November 2020 Cincinnati Market Report

November 2020 Home Sales Breaks Record
Avg. Price Up Over Prior Year for 20th Straight Month

November 2020 recorded the most home sales of any November in Greater Cincinnati. Average sales and median pricing continued their ongoing increases. Closings in November exploded, up 13.0% against a strong November 2019 with total sales volume up 25.69%. November 2020 home sales were 2,167 compared to 1,914 in November 2019.

“Real estate activity continued at historic levels in Cincinnati in November,” said Kelly Meyer, President of the Cincinnati Area Board of REALTORS®. “Low levels of inventory, extraordinarily low mortgage interest rates, and continued demand for housing has continued to elevate home prices in comparison to last year.  This unique combination has made it an attractive time for both buyers and sellers.”

The November average home price climbed to $251,501 compared to $226,546 a year earlier, a + 11.02% increase.  At the same time, the inventory of homes for sale, as of November 30, continued its year-over-year declining trend, dropping from 4,032 a year ago to 2,325 in November 2020, down – 42.34 %.

“The Cincinnati housing market continues to be extraordinarily dynamic,” Meyer said.  “The value of a REALTOR® is critical to buyers and sellers in this market.  REALTORS® have been trained to help consumers navigate the market and buy and sell real estate quickly and efficiently.”

Local home mortgage rates in November averaged 2.8% 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 $411.

“REALTORS® will guide real estate buyers and sellers through all the important details involved in buying and selling a home in this dynamic market. Your REALTOR® will lead you through the entire process and is your absolute best source for professional and accurate information. This is a great market to list your home, contact your REALTOR® to determine the best path for you to take” said Meyer.

Call a real estate professional!!  Call Jerome Ball today! 513-808—2579

Nationwide, November home sales were down 2.5% compared to October on a seasonally adjusted basis, but were up 25.8% from November 2019.

September 2020 Cincinnati Market Report

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.

Local home mortgage rates in September averaged 2.87% for a 30-year fixed rate loan.  The rates were down compared to 3.64% 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 $415.

“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 Jerome Ball today! 513-808-2579

Nationwide, September home sales were up + 9.4 % compared to August on a seasonally adjusted basis and were up + 20.9 % from September 2019.

July 2020 Cincinnati Market Report

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 Jerome Ball today! 513-808-2579

Nationwide, July home sales were up + 24.7 % compared to June on a seasonally adjusted basis and were up + 8.7 % from July 2019.

June 2020 Cincinnati Market Report

June Home Sales Down but Strong

Avg. Price Up Over Prior Year for 15th Straight Month

Realtors believed June 2020 home sales would be down as a result of the CoVid19 Stay at Home Order. But sales and median pricing have rebounded. Closings in June were down 7% against a strong June 2019 with total sales volume down only 3.89%. Total sales volume was strong mainly due to the median home price increase of 7.5%.  Home sales this month were 2,524 compared to 2,714 in June 2019.

“We anticipated June closings to be down, but Realtors were pleasantly surprised by the rebound from the April / May period lows of over 25% down from 2019.  June’s performance was a welcome reversal from those downward trends. REALTORS are seeing a very active selling/buying season,” 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. “Showing activity (appointments to see a home) provides us with an early indicator to future home sales in our area. Showing activity, in June, exceeded pre-shutdown levels. This indicates buyers and their Realtors are looking and buying homes. If you want to buy or sell, now is the time to get involved.”

The May average home price climbed to $238,994 compared to $231,499 a year earlier, a + 3.2% increase.  At the same time, the inventory of homes for sale, as of May 31, continued its year-over-year declining trend, dropping from 4,188 a year ago to 2,758 in May 2020, down – 34.2 %.

“Our inventory levels seem to be leveling off in 2020 but are still on a downward trend.  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 June averaged 3.07% for a 30-year fixed rate loan.  The rates were down compared to 3.73% 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 $425.

“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 Jerome Ball today! 513-808-2579

Nationwide, June home sales were up + 20.7 % compared to May on a seasonally adjusted basis and were down – 11.3% from June 2019.

May 2020 Cincinnati Market Report

May Home Sales Down as Anticipated
Avg. Price Up Over Prior Year for 14th Straight Month

It was anticipated that 2020 May home sales would be down due to the Ohio stay-at-home order. They were down – 26.88% compared to a near record May a year ago. Home sales this month were 1,950 compared to 2,667 in May 2019.

