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August Home Sales Continues Momentum

August Home Sales Continues Momentum
Avg. Price Up Over Prior Year for 17th Straight Month
August 2020 home sales continued its upward momentum. Average sales and median pricing continued their ongoing increase. Closings in August were up 7.2% against a strong August 2019 with total sales volume up 22.52%. August 2020 home sales were 2,742 compared to 2,558 in August 2019.

“The current real estate market in Cincinnati is “HOT” based on the volume of sales activity which is a result of low inventory, low interest rates and the number of buyers,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. Cincinnati is amongst the most active real estate markets in the nation, mainly
due to its affordability and low interest rates,” said Meyer. “We are in unique times with such a pent-up demand for housing. If you want to buy or sell, now is the time to get involved.”

The August average home price climbed to $258,269 compared to $225,955 a year earlier, a + 14.3% increase. At the same time, the inventory of homes for sale, as of August 31, continued its year-over-year declining trend, dropping from 4,630 a year ago to 2,409 in August 2020, down – 48.0 %.  “In our strong, active market there are plenty of buyers ready to jump at great opportunities and they are!

Our inventory turns constantly. Newly listed properties in “Move in-ready” condition continue to sell quickly, many with multiple offers.
Contact a REALTOR and work with them to prepare your home to sell. REALTORS have been trained to help you through the home selling and buying process during these challenging times.” Meyer said.

Local home mortgage rates in August averaged 2.99% for a 30-year fixed rate loan. The rates were down compared to 3.75% a year ago. At these fixed rates, the monthly principal and interest payment on a
$100,000 home loan with no money down would be approximately $421.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best
source for professional and accurate information,” said Meyer.
Call a real estate professional !! Call a REALTOR today!

Nationwide, August home sales were up + 2.4 % compared to July on a seasonally adjusted basis and were up +10.5% from August 2019.

July Home Sales Break Record

July Home Sales Break Record
Avg. Price Up Over Prior Year for 16th Straight Month
July 2020 home sales broke the record for the most home sales of any July ever. Average sales and median pricing continue their ongoing increase. Closings in July were up 10.9% against a strong July 2019 with total sales volume up 21.93%. July 2020 home sales were 2,825 compared to 2,547 in July 2019.

“We anticipated July closings to be up, but Realtors were surprised by the intense volume of sales activity which stemmed from low inventory, low interest rates and the number of buyers,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Real estate in this market has remained strong and very active. Cincinnati is amongst the most active real estate markets in the nation, mainly due to its affordability and low interest rates,” said Meyer. “We are in unique times with such a pent-up demand for housing. If you want to buy or sell, now is the time to get involved.”

The July average home price climbed to $264,286 compared to $240,410 a year earlier, a + 9.9% increase. At the same time, the inventory of homes for sale, as of July 31, continued its year-over-year declining trend, dropping from 4,497 a year ago to 2,416 in July 2020, down – 46.3 %.

“In our strong, active market there are plenty of buyers ready to jump at great opportunities. Our inventory turns constantly. Newly listed properties in “Move in-ready” condition continue to sell quickly, many with multiple offers.

Contact a REALTOR and work with them to prepare your home to sell. REALTORS have been trained to help you through the home selling and buying process during these challenging times.” Meyer said.
Local home mortgage rates in July averaged 2.99% for a 30-year fixed rate loan. The rates were down compared to 3.75% a year ago. At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $421.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Meyer.

Call a real estate professional !! Call a REALTOR today!

Nationwide, July home sales were up + 24.7 % compared to June on a seasonally adjusted basis and were up + 8.7 % from July 2019.

November home sales slow but average price continues to climb

November Home Sales Lose Momentum
Average Price Continues to Climb
2019 November home sales lost some momentum, down – 3.4% compared to November a year ago, which is not uncommon this time of year. Home sales this month were 1,903 compared to 1,970 in November 2018.

“Even though homes sales in November slowed a bit, the housing market remains strong and affordable,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “Our region continues to experience business growth and an influx of millennials along with young and established families moving into Greater Cincinnati. Add in low rates, reasonable prices and a constantly rotating inventory and you have the perfect mix to help keep Cincinnati amongst the most affordable places nationwide to live,” said Billings.

