The books haven’t closed on real estate transactions for 2016 yet because The Multiple Listing Service of Greater Cincinnati and the Cincinnati Area Board of Realtors need to review and clean up the data. As of today the greater Cincinnati area closed sales on 22,757 single family homes in 2016 versus 21,406 in 2015- roughly a 5.5% increase.
The average sale price in 2016 is finally above the high point we reached in 2005 and given the lack of homes for sale is great news for the local real estate market.
According the Business Courier article the top selling neighborhoods on the northern side of the Ohio river are: (01/01/16-10/31/16)
Compared to the 2015:
Some shifting in positions of the communities with the most sales probably due to the availability of land and new construction. However the Courier missed some busy communities so I’ve added an honorable mention list -neighborhoods with lots of sales in both 2015 and 2016:
Bottom line for the greater Cincinnati real estate market 2016 was a great year. Sales in 2017 will continue as long as sellers are confident enough to list their properties and not wait for a “better” market. Slightly higher mortgage rates will push some potential buyers out of the market but a shortage in the number of single family homes for sale is the biggest hurdle we need to overcome.
Don’t see your neighborhood listed on the “best sellers” list and want more details- Call/Txt