As predicted last month the impact of social distancing and jobs was not full-blown until mid-March. So the slow down in sales started to appear in April, May, and June closings.
Sales/closings continue to be robust when you consider the “shelter-in-place” and concern over how to safely show a property. Real estate isn’t back to normal but I think the numbers continue to show a high level of consumer interest and willingness to work through a “no-touch” deal.
May home sales were down -26.3% from May 2019 and +3.3% higher than last month.
The median sale price rose +8.2% compared to May 2019 and up -6.1% from last month. The average sale price was up +4.0% from May 2019 and up +1.8% from last month.
The Days on Market (DOM) for May was 28 down -12.5% from 32 days last month. It’s still a seller’s market!
April numbers reflect slight gains in 2 counties. Single-family home sales volume for the 4 counties. Data pulled from the CincyMLS.
The average sale price for single-family home sales continues to appreciate.
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