Cincinnati Real Estate Hot or Not?
Cincinnati Real Estate Hot or Not?
Is the Cincinnati real estate market hot or not?
The average sales price for single family homes continues to outpace the same time frame when comparing the fist 4 months of 2015 to 2016. According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January-April of 2015 was $172,065 while the year the price jumped nearly +6% to $182,637.
The total number of single family home listings continues to decline- down -24% compared to April 2015 and down -30% from 2014. The lack of homes for sale is hurting both buyers and sellers- higher prices for buyers and sellers who are afraid to sell without finding a place to move before signing a contract.
Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.
All 4 counties sales volume and average sale price is higher than last year. Hopefully the lack of inventory doesn’t slow down sales during the summer months.
Lots of real estate needs- buyers looking to buy, potential sellers trying to determine next move and waiting until they secure housing – before they decide to list. Also for flexible landlords- lots of people looking for short term housing options as they shuffle through the sale or building process.
Do you have questions about sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt
