The chart above was provided by Coldwell Banker using data from the Multiple Listing Service of Greater Cincinnati. We continue to break records for a low the number of homes on the market- 2017 is starting off just slightly better than 2016. According to the MLS we have a “balanced market” but as buyers struggle dealing with multiple offers -it might be hard to describe the lack of homes for sale as “balanced”.
And the numbers remain low because fewer homes are going up for sale in greater Cincinnati.
The local Cincinnati real estate market still favors sellers and shows no evidence of swinging to a buyer’s market any time soon. Buyers need to be laser focused and ready to buy so that when a home hits the market.
Ready to buy means having an up-to-date pre-approval letter and making a great first offer. If you are concerned about multiple offers or buying in a seller’s market- take the time to discuss the ins-and-outs with your Realtor®.