Median home prices have soared 23% since last year.
According to the latest numbers from the National Association of Realtors:
- Existing-home sales rose 1.4% on a seasonally adjusted annual rate from May to June, with no region showing a sales decline.
- The inventory of unsold homes increased 3.3% to 1.25 million from May to June – equivalent to 2.6 months of the monthly sales pace.
- The median existing-home sales price rose at a year-over-year pace of 23.4%, the second-highest level recorded since January 1999. Homes on the market typically sold in 17 days.
The Cincinnati real estate market is following its own path. The median sale price for single-family homes rose +16% over the same time period in 2020. As you can see from the charts below the numbers are down. What you don’t see is how much prices have increased. The average sale price for the same 6.5 months of 2020 was $242,995 versus
Last week’s market activity for last week in Greater Cincinnati:
Stats from a similar timeframe in 2020:
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Housing forecast from realtor.com.
2021 Housing Market Forecast and Predictions