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Cincinnati Board of Realtors, Cincinnati housing, home prices, homeownership, Homes, homes for sale, MLS Listings, real estate, Star One, Star One Realtors

January Posts Record Home Sales

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Strong Market Continues Momentum into 2017

January home sales continued last year’s momentum, up 4.33 % compared to January a year ago, setting a new record high for January. Home sales this month were 1,447 compared to 1,387 in January 2016.

“2017 home sales continued the positive momentum where 2016 left off,” said David Welch, President of the Cincinnati Area Board of REALTORS®.  “January 2017 posted the highest number of home sales compared to any January historically, exceeding the record set in January 2016,” said Welch.

The average home price climbed to $180,681 compared to $166,130 a year earlier, a +8.76 % increase.  At the same time, the inventory of homes for sale, as of January 31, continued its year-over-year declining trend to 4,867 from 6,647 a year ago, down – 26.78 %.

“The average price of homes set another record this month, extending our consecutive record months of average home sale prices to eight.  Low inventory along with low interest rates and consumers ready to purchase is the perfect combination for driving prices higher. Homes that are priced right and that are in move-in ready condition are the properties that are selling quickly,” said Welch.

Local home mortgage rates in January averaged 4.07% for a 30-year fixed rate loan.  The rates were up slightly compared to 3.80% 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 $481.

“Consumers should to contact a REALTOR to help guide them through 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 Welch.

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

Nationwide, January home sales were up + 3.3 % from December on a seasonally adjusted basis, and was up + 3.8 % from January 2016.

Cincinnati Board of Realtors, Cincinnati housing, home prices, homeownership, Homes, homes for sale, MLS Listings, real estate, Star One, Star One Realtors

2016 just shy of 2005 records!

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2016 just shy of 2005’s record year in sales

December home sales continued the year’s momentum, up 6.02 % compared to December a year ago. Home sales this month were 1,937 compared to 1,827 in December 2016. Home sales for the year, 2016, ended up 7.46% over 2015 and just missed 2005’s record year in sales, 26,114 in 2016 vs 26,553 in 2005.

“2016 was a stellar year for home sales in Greater Cincinnati, recording the second highest year ever in unit sales,” said David Welch, President of the Cincinnati Area Board of REALTORS®. “The market momentum was so strong that we achieved all-time highs in average and median sales prices also,” said Welch.
The average home price climbed to $190,339 compared to $178,837 a year earlier, a + 6.43 % increase. At the same time, the inventory of homes for sale, as of December 31, continued its year-over-year declining trend to 5,049 from 6,704 a year ago, down – 24.68 %.

“Nine out of the past twelve months recorded record high average prices of homes. Our low inventory coupled with low interest rates and consumers ready to purchase made this a very active market that continues to drive the prices higher. Homes that are priced right and that are in move-in ready condition are the properties that are selling quickly,” said Welch.

Local home mortgage rates in December averaged 4.06% for a 30-year fixed rate loan. The rates down slightly at 3.91% 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 $481.

“Consumers should to contact a REALTOR to help guide them through 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 Welch.

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

Nationwide, December home sales were down – 2.8 % from November on a seasonally adjusted basis, but were up slightly + 0.7 % from December 2015.

Cincinnati Board of Realtors, Cincinnati housing, home prices, homeownership, Homes, homes for sale, MLS Listings, real estate, Star One, Star One Realtors

Average and Median Home Prices Highest in November

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November home sales soared, up 21.41 % compared to November a year ago. Home sales this month were 1,866 compared to 1,537 in November 2015. For the first eleven months of 2016, home sales are up 7.5% over the first eleven months of 2015.

“2016 home sales in Greater Cincinnati are set to record the second highest year ever in unit sales,” said Patti Stehlin, President of the Cincinnati Area Board of REALTORS®. “The market momentum is so strong that we could achieve all-time highs in average and median sales prices also,” said Stehlin.

