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.
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!