“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.
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!