Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

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Cincinnati Real Estate Market Update

filed under: Real Estate posted on October 21st, 2016

The real estate market update for Cincinnati contains both good and bad news for single family homes.

Bar chart covering Cincinnati real estate

Overall it’s the same story line- too few homes for sale and lots of buyers still out house hunting. The latest numbers from the Cincinnati Area Board of Realtors show higher sales and average sale prices for the entire MLS during the month of September.

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The average sales price for single family homes continues to outpace the same time frame when comparing the fist 9 months of 2015 to 2016.  According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January- September of 2015 was $188,037  while this during the same time frame this year the price increased by +4.5% to $196,732.

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

Bar chart for single family home sales in greater Cincinnati

 

All 4 counties sales volume and average sale price is higher than last year.  As noted above the lack of homes for sale continues to cause problems for everybody-buyers, sellers, lenders, appraisers and agents.

  2015   2016  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 3392 $173,720 3569 $186,858
Clermont 1987 $187,069 2081 $196,353
Hamilton 7266 $191,683 7711 $202,920
Warren 2154 $249,696 2258 $252,203

Showing and listing activity has been very active during October.  The beautiful weather and low mortgage interest rates had a positive effect on the local real estate market.  The current real estate market continues to favor sellers- but with some listings are overpriced and continue to sit on the market. It’s only  a win/win market for sellers who priced their properties to sell quickly.  In short-price it right!

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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