2017 home sales in greater Cincinnati continues to climb.
2017 finished on a high note with higher sales volume for single-family home sales in all four counties. 2017 ended with a current average sale price for single-family homes in greater Cincinnati of $207,185. compared to 2016’s $196,398. A 5.% increase. The median sale price in 2017 was $167,000 vs $157,500 in 2016. A 6% increase.
Sales volume comparing year-to-date in the 4 counties below. Data pulled from the Multiple Listing Service of Greater Cincinnati:
The CincyMLS covers all the surrounding counties (as far north as Dayton) and sale prices do vary by areas. Average sale prices continue to climb in all four counties but the shortage of homes for sale continues to cause problems.
What does this mean?
The number of new listings is down -34.3% from last month and down -7.4% from December 2016. 2017 continues the trend of too few homes available for sale.
The final look at 2017 home sales in Cincinnati:
The lack of homes for sale had rising prices and lower number of sales. 2017 sales are running – 0.1% behind last year.
All the implications of the new tax bill have not hit the housing market yet.
2018 housing market will be heavily impacted by interest rates and number of homes for sale