The average home price climbed to $190,784 compared to $176,599 a year earlier, a + 8.03 % increase. At the same time, the inventory of homes for sale, as of November 30, continued its year-over-year declining trend to 5,777 from 7,476 a year ago, down – 22.73 %.

“Eight out of the past eleven months have displayed record high average prices of homes. Our low inventory coupled with low interest rates and consumers ready to purchase make this a very active market that continues to drive the prices higher. Remember, homes that are priced right and that are in move-in ready condition are the properties that are selling quickly,” said Stehlin.

Local home mortgage rates in November averaged 3.98% for a 30-year fixed rate loan. The rates were about the same at 3.97% 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 $476.

“Consumers need to contact a REALTOR to help guide them through 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.

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

Nationwide, November home sales were up + 0.7 % from October on a seasonally adjusted basis, and were up + 15.4 % from November 2015.

American Dream, average sale price, buy now, buyers, buying home, Cincinnati, Cincinnati Board of Realtors, Cincinnati housing, Greater CIncinnati Homes, Hamilton County, home price, home prices, homeownership, Homes, homes for sale, homes sales, house for sale, houses for sale, MLS Listings

Greater Cincinnati Home Sales Remain Strong!

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Greater Cincinnati Home Sales Remain Strong!
Average Price and Closings Continue to Climb
September home sales remained strong, up 5.00 % compared to a robust September a year ago. September home sales were 2,362 compared to 2,250 in September 2015. For the first nine months of 2016, home sales are up almost 6.4% over the first nine months of 2015.  “Being a very stable and affordable housing market, Greater Cincinnati continues its upward sales trend,” said Patti Stehlin, President of the Cincinnati Area Board of REALTORS®. “Our closings in September have been their highest since 2005,” said Stehlin.

The average home price climbed to $191,078 compared to $176,257 a year earlier, a + 8.41 % increase. At the same time, the inventory of homes for sale, as of September 30, continued its year-over-year declining trend to 6,447 from 8,438 a year ago, down – 23.6 %.

“Our average price of homes has been at record highs. Our low inventory coupled with low interest rates and consumers ready to purchase make this a very active market that continues to drive the prices higher. Remember, homes that are priced right and that are in move-in ready condition are the properties that are selling quickly,” said Stehlin.

Local home mortgage rates in September averaged 3.45% for a 30-year fixed rate loan. The rates were higher at 3.84% 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 $446.

“Consumers need to contact a REALTOR to help guide them through 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.

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

American Dream, average sale price, buyers, buying home, Cincinnati Board of Realtors, home price, home prices, homeownership, interest rate, inventory, real estate, realtor, Realtors, sellers, selling home, Star One, Star One Realtors

August Home Sales Continue Upward Growth Unit Sales Up; Prices Up

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August Home Sales Continue Upward Growth Unit Sales Up; Prices Up

Greater Cincinnati home sales this month were very strong, up 11.37 % compared to a record setting August a year ago. August home sales were 2,595 compared to 2,330 in August 2015.  For the first eight months of 2016, home sales are up almost 6.4% over the first eight months of 2015.

“August home sales continued their upward momentum compared to the same month a year ago,” said Patti Stehlin, President of the Cincinnati Area Board of REALTORS®.  “Housing in Greater Cincinnati is very affordable and the sales this month were the highest in over 10 years,” said Stehlin.

The average home price jumped to $193,808 compared to $185,330 a year earlier, a + 4.57 % increase.  At the same time, the inventory of homes for sale, as of August 31, continued its year-over-year declining trend to 6,753 from 8,522 a year ago, down – 20.8%.

“Our inventory of homes for sale remain low, but as new construction increases and consumers, wanting to sell, put their homes on the market, we will see a continued increase in sales and slow growth in inventory.  Homes that are priced right and that are in move-in ready condition, properties are selling quickly,” said Stehlin.

“Consumers need to contact a REALTOR to help guide them through 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.

