Buyers must be waiting in line because single-family home sales in Greater Cincinnati continue at a brisk pace.
1671 single-family home sales closed during December 2019 versus 1486 during December 2018. So closings were up approximately 11% during the last month of December this year versus last year.
Not only was the number of closings up, but the average sale price on single-family homes continues to climb from $215,417 in December 2018 versus $232,085 in December 2019.
According to Keeping Current Matters if you’re following what’s happening in the housing market right now, you know that many people believe the winter months aren’t a good time to sell a home. As Realtor.com Senior Economist George Ratiu recently noted,
“Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.”
However, a recent report by ShowingTime reveals how this year is different. Buyer activity is way up compared to the same time last year. The report explains,
“The nation’s 12.6% growth in home showings compared to 2018 was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases. The West Region saw the greatest growth in activity, with a 23.1% jump – the region’s greatest in the history of the Showing Index.”
The increase has spread across all four regions of the country, as the graph below shows:
Waiting for the “spring buyers’ market” may be a mistake this year. It seems the purchasers are already out and looking to buy.