December Home Sales Explode! - Star One Realtors

December Home Sales Explode!

December Home Sales Explode! 
2015 Records Best Year since 2006  
Greater Cincinnati recorded it’s best December home sales ever, up + 10.4 %, compared to a year ago.  December home sales were 1,809 compared to 1,639 in December 2014.  Homes sold (closed) for the year were up + 7.2% compared to a year ago and recorded the greatest annual sales since 2006.

“2015 was a great year for Greater Cincinnati, recording the most home sales since 2006,” said Patti Stehlin, President of the Cincinnati Area Board of REALTORS®.  “Low interest rates, low housing inventory and very affordable housing have really made this a great market for both buyers and sellers,” said Stehlin.   “Sales remain strong, but in some cases, they are taking a little longer to close due to new government regulations, but don’t let this deter you.  Contact a REALTOR to help you understand all the important details involved in buying and selling a home. A REALTOR will assist you through the entire process, and is your absolute best source for professional and accurate information,” said Stehlin.

The December average home price climbed to $179,550 compared to $173,447 a year earlier, a + 3.5% increase.  For the year, the average price was $180, 803 compared to $175,609, a 3% increase.  At the same time, the inventory of homes for sale, as of December 31, continued its year-over-year declining trend to 6,704 from 7,989 a year ago, down – 16.1%.

Local home mortgage rates in December averaged 3.91% for a 30-year fixed rate loan.  The rates were higher at 3.99% 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 $472.  

“Demand for good, quality homes is still high, and our homes remain a great value for consumers looking for that dream home, said Stehlin.  Compared to renting, purchasing is definitely the most affordable,” Stehlin stated.  

Call a professional REALTOR today!

Nationwide, December home sales were up + 14.7% from November on a seasonally adjusted basis, and were up + 7.7% from December 2014.

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