The median existing home sales price climbed 7.8% from a year ago. The active inventory in Greater Cincinnati market is up 30.2% in May. Homes continue to sell quickly and seller’s continue to receive high equity gains.

December 2020 Home Sales Breaks Record
Avg. Price Up Over Prior Year for 20th Straight Month
December 2020 recorded the most home sales of any December in Greater Cincinnati. Average sales and median pricing continued their ongoing increases. Closings in December exploded, up 21.04% against a strong December 2019 with total sales volume up 35.66%. December 2020 home sales were 2,267 compared to 1,873 in December 2019.

“December real estate activity capped a historic year for the region,” said Stephanie Sudbrack-Busam, President of the Cincinnati Area Board of REALTORS®. “Despite a dip during the initial stages of the COVID-19 pandemic, real estate sales and prices continued record setting levels. Cincinnati has now seen average price increases over the previous year for twenty consecutive months.”

The December average home price climbed to $254,705 compared to $227,242 a year earlier, a + 12.09% increase. At the same time, the inventory of homes for sale, as of December 30, continued its year-over-year declining trend, dropping from 3,437 a year ago to 2,001 in December 2020, down – 41.78 %.

“Since the Cincinnati housing market continues to be extraordinarily dynamic, the value of a REALTOR® is even more beneficial.” Sudbrack-Busam said. “REALTORS® have been trained to help consumers navigate the market and buy and sell real estate quickly and efficiently.

Local home mortgage rates in December averaged 2.72% for a 30-year fixed rate loan. The rates were down compared to 3.66% 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 $407.

“REALTORS® are trained to guide real estate buyers and sellers through all the important details involved in buying and selling a home in this dynamic market. Your REALTOR® is your absolute best source for professional and accurate information to help consumers navigate the market,” said Sudbrack-Busam.

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

Nationwide, December home sales were up 0.7% compared to November on a seasonally adjusted basis and were up 22.2% from December 2019.

September 2020 Home Sales Breaks Record
Avg. Price Up Over Prior Year for 18th Straight Month

September 2020 recorded the most home sales of any September in Greater Cincinnati. Average sales and median pricing continued their ongoing increase. Closings in September exploded, up 21.0% against a strong September 2019 with total sales volume up 36.51%. September 2020 home sales were 2,582 compared to 2,133 in September 2019.

“The real estate market in Cincinnati is “CRAZY BUSY” as 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 was recently rated as the second-fastest market for selling homes 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 September average home price climbed to $255,093 compared to $226,210 a year earlier, a + 13% increase.  At the same time, the inventory of homes for sale, as of September 30, continued its year-over-year declining trend, dropping from 4,586 a year ago to 2,506 in September 2020, down – 45.4 %.

“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.

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
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 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
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.