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Home Sales Slip, but Remain Strong

November 27, 2017 Star One Realtors Leave a comment

Average Price Sets Record for 16th Consecutive Month

October home sales remain strong, but couldn’t reach last year’s levels, down – 6.73 % compared to October a year ago. Home sales this month were 2,052 compared to 2,200 in October 2016. “The average price of homes set another new record for the month of October, extending our consecutive record months to sixteen,” said David Welch, President of the Cincinnati Area Board of REALTORS®. “Home sales remain strong and, from all indications, should remain strong through the end of this year,” said Welch.

The average home price climbed to $199,616 compared to $194,086 a year earlier, a + 2.85 % increase.
At the same time, the inventory of homes for sale, as of October 31, continued its year-over-year declining
trend to 5,491 from 6,244 a year ago, down – 12.06 %.

“Inventory is low; interest rates remain low; the average price of property, in general, continues to rise and the economy appears to be strong. We are in “the perfect storm.” Property that is in “move-in” ready condition in a desired location is selling quickly, sometimes with multiple offers. We have buyers that are ready to purchase the home of their dreams. If you are thinking about selling your home, list it with a Realtor today,” said Welch.

Local home mortgage rates in October averaged 3.94% for a 30-year fixed rate loan. The rates were up
compared to 3.51% 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 $474.

“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 them through the entire process and is your absolute best source for professional and accurate information,” said Welch.

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

Nationwide, October home sales were up + 2.0 % from September on a seasonally adjusted basis, but were down – 0.9 % from October 2016.

American Dream, April Sales, average sale price, buy now, buyers, buying home, Cincinnati, Cincinnati Board of Realtors, Cincinnati housing, commission, Greater CIncinnati Homes, Hamilton County, home price, home prices, home sales, homeownership, Homes, homes for sale, homes sales, house for sale, houses for sale, Housing survey, information online, Kenton County, listings, MLS, MLS Listings, real estate, realtor, Realtors, Star One, Star One Realtors, Warren County

April Home Sales Strong, but takes a Break

May 25, 2017 Star One Realtors Leave a comment

April Home Sales Strong, but takes a Break
Average Price for April sets another record

April home sales were strong, but could not maintain a record setting pace, down – 10.29 % compared to April a year ago. Home sales this month were 2,119 compared to 2,362 in April 2016.

“Even though inventory remains low, 2017 home sales remain strong,” said David Welch, President of the Cincinnati Area Board of REALTORS®. “The real estate market is not showing any signs of slowing down and will probably continue at this pace for some time,” said Welch.

The average home price climbed to $204,254 compared to $186,436 a year earlier, a + 9.56 % increase. At the same time, the inventory of homes for sale, as of April 30, continued its year-over-year declining trend to 4,885 from 6,436 a year ago, down – 24.10 %.

“The average price of homes set a new record for the month of April, extending our consecutive record months of average home sale prices to eleven. Even though interest rates are climbing ever slightly, low inventory along with 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 April averaged 4.19% for a 30-year fixed rate loan. The rates were up compared to 3.60% 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 $488.

“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 them 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, April home sales were down – 2.3 % from March on a seasonally adjusted basis and were up + 1.6 % from April 2016.

Greater Cincinnati Home Sales Remain Strong!

October 20, 2016 Star One Realtors Leave a comment

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!

home prices, Homes, homes sales

Home Sales Continue Upward Trend

March 22, 2013 Star One Realtors Leave a comment

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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December Sales Highest in 6 Years

January 22, 2013 Star One Realtors Leave a comment

December Sales Highest in 6 Years

The Cincinnati Area Board of Realtors reports that the Cincinnati home sales (closings) ended the year on a 5-year high. 2012 year-end home sales totaled 18,988 compared to 16,854 from a year ago; up over 12%. Local home sales in December, the highest in 6 years, totaled 1,378 units compared to 1,308 a year ago; a 5.3% increase. It represents 18 consecutive months of increased sales.

Last month’s average home selling price was $153,615 vs. $146,014 a year earlier, for a 5.2%
increase. The average price has increased year-over-year for ten consecutive months. For year-end 2012, the average sale price was up 3.2%; $156,201 compared to $151,428 for 2011.

Local home mortgage rates in December averaged 3.41% for a 30-year fixed rate loan. That’s
down from 4.00% a year ago. The difference represents a $456 yearly savings on a $100,000 home loan, which enhances home affordability. Inventory of homes for sale continued its declining trend to 9,376 from 10,837 a year ago, down 13.5%. 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.

Nationwide, December home sales were down 1.0% from November on a seasonally adjusted
basis, but were up 12.8 % from December 2011. December home sales marked the 18th consecutive
month where home sales – nationwide and statewide – also improved over a year ago.

Home Sales Continue Upward Trend; February Sales Highest Since 2007

December Sales Highest in 6 Years

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