Cincinnati Area Board Of Realtors Reports Home Sales Up 24% in November!

Home Sales Up 24% in November; 
Home Prices Up 9 Months in Row 
Cincinnati home sales (closings) have witnessed double-digit increases the past five months;
November being the highest, up 24% over last year.
Local home sales in November totaled 1,546 units compared to 1,244 a year ago.  It represents 17
consecutive months of increased sales.

Last month’s average home selling price was $153,994 vs. $147,207 a year earlier, for a 4.6%
increase.  Year-to-date, the average sale price is up 3%.  The average price has increased year-over-year for nine consecutive months.

Local home mortgage rates in November averaged 3.41% for a 30-year fixed rate loan.  That’s
down from 4.10% a year ago.  The difference represents a $470 yearly savings on a $100,000 home loan, which enhances home affordability.  Inventory of homes for sale continued its declining trend to 10,439 from 12,005 a year ago, down 13%.  This means that homes for sale — newly added to the current inventory — if priced properly and in good condition, are in a position to sell faster.

If you are in the market to buy or sell, please call a Star One REALTOR to assist you with your real estate needs.
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