The low number of condos for sale hasn’t deterred buyers from hitting the Cincinnati condo market. Last year 2669 condos with an average sale price of $139,694 sold/closed from January through November weather and low interest rates help to fuel sales in the greater Cincinnati condo market.
According to the Cincinnati Multiple Listing Service has only 652 condos listed for sale
Sales volume comparing year-to-date in the 4 counties continues to outpace last year. Data pulled from the CincyMLS.
The sales volume is one trend to follow but most buyers want to know the average sales price Good news in November all the average sale price is ahead of when compared to November, 2105. In the Cincy MLS the average sale price for a condo January- November, 2015 was $139,694 and during the same time frame in 2016 $149,870.
The CincyMLS covers all the surrounding counties (as far north as Dayton) and sale prices do vary by areas.
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Low number of condos for sale continues to impact the greater Cincinnati condo market. As the weather changes (eventually) and interest rates rise slightly many potential buyers will drop out of the market. Sellers waiting for the right time may find themselves sitting on properties much longer because even small mortgage rate hikes knock a good percentage of condo buyers out of the game.