The November average home price climbed to $226,113 compared to $209,075 a year earlier, an + 8.15% increase. At the same time, the inventory of homes for sale, as of November 30, continued its year-over-year declining trend, dropping from 5,023 a year ago to 4,032 in November 2019, down – 19.7 %.

“The pressure of millennials and families wanting to purchase a home is keeping inventory low. Don’t be too concerned with a low inventory,” said Billings. Once a “ready to move in” property is listed, it tends to sell quickly. With low interest rates, unemployment at or near the national average, the influx of good-paying jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

2019 Home Sales Start Slow but Average Price Sets a Record!

2019 Home Sales Start Slow
Average Price Sets Record for 31 Consecutive Months
2019 January home sales started the year lagging behind last year’s levels, down – 8.4 % compared to January a year ago. Home sales this month were 1,235 compared to 1,348 in January 2018.  “Despite the slow sales in January 2019 home sales are anticipated to be robust with inventory down and interest rates remaining low,” said Michelle Billings, President of the Cincinnati Area Board of REALTORS®.

“Even in the winter months, there are plenty of buyers. Coupled with less seller competition makes it a great time to list or sell your property. If it is in move-in ready condition and priced reasonably, in today’s market, there is great opportunity for it to sell quickly,” said Billings.

The January average home price climbed to $200,896 compared to $195,681 a year earlier, a + 2.67 % increase. At the same time, the inventory of homes for sale, as of January 31, continued its year-over-year declining trend, dropping from 4,185 a year ago to 4,044 in January 2019, down – 3.37 %.

“Greater Cincinnati is very affordable, great for job prospects and a better quality of life. It has many fine attributes to offer the residents of this region. Many corporations are expanding and / or moving to the Cincinnati region due to being a central location to many other major metropolitan areas. For these and many other reasons, the U.S. News & World Report’s 2018 Best Places to Live in the United States article ranked Cincinnati as one of those best places to live,” said Billings.

LCPL Taylor B Prazynski Walk / Run / Roll

14th Annual LCPL Taylor B. Prazynski Walk / Run / Roll

Star One Realtors supports LCPL Taylor B Prazynski Walk/Run/ Roll. This year the event is Saturday, November 10. Taylor was a former student of Kim Nuxhall and volunteered in the special needs classroom while in high school. In 2003, Taylor joined the USMC; he served as a 0311 infantryman and saw gunner with the 3rd Bat/8th Marine Reg Lima Company 4th Platoon.  His unit did a peacekeeping mission in Haiti 2004 and deployed to Iraq in 2005. Taylor was part of history supporting the first free election in Iraq.

Taylor was killed in the line of duty on May 9, 2005 in the Al Anbar Province supporting Operation Matador. Kim Nuxhull wanted to honor Taylor’s service to both the special needs community and to our country by naming The Joe Nuxhall Miracle League Field’s East field after LCPL Taylor Prazynski. Taylor’s father, John, and his family are great supporters of The Joe Nuxhall Miracle Field. Donations from the LCPL Taylor B Prazynski Walk / Run / Roll go toward The Joe Nuxhall Miracle Field and sponsorship to students at Fairfield High School. Sign up today at https://runsignup.com/Race/Register?raceId=4836& Learn more about The Joe Nuxhall Miracle Field: VideoBoardEastField2 1 768x512 1 300x200 - LCPL Taylor B Prazynski Walk / Run / Rollhttps://nuxhallmiracleleague.org/

September Home Sales Momentum Slows Average Price Sets Record for 27th Consecutive Month

September Home Sales Momentum Slows
Average Price Sets Record for 27th Consecutive Month

The momentum of September 2018 home sales slowed compared to last year’s levels, down – 7.5 % compared to September a year ago. Home sales this month were 2,109 compared to 2,280 in September 2017.

“Despite September sales slowing, 2018 home sales still remain one of the top three strongest in over 10 years,” said Phil Morrical III, President of the Cincinnati Area Board of REALTORS®. “This is still a competitive market, there are plenty of buyers and the interest rates are low. Consumers wanting to sell their home need to understand that this is a great time to list your home with a Realtor,” said Morrical.

