Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

Kathy S. Koops GRI

Contact Me Today. Let's Work Together.

Are Condos Selling in Cincinnati?

filed under: Real Estate posted on December 20th, 2016

Condos continue to sell in greater Cincinnati. 

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  

Search

Sales volume comparing year-to-date in the 4 counties continues to outpace last year.  Data pulled from the CincyMLS.

Bar chart covering condo sales in greater Cincinnati

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.

  2015   2016  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 450 $88,646 481 $96,265
Clermont 269 $112,765 343 $123,404
Hamilton 1453 $157,803 1547 $169,277
Warren 407 $157,306 488 $165,853

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.

Questions real estate in your complex or neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt

 

Comments are closed.