Cincinnati Real Estate

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Kathy S. Koops GRI

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First Quarter Cincinnati Condo Sales

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

First quarter Cincinnati condo sales results are up and down.

(Updated 4/21/2017 Cincinnati Area Board of Realtors Market Report)

Both Clermont and Warren Counties condo sales volume continues to lag compared to same time frame last year. time last year.  The current average sale price for condos in greater Cincinnati is $167,293 compared to $132,079 for the quarter of 2016.

According to the Cincinnati Multiple Listing Service has only 553 condos listed for sale.

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Sales volume comparing year-to-date in the 4 counties is a mixed bag..  Data pulled from the CincyMLS.

graph of first qtr sales of cincinnati condos

 

The CincyMLS covers all the surrounding counties (as far north as Dayton) and sale prices do vary by areas.  As you’ll see the average sale price in all the counties has increased from the same time frame last year.

  2016   2017  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 96 $88,590 96 $98,371
Clermont 65 $126,103 59 $133,615
Hamilton 304 $138,902 313 $197,610
Warren 99 $161,703 92 $168,937
         
         

What does this mean for buyers and sellers?

The real estate loops continues – too few new listings hitting the market and the very low number  of condos (and single family homes) for sale continues to drag on the local real estate market.  Spring and the spring real estate market are in full bloom and if more condos don’t hit the market soon- buyers can expect to pay higher prices.  Problems might pop up for borrowers with small down payments and lenders who don’t want to repeat past mistakes with a crazy real estate market.

Questions real estate in your complex or neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt

 

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