The September average home price climbed to $207,894 compared to $198,567 a year earlier, a +4.7 % increase.  At the same time, the inventory of homes for sale, as of September 30, continued its year-over-year declining trend, but at a slower rate, from 5,633 a year ago to 5,449 in September 2018, down – 3.27 %.  However, September inventory was up + 0.5% over August 2018.

“Cincinnati is considered a very affordable market for home buyers and the inventory is turning over quickly,” said Morrical.  “Realtors monitor a statistic called, “Months’ Supply” (Absorption Rate).  If we take the September sales and compare it to the September active inventory to see how many months of possible sales exist before there is zero inventory. For September, there is 2.6 months’ supply.  5.0 is considered a “stable market.”  Below 5.0 months, it’s a Seller’s market; above 5.0, it’s a Buyers’ Market,” said Morrical.

Local home mortgage rates in September averaged 4.51% for a 30-year fixed rate loan.  The rates were up compared to 3.83% a year ago.  At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $507.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Morrical.

Call a real estate professional !!  Call a  STAR ONE REALTOR today!

Nationwide, September home sales were down 3.4% compared to August on a seasonally adjusted basis and were down – 4.1% from September 2017.

August Home Sales Remain Strong Average Price Sets Record for 26th Consecutive Month

August Home Sales Remain Strong
Average Price Sets Record for 26th Consecutive Month

August 2018 home sales continued the momentum even though they were down slightly from last year’s levels, down – 1.14 % compared to August a year ago. Home sales this month were 2,593 compared to 2,623 in August 2017.

“Home sales remain strong, despite being down slightly from last year,” said Phil Morrical III, President of the Cincinnati Area Board of REALTORS®. “This continues to be one of the best years in real estate. Sales remain robust, the average price of property has increased and interest rates remain low,” said Morrical.

The July average home price climbed to $218,566 compared to $210,471 a year earlier, a + 3.85 % increase. At the same time, the inventory of homes for sale, as of August 31, continued its year-over-year declining trend, but at a slower rate, from 5,647 a year ago to 5,423 in August 2018, down – 3.97 %. However, August inventory was up +3.15% over July 2018.

“Our inventory of homes continues to turn over quickly and we are less than 4% down compared to last year. Homes priced right and in move-in condition are selling quickly,” said Morrical. “Use a Realtor to assist you in selling your home or buying your next home. Realtors have access to the MLS, a powerful tool used by Realtors to assist you in listing and / or selling your home for the best, possible price,” said Morrical.

Local home mortgage rates in August averaged 4.54% for a 30-year fixed rate loan. The rates were up compared to 3.95% a year ago. At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $509.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Morrical.

Call a real estate professional !! Call a REALTOR today!

Nationwide, August home sales were the same as July on a seasonally adjusted basis, and were down – 1.5% from August 2017.

July Home Sales Show Strength

July Home Sales Show Strength
Average Price Sets Record for 25th Consecutive Month
July 2018 home sales flexed its muscle, exceeding last year’s levels, up + 4.13 % compared to July a year ago. Home sales this month were 2,545 compared to 2,444 in July 2017.

“July 2018 recorded the third highest July home sales since 2005, the highest recorded in July 2015,” said Phil Morrical III, President of the Cincinnati Area Board of REALTORS®. “Home sales remain very strong as a result of the strong economy and the steady, lower interest rates. The demand for housing has not subsided, but buyers appear to be more and more selective in what they are looking for,” said Morrical.

subsided, but buyers appear to be more and more selective in what they are looking for,” said Morrical.
The July average home price climbed to $224,481 compared to $209,130 a year earlier, a + 7.34 % increase. At the same time, the inventory of homes for sale, as of July 31, continued its year-over-year declining trend to 5,257 from 5,662 a year ago, down – 7.15 %, however, July was up +5.43% over June 2018.
“Homes in greater Cincinnati are very affordable despite the fact we are dealing with low inventory and increasing home prices. Homes priced right and in move-in condition are selling quickly,” said Morrical. “Use a Realtor to assist you in selling your current home or buying your next home. Realtors have access to the MLS of Greater Cincinnati, the most powerful tool used by Realtors to assist you in listing and / or selling your home quickly, efficiently and for the best, possible price,” said Morrical

