“Real news” is today’s new buzzword. So when the Cincinnati Area Board of Realtors releases real news about sales and prices for real estate in Cincinnati- it must be the real deal.
The data is provided from data collected from the Multiple Listing Service of Greater Cincinnati and the total report can be viewed by clicking here.
To sum up the report January home sales continued to escalate, up 4.33 % compared to January a year ago. Home sales this month were 1,447 units compared to 1,387 units in January 2016.
A mix message of good news/bad news for buyers and sellers. The average sale price rose to $180,681 compared to $166,130 in January 2016.
The +8.76% price increase is good news for sellers but bad news for buyers on the financial cusp of affording a home. Combined with the number of homes for sales dropping -26.78% from January 2016- the lack of inventory is scaring buyers and sellers into inactivity. Buyers don’t want to compete in bidding wars and sellers are afraid that a quick sale could literally leave them homeless.
The real news about Cincinnati real estate is promising if the next several months continue the fast pace of January sales.
Call/Txt with questions or if you’re ready to find the right home for you!