Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Home Sale Insights

filed under: Real Estate posted on February 17th, 2016

Home sale insights for the greater Cincinnati real estate market is a mix of good news/bad news.
List Price vs sale price

According to an article “Is it Bidding Time Again?” by Shu Chen for CoreLogic  highlights the housing market’s continued recovery from the foreclosure crisis.  Right now the strong demand and limited inventory  is driving up the number of homes selling at or above list price.  According to the article the number of homes (data October, 2105) selling at or above list price has recovered to early 2006 levels.

The bad news for the greater Cincinnati market is our list price vs sale price at 20%  is way below cities with 52% and 42%.
Cincinnati Listing vs Sale prices

Bottom line for sellers in our area ( and yes you’ve heard this 100 times) price it right and it sells quickly.  Over priced listings sit on the market for an extended period of time.  Two things to take away from the CoreLogic Report- dire need for the number of properties listed to increase significantly.  Lack of inventory is holding back potential sellers from listing…because they don’t have something to buy.  The 2nd point is pricing -no matter the number of homes up for sale- the right price at the time of listing remains critical.

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