The number of people living downtown continues to increase. According to 2015 statistics the 45202 zip code had 15,933 residents. With the average age of 39 and household income of $65,203, urban living is attracting younger residents. According to the latest report covering the “state of downtown Cincinnati”, the city is alive and well.
The mix of rental and condo properties located throughout downtown offer resident a wide range of prices and features. And the median sale price for condos weathered the recession and are slightly higher in the current real estate market.
The numbers are from the The Multiple Listing Service of Greater Cincinnati cover sales from 2006 through July 31, 2106. In 2006 the highest priced downtown Cincinnati condo sold for $1,125,000. The highest priced sales was in 2013 for $1,1700,000. The year-to-date highest priced sale is $645,ooo. Downtown condos are (like all real estate) is subject to what’s available and if the location meets buyer demands. The long term life of downtown Cincinnati relies on not only a vibrant supportive commercial development but also on a sustainable housing market.
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