“May Home sales were expected to be down under the current COVID restrictions,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “However, real estate in this market has remained strong and very active. Our moderate weather, low interest rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live,” said Meyer. “Showing activity (appointments to see a home) provides us with an early indicator to future home sales in our area. Showing activity, in May, rebounded to pre-shutdown levels. This indicates buyers and their Realtors are looking and buying homes. If you want to buy or sell, now is the time to get involved.”

The May average home price climbed to $238,994 compared to $231,499 a year earlier, a + 3.2% increase. At the same time, the inventory of homes for sale, as of May 31, continued its year-over-year declining trend, dropping from 4,188 a year ago to 2,758 in May 2020, down – 34.2 %.

“Our inventory levels appear to be leveling off in 2020. A strong, active market proves that there are plenty of buyers in the market 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 May averaged 3.15% for a 30-year fixed rate loan. The rates were down compared to 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 $430.

“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 Jerome Ball today! 513-808-2579

Nationwide, April home sales were down – 9.7 % compared to March on a seasonally adjusted basis and were down – 26.6% from April 2019.

March 2020 Cincinnati Market Report

March Home Sales Remain Strong
Avg. Price Up Over Prior Year for 12th Straight Month

2020 March home sales recorded a strong month with sales slightly down – 0.45% compared to March a year ago. Home sales this month were 1,987 compared to 1,996 in March 2019.

“Home sales for the first three months of 2020 are up + 4.45% over the first three months of 2019,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Let’s not sugar-coat this … The next few months will be challenging for everyone, but this too will pass, and real estate will be strong. Our moderate weather, low interest rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live,” said Meyer. “Even during these trying times, there are still plenty of buyers in the market looking to purchase their dream home.”

The March average home price climbed to $231,986 compared to $205,075 a year earlier, a + 13.12% increase. At the same time, the inventory of homes for sale, as of March 31, continued its year-over-year declining trend, dropping from 3,788 a year ago to 3,036 in March 2020, down – 19.9 %.

“During these next months, we anticipate inventory will climb a bit due to buyers, sellers and Realtors being more careful, practicing healthy guidelines,” said Meyer. “There are plenty of buyers in the market and they are ready to jump at great opportunities. Contact your REALTOR to find out how you can prepare your home to sell when the market reopens. “Move in-ready” properties are selling quickly. So, list your property with a Realtor and let the professional help you through these trying times. Greater Cincinnati is a great place for anyone to live and work.”

Local home mortgage rates in March averaged 3.50% for a 30-year fixed rate loan. The rates were down compared to 4.06% 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 $449.

“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 Jerome Ball today! 513-808-2579

Nationwide, March home sales were down – 8.5 % compared to February on a seasonally adjusted basis but were up + 0.8% from March 2019.

February 2020 Cincinnati Market Report

February Home Sales Second Best Ever

Avg. Price Up Over Prior Year for 11th Straight Month

2020 February home sales recorded the second-best year since 2006 with sales up + 6.7% compared to February a year ago.  Home sales this month were 1,571 compared to 1,473 in February 2019.

“The first two months of 2020 have been exceptional posting the highest February sales numbers since 2006,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “We are entering our Spring market and, so far, the market has been robust.  Our moderate weather, low interest rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live.  The next few months will be challenging for everyone, but this too will pass, and real estate will be strong,” said Meyer.

The February average home price climbed to $216,378 compared to $215,861 a year earlier, an + 0.24% increase.  At the same time, the inventory of homes for sale, as of February 29, continued its year-over-year declining trend, dropping from 3,828 a year ago to 2,858 in February 2020, down – 25.3 %.

“Inventory remains low and continues its decline due to an abundance of buyers and more homeowners who locked in low interest rates holding on to their homes longer,” said Meyer.  “There are plenty of buyers in the market and they are ready to jump at great opportunities.  “Move in-ready” properties are selling quickly.  Greater Cincinnati is a great place for anyone to live and work.”

Local home mortgage rates in February averaged 3.49% for a 30-year fixed rate loan.  The rates were down compared to 4.35% 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 $448.

