Cincinnati Real Estate

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Kathy S. Koops GRI

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Final Look at 2017 Home Sales in Greater Cincinnati

filed under: Real Estate posted on January 16th, 2018

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.

According to the Cincinnati Multiple Listing Service  3786 single family homes listed for sale down from last month.

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Sales volume comparing year-to-date in the 4 counties below.  Data pulled from the Multiple Listing Service of Greater Cincinnati:

year end single family home sales in 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.

  2016   2017  
  # Units Avg Sales Price # Units Avg Sales Price
Butler 4613 $185,734 4477 $194,292
Clermont 2713 $196,942 2668 $209,263
Hamilton 10016 $200,551 9981 $210,965
Warren 2949 $254,112 2923 $273,086

What does this mean? 

2017 cincinnati home sale stats
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.

2017 year end real estate in cincinnati

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

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

 

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