Home sales continue to outpace the number of new listings which continues to drive up sale prices in some areas.
Comparing the average sale price for single-family homes during the first 2 months of 2017 ($183,598) to 2018 ($195,382) our area experienced an increase of +6%.
Fewer and fewer single-family homes are for sale in Greater Cincinnati.
Right now buyers were looking at 3533 single family homes for sale. A -22% drop from February 2017 and a -41% drop from 2016. Unfortunately as the number of homes listed gets smaller so does the pool of buyers.
Single-family home sales volume for the 4 counties. Data pulled from the CincyMLS.
Only 2of the counties start 2018 ahead of last year.
Spring is on the verge of arriving and hopefully, all the potential sellers waiting for spring will finally get their homes on the market. Interest rates rose slightly in 2018 but are still very low. Good weather and a few more homes on the market may bloom into a healthy spring real estate market.