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

Nationwide, August home sales were up -0.9% from July on a seasonally adjusted basis, and were up + 0.8% from August 2015.

 

30-Year Fixed Rate Mortgage (local)

August   2016       (average)        3.41%

August   2015       (average)        3.85%

Most recent (Sept. 22, 2016)       3.64%

A year ago   (Sept. 22, 2015)      3.84%

April Sales, Cincinnati Board of Realtors, Cincinnati housing, Greater CIncinnati Homes, home prices, houses for sale, interest rate, March Sales, spring market

April Closings Surpass Sales from a Year Ago

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Home sales in April climbed 4.5% over a year ago providing a solid start into the spring market. 2,022 homes were sold (closed) last month compared to 1,935 in April 2013.
“The Greater Cincinnati housing market has come alive,” said Ken Parchman, president of the Cincinnati Area Board of REALTORS®. “The fact that new listings increasing more than 8% in April compared to March shows that sellers are ready to make a move, providing greater opportunity for buyers.
The March average home selling price climbed to $166,025 vs. $156,676 a year earlier, a 6.0% increase. The average price has increased year-over-year for 26 consecutive months. “This shows that our market is healing after the housing crash. More buyer activity and relatively stable interest rates will continue to push prices higher,” said Parchman.
Local home mortgage rates in April averaged 4.24% for a 30-year fixed rate loan. Even though the rates are up slightly from 3.42% a year ago, they are still at a level that makes purchasing a home very affordable and does not appear to be negatively influencing home sales.
The inventory of homes for sale as of April 30 continued its year-over-year declining trend to 9,232 from 10,148 a year ago, down – 9.0%. However, April inventory increased + 5.1% compared to March 2014. This was a result of an 8.3% increase in new listings in April compared to March 2014.
“Cincinnati was recently ranked 4th by the mortgage website, www.HSH.com, for being one of most affordable cities to buy a home,” said Parchman. “We live and work in a stable market with affordable housing opportunities for not only first-time buyers, but those looking to relocate.”
 “With the spring market well underway, there is no better time than now to list your property with a REALTOR®,” said Parchman.
Nationwide, April home sales were up + 1.3% from March on a seasonally adjusted basis, but were down – 6.8% from April 2013.

home prices, Homes, homes sales

Home Sales Continue Upward Trend

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Home Sales Continue Upward Trend; February Sales Highest Since 2007 

Cincinnati home sales (closings) continued the upward momentum in February, a 6-year high.  Home sales last month totaled 1,335 compared to 1,163 from a year ago, up 14.8%. This represents 20 consecutive months of increased sales. Sales in February 2013 compared to January 2013 were up 2.7%, which is typical of the season.

February’s average home selling price was $143,424 vs. $130,251 a year earlier, for a 10.1% increase. The average price has increased year-over-year for 12 consecutive months.  For the first 2 months of 2013, the average price of homes has increased 5.5%.

Local home mortgage rates in February averaged 3.67% for a 30-year fixed rate loan. That is down from 3.91% a year ago. The difference represents a $164 yearly savings on a $100,000 home loan, which enhances home affordability. Inventory of homes for sale continued its declining trend to 9,395 from 11,114 a year ago, down 15.5%. 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. It is common for inventory to start low and build as the year goes on. As of today, the inventory of homes for sale is at 9,611 listings.

“Buyers are taking advantage of the low interest rates, the low inventory and are placing offers on  some listings as soon as they hit the active market,” said Kevin Kelly, president of the Cincinnati Area Board of Realtors. “February sales are the highest in 6 years. With the number of buyers looking for properties that are priced right and in good condition, the properties seem to sell as fast as they are listed.”

Nationwide, February home sales were up 0.8% from January on a seasonally adjusted basis and were up 10.2 % from February 2012. February home sales marked the 20th consecutive month where home sales – nationwide and statewide – also improved over a year ago.

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