So let’s take a look at what’s happening in the greater Cincinnati area and how do these numbers affect the local real estate market? The number of active listings in the Multiple Listing Service of Greater Cincinnati for single-family homes is 3447. The median list price is $199,000 and the median sale price is $158,000.
Stats for single-family homes by zip code:
Active listings for the condo market is 466 units with a median list price $165,000 and a median sale price of $128,000.
Condo numbers by zip codes:
Well if you’re a seller and you believe that prices are skyrocketing and price your property too high- buckle up because you will be “for sale” for a long, long time. Homes and condos in “high demand” areas that are priced correctly can expect bidding wars and quick sales. Slowly rising interest rates (still at a historic low) will limit buying power for marginal buyers. The Cincinnati real estate market needs more listings in all areas for prices for appreciation to continue.
Fears of a housing stall are hitting many areas as buyers just give up the hunt for their next home.
Call/Txt with questions or if you’re ready to list and sell.