Cincinnati Real Estate

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Kathy S. Koops GRI

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What’s Trending in Cincinnati Real Estate?

filed under: Real Estate posted on March 11th, 2016

What’s trending in greater Cincinnati real estate for the 2016?

Home sales continue to outpace the number of new listings which is driving up sale prices in some areas.

Comparing the average sale price for single family homes during the first 2 months of 2015 ($164,111) to 2016 ($168,380) our area experienced a 2.6% increase.

Cincinnati Real Estate

Source: CincyMLS

Fewer and fewer single family homes are for sale.

Homes for sale Cincinnati

At the end of February, 2016 buyers were looking at 5675 single family homes for sale.  A 18% drop from February, 2015 and a 25% drop from 2014.  And as the number of homes listed gets smaller so does the pool of buyers.

HomeSearch

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

Cincinnati Real Estate

3 of the counties start 2016 ahead of last year.  Warren County remains slightly below 2015 in gross sales volume and average sale price.   The lack of homes for sale may be impacting home sales in Warren County.

  2015   2016  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 465 $151,466 511 $163,195
Clermont 272 $161,738 298 $174,476
Hamilton 1056 $168,403 1098 $173,181
Warren 272 $228,005 258 $225,670

Spring is on the verge of arriving and hopefully all the potential sellers waiting for spring will finally get their homes on the market.  As long as interest rates remain low – and buyers are not sidetracked by nice weather and politics the greater Cincinnati real estate market should be very busy for the next several 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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