“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 Jerome Ball today! 513-808-2579

Nationwide, February home sales were up + 6.5 % compared to January on a seasonally adjusted basis and were up + 7.2% from February 2019.

January 2020 Cincinnati Market Report

January Home Sales Strong

2020 Starts on a Positive Note

2020 January home sales started the year strong with sales up + 8.3% compared to January a year ago.  Home sales this month were 1,346 compared to 1,246 in January 2019.

“2020 is starting off strong with home sales up over last year,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Soon we will be entering our Spring market.  Our moderate January weather, low interest rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live.  We continue to experience business growth and an influx of young and established families moving into Greater Cincinnati,” said Meyer.

The January average home price climbed to $219,497 compared to $201,760 a year earlier, an + 8.79% increase.  At the same time, the inventory of homes for sale, as of January 31, continued its year-over-year declining trend, dropping from 4,044 a year ago to 3,107 in January 2020, down – 23.2 %.

“The increase of millennials and families wanting to purchase a home is a big factor keeping inventory low,” said Meyer.  “There are plenty of buyers in the market and they are ready to jump at great opportunities.  “Move in-ready” properties are selling 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.

Local home mortgage rates in January averaged 3.72% for a 30-year fixed rate loan.  The rates were down compared to 4.56% 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 $461.

“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 Jerome Ball today! 513-808-2579

Nationwide, January home sales were down -1.3 % compared to December on a seasonally adjusted basis, but were up + 9.6 % from January 2019.

December 2019 Cincinnati Market Report

December Home Sales Soar! 2019 Sales Surpass 2018.

2019 December home sales found strength and soared, up + 11.4% compared to December a year ago.  Home sales this month were 1,861 compared to 1,670 in December 2018.  Total Home Sales for 2019 exceeded 2018 by 0.43% or 25,751 in 2019 compared to 25,641 in 2018.

“2019 ended with the housing market remaining strong and affordable,” said Kelly Meyer, President of the Cincinnati Area Board of Realtors. “Our low interest rates, reasonable prices and a constantly rotating inventory provides us the perfect mix to help keep Cincinnati amongst the most affordable places nationwide to live.  Our  region continues to experience business growth and an influx of young and established families moving into Greater Cincinnati,” said Meyer.

The December average home price climbed to $227,948 compared to $209,545 a year earlier, an + 8.78% increase.  At the same time, the inventory of homes for sale, as of December 31, continued its year-over-year declining trend, dropping from 4,372 a year ago to 3,437 in December 2019, down – 21.4 %.

“Our inventory continues to show decreases each month, but do not be concerned.  The pressure of millennials and families wanting to purchase a home is a big factor keeping inventory low,” said Meyer.  There are plenty of buyers in the market and “Move in-ready” properties are selling 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.

Local home mortgage rates in December averaged 3.66% for a 30-year fixed rate loan.  The rates were down compared to 4.81% 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 $458.

“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 Jerome Ball today! 513-808-2579

Nationwide, December home sales were up + 3.6 % compared to November on a seasonally adjusted basis and were up + 10.8 % from December 2018.

November 2019 Cincinnati Market Report

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.

Local home mortgage rates in November averaged 3.75% for a 30-year fixed rate loan.  The rates were down compared to 4.83% 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 $463.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, November home sales were down -1.7 % compared to October on a seasonally adjusted basis but were up + 2.7 % from November 2018.

October 2019 Cincinnati Market Report

October Home Sales Set Record

Highest number of October Sales in 10+ years

2019 October home sales went gangbusters, up + 7.6% compared to October a year ago, setting a record for October home sales in 10+ years.  Home sales this month were 2,241 compared to 2,083 in October 2018.

“The Greater Cincinnati housing market remains strong and affordable,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “Low rates, reasonable prices and a constantly rotating inventory helps to keep Cincinnati amongst the most affordable places nationwide to raise a family.  Our region continues to witness business growth and an influx of millennials and young and established families moving into Greater Cincinnati, putting pressure on the need for more housing,” said Billings.

The October average home price climbed to $220,848 compared to $213,967 a year earlier, a + 3.22 % increase.  At the same time, the inventory of homes for sale, as of October 30, continued its year-over-year declining trend, dropping from 5,409 a year ago to 4,429 in October 2019, down – 18.1 %.

