Not So Fast!

Sold!  Sold Before Listed!  Multiple Offers!  Bidding Wars!  Sellers’ Market!  It appears that every single family home in Greater Cincinnati is selling in a record time of two months or less.

Cincinnati MLS

Not so fast!

Single family home sales (all the data is from Multiple Listing Service of Greater Cincinnati.  05/01/17 through 07/31/17) continues to set records month after month.  However not every home is selling in less than 60 days.  Looking at single family homes throughout the Cincy MLS different price ranges have unique sales characteristics.

Cincinnati MLS Data

Homes priced above $500,000 and up are taking significantly longer to sell.

The number of homes available in within school districts reflects why some sellers need to become aggressive when pricing and why other sellers need to settle in for the long haul.

Cincinnati Home Sales

Neither the Lakota or Mason School Districts closed any properties at $1,000,000 and up.  So there isn’t any way to calculate how long listings will sit.  Remember the numbers are from the Cincinnati MLS and don’t include builders working directly with buyers.

Understanding supply and demand for the specific neighborhood is critical when buying and selling.  Not so fast may be acceptable to a $1,000,000 seller and unacceptable on a $290,000 listing. 

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