Bright colors on display in downtown Cincinnati on Fifth Street and the good numbers are also on display for the greater Cincinnati housing market.
The average sales price for single family homes continues to outpace the same time frame when comparing the fist 5 months of 2015 to 2016. According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January- May of 2015 was $179,977 while the year the price jumped nearly +4% to $187,345.
Single family home sales volume for the 4 counties. Data pulled from the CincyMLS.
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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.
The biggest problem facing the Cincinnati real estate market is the shortage of homes for sale. Buyers are getting discouraged with nothing to look at and/or getting caught in bidding wars. Not a win/win situation. And while the current real estate market favors sellers- many listing are sitting unsold as a result of overpricing. It’s a win/win market for sellers who priced their properties to sell quickly. In short-priced it right!
Do you have questions about sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt