Are Cincinnati Home Sales Soaring?

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

And yes nationally existing home sales are definitely soaring!

home sales infographic, keeping current matters
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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