too many rental units or HOA (Home Owner Association) unwilling or unable to complete paperwork required for FHA financing and FHA backed mortgages appeal to the largest segment of condo buyers today. The shortage in the number of condos and single family homes available for sale homes continues to be the biggest downer- leaving many buyers feeling discouraged and staying home.
The chart above shows how the number of condos for sale keeps shrinking every year- which is good for sellers in well managed easy to finance complexes. Make sure your complex is keeping up with the times when it comes to financing. Do you have questions about sale prices in your complex-send a request for a full market evaluation. Anything else – Call/Txt