The latest data from the Multiple Listing Service of Greater Cincinnati is for single-family homes listed and sold through the CincyMLS. The information compares the 1st quarter of 2018 to the same time frame in 2019.
The average sale price for single-family homes in during the 1st quarter of 2018 was $202,947 and in 2019 $212,628 a +4. 6% increase. The highest priced sold for $2,600,000 in the first 3 months of 2018 versus $2,651,000 in 2019. The number of homes sold/closed dropped from 4372 units in 2108 to 4120 in 2019.
The first 3 months of 2019 highlighted an interesting trend in list prices versus selling prices.
This year started off just like last year with a wider gap between asking versus selling prices. The gap lessons during the summer months. If the gap widens during the summer months sellers will be adjusting listing prices.
People tracking national real estate trends are forecasting a slow down in the real estate market. Add interest rates creeping up plus FHA tightening guidelines to a shortage of homes for sale and local Cincinnati sales may slow in volume.