Local home mortgage rates in July averaged 4.54% for a 30-year fixed rate loan. The rates were up
compared to 3.95% a year ago. At these fixed rates, the monthly principal and interest payment on a $100,000
home loan with no money down would be approximately $509.
“REALTOR’s are available to help guide consumers through all the important details involved in
buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best
source for professional and accurate information,” said Morrical.
Call a real estate professional !! Call a REALTOR today!
Nationwide, July home sales were down – 0.7% from June on a seasonally adjusted basis, and were
down – 1.5% from July 2017.

May Home Sales Strong

May Home Sales Strong, but Short Average Price Sets Record for 23rd Consecutive Month

May 2018 home sales were strong, but fell short of last year’s levels, down – 4.32 % compared to May a year ago. Home sales this month were 2,594 compared to 2,711 in May 2017.

“May 2018 recorded the third most May home sales since 2005, the highest in May 2017,” said Phil Morrical III, President of the Cincinnati Area Board of REALTORS®. “Besides the strong economy, the demand for purchasing a home is very high even though interest rates are slowly rising,” said Morrical.

The May average home price climbed to $219,293 compared to $199,770 a year earlier, a + 9.77 % increase.  At the same time, the inventory of homes for sale, as of May 31, continued its year-over-year declining trend to 4,536 from 5,087 a year ago, down – 10.83 %.

“Cincinnati continues to be a very strong and vibrant market.  Our homes are very affordable even though we are dealing with low inventory and increasing home prices. Homes priced right and in move-in condition are selling quickly,” said Morrical.  “A few tips for this market: 1) be prepared to move quickly; 2) make your best offer; 3) it is beneficial to come with a pre-approved loan; and 4) ask your Realtor about what price range of property is not selling as quickly. You may find your dream home by expanding your required features,” said Morrical.

Local home mortgage rates in May averaged 4.58% for a 30-year fixed rate loan.  The rates were up compared to 4.09% a year ago.  At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $511.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Morrical.

Call a real estate professional !!  Call a REALTOR today!

Home Sales May 2018 sent to media 06 20 2018 Page 2 1024x627 - May Home Sales Strong

April Home Sales Rebound, Average Price Sets Record for 22nd Consecutive Month

April Home Sales Rebound 
Average Price Sets Record for 22ndConsecutive Month

April 2018 home sales rebounded, exceeding last year’s levels, up + 4.00 % compared to April a year ago.  Home sales this month were 2,210 compared to 2,125 in April 2017.

“With April’s rebound, 2018 home sales have caught up and are on course to exceed 2017’s sales,” said Phil Morrical III, President of the Cincinnati Area Board of REALTORS®.  “The strong economy and the pent up demand for new homes and first-time home buyers makes this a very active and challenging market for home sales,” said Morrical.

The April average home price climbed to $214,972 compared to $205,089 a year earlier, a + 4.82 % increase.  At the same time, the inventory of homes for sale, as of April 30, continued its year-over-year declining trend to 4,275 from 4,885 a year ago, down – 12.49 %.

“Cincinnati is a very strong and vibrant market.  Our homes are very affordable even though we are dealing with low inventory and an increase in home prices. Homes priced right and in move-in condition are selling quickly,” said Morrical.  “Also, did you know that Greater Cincinnati has received recognition as a “great place to go in 2018; one of the best in the US to live and work; one of the fastest growing economies in the Midwest; and one of the best cities for new college grads?  Cincinnati is truly home,” said Morrical.

Local home mortgage rates in April averaged 4.58% for a 30-year fixed rate loan.  The rates were up compared to 4.09% a year ago.  At these fixed rates, the monthly principal and interest payment on a $100,000 home loan with no money down would be approximately $511.

“REALTOR’s are available to help guide consumers through all the important details involved in buying and selling a home. A REALTOR will assist them through the entire process and is your absolute best source for professional and accurate information,” said Morrical.

Call a real estate professional !!  Call a STAR ONE REALTOR today!

one goal. one passion.