Cincinnati Real Estate – Where are We? Where Have We Been? #1

We are all keeping our eyes on the real estate market. Whether you are currently in the market as an actively shopping buyer, or considering selling your home, you know the numbers matter.  Those of us that are actively involved with assisting customers and clients should clearly be keeping an eye on the numbers!
What is interesting about the current real estate environment is that anyone with a deed and a mortgage to real property is paying attention to the numbers like never before.

Let’s keep an eye on the market together.  I will update you monthly with stats from the Greater Cincinnati Multiple Listing Service, so that you can see the trends as we do.Let’s look at the Butler, Warren, Clermont and Hamilton Counties. Single family and Condo sales activity. The last six months to date. Then, let’s compare to the same time period, 2007.

Per the Greater Cincinnati Multiple Listing Service:

Single Family Sales – last 6 months: 8178 total units  
Average List Price: $188,785
Average Sales Price: $179,866

Single Family Sales – same time period, 2007: 9556 total units
Average List Price: $199,672
Average Sales Price: $192,028

1378 Fewer homes sold    -  $12,162 drop in average sales price

Attached Homes/ Condominiums/ Town homes- last 6 months: 1011 total units
Average List Price: $155,537
Average Sales Price: $149,352

Attached Homes/Condominiums/Town homes – same time period, 2007: 1373 total sales
Average List Price: $150,144
Average Sales Price: $145,892

362 Fewer Condos sold – $3460 drop in average sales price