Cincinnati Real Estate

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Kathy S. Koops GRI

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A Quick Look at 2016 Cincinnati Real Estate Trends

filed under: Real Estate posted on January 12th, 2017

A quick look at 2016 Cincinnati real estate trends points to a shrinking number of single family homes for sale and slightly higher average sales price compared to 2015.  The average sale price in 2015 was $186,262 versus $196,261 in 2916

chart of homes sales in cincinnati

Early January showings and open houses have been very active.  However, while the lack of properties for sale may help the sale of homes already listed- overpriced homes and will just continue to sit.  

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Year end numbers covering single family home sales volume for the 4 counties. Data pulled from the CincyMLS.

bar chart covering single family home sales in cincinnati 2015 vs 2016

All 4 counties ended the year on high note with higher dollar sales volume in 2016 versus 2015. And lucky sellers experienced higher average sale prices during 2016.  Not a bad ending for a good year in greater Cincinnati real estate.

  2015   2016  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 4445 $173,151 4606 $185,483
Clermont 2549 $184,069 2708 $196,874
Hamilton 9278 $189,104 9996 $200,397
Warren 2767 $251,556 2942 $254,184

While January has gotten off to a great start we can expect a few snowfalls to slow some buyers and sellers down. The watchdogs are warning of higher interest rates, more stringent credit requirements and the lack of homes for sale affecting the 2017 real estate market.  Personally I feel the lack of homes for sale was and will continue to be the biggest hurdle during the next 12 months.

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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