Overall it’s the same story line- too few homes for sale and lots of buyers still out house hunting. – 34% fewer homes for sale than October 2014 and -23% than October 2015. Click here to view the lastest home sales report from the Cincinnati Board of Realtors.
The average sales price for single family homes continues to outpace the same time frame when comparing the fist 10 months of 2015 to 2016. According to the Multiple Listing Service of Greater Cincinnati the average sale price for a single family home January- October of 2015 was $186,843 while this during the same time frame this year the price increased by +5.% to $196,777.
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. As noted above the lack of homes for sale continues to cause problems for everybody-buyers, sellers, lenders, appraisers and agents.[table “” not found /]
Showing and listing activity were brisk during October. November home sales might be impacted by colder weather, holiday shopping and slowly rising interest rates. The current real estate market continues to favor sellers with “priced right” listings.