Keeping Current Matters shared an infographic based on information from the National Association of Realtors.

And yes nationally existing home sales are definitely soaring!

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According to the Multiple Listing Service of Greater Cincinnati comparing 2016 to 2017 existing home sales from January 1st through December 15th:

• Median Sale Price up 5.9%
• Average Sale Price up 5.2%
• Residential Inventory For Sale down -13.5% (comparing end of November reports for 2016 to 2017
• Homes sold with 30 days is slightly lower for 2017 at 55.07% vs 62.39% in 2016

Bottom Line

The greater Cincinnati real estate market remains “hot” but we are suffering from a shortage of homes for sale.  Sellers that hit the market are selling quickly and usually get list price or very close to list.   The longer a property is for sale the lower the sale price.  The data for homes up for sale 120 days or longer sell for 93.94% of the latest asking price. 

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