“A side effect of the influx of millennials and families is low inventory.  As one of many reasons, multiple offer situations continue to occur in this market,” said Billings.  Don’t be too concerned with a low inventory.  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 technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in October averaged 3.64% for a 30-year fixed rate loan.  The rates were down compared to 4.72% 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 $457.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, October home sales were up + 1.9 % compared to September on a seasonally adjusted basis and were up + 4.6 % from October 2018.

September 2019 Cincinnati Market Report

September Home Sales Maintain Momentum
YTD 2019 Home Sales 1.1% behind 2018

2019 September home sales matched and reflected last year’s strong sales, down -0.2% compared to September a year ago.  Home sales this month were 2,119 compared to 2,123 in September 2018.

“Home sales are robust, and the Greater Cincinnati housing market remains strong and affordable,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “Low rates, reasonable prices and a constantly rotating inventory helps to keep Cincinnati very affordable.  This is supported by a recent report by Realtor.com ranking Cincinnati at # 2 amongst the most affordable places nationwide to raise a family.  Once again, Cincinnati stands out as a great place to live and work,” said Billings.

The September average home price climbed to $225,996 compared to $208,060 a year earlier, an + 8.62 % increase.  At the same time, the inventory of homes for sale, as of September 30, continued its year-over-year declining trend, dropping from 5,449 a year ago to 4,586 in September 2019, down – 15.8 %.

“Multiple offer situations continue to occur in this market,” said Billings.  Don’t be too concerned with a low inventory.  This just means that once a property is listed, it tends to sell quickly.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in September averaged 3.64% for a 30-year fixed rate loan.  The rates were down compared to 4.72% 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 $457.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, September home sales were down – 2.2% compared to August on a seasonally adjusted basis and were up + 3.9% from September 2018.

August 2019 Cincinnati Market Report

August Home Sales Slow, but Steady
Average Price Continues to Climb

2019 August home sales were steady but came up short compared to last year’s strong sales, down -3.7% compared to August a year ago.  Home sales this month were 2,528 compared to 2,624 in August 2018.

“The economy remains strong and interest rates continue to decrease, however, home sales this month are down compared to August sales a year ago,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “Low rates continue to drive buyers to purchase. Homes that are priced right and are move-in ready continues to sell quickly in this competitive market. Thus, our inventory remains low,” said Billings.

The August average home price climbed once again to $225,972 compared to $218,521 a year earlier, a  + 3.41 % increase.  At the same time, the inventory of homes for sale, as of August 31, continued its year-over-year declining trend, dropping from 5,423 a year ago to 4,630 in August 2019, down – 14.6 %.

“Multiple offer situations continue to occur in this market,” said Billings.  Don’t be too concerned with a low inventory.  This just means that once a property is listed, it tends to sell quickly.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in August averaged 3.49% for a 30-year fixed rate loan.  The rates were down compared to 4.51% 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 $448.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, August home sales were up +1.3% compared to July on a seasonally adjusted basis and were up +2.6% from August 2018.

July 2019 Cincinnati Market Report

July Home Sales Gain Momentum
YTD 2019 Sales Mimic 2018

2019 July home sales kept pace compared to last year’s strong sales, down – 1.5 % compared to July a year ago.  Home sales this month were 2,518 compared to 2,557 in July 2018.

“July home sales were brisk and kept pace with home sales compared to July 2018,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “As we’ve seen recently, interest rates continue to lessen due to the strength of the economy.  The market remains fast-paced where homes priced right that are move-in ready are selling quickly.  Thus, our inventory remains low,” said Billings.

The July average home price climbed to $240,974 compared to $224,342 a year earlier, a +7.41 % increase.  At the same time, the inventory of homes for sale, as of July 31, continued its year-over-year declining trend, dropping from 5,257 a year ago to 4,497 in July 2019, down – 14.5 %.

“Multiple offer situations occur more frequently than not in this market,” said Billings.  Don’t be too concerned with a low inventory.  This just means that once a property is listed, they tend to be selling quickly.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in July averaged 3.73% for a 30-year fixed rate loan.  The rates were down compared to 4.55% 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 $462.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, July home sales were up + 2.5 % compared to June on a seasonally adjusted basis and were up + 0.6% from July 2018.

June 2019 Cincinnati Market Report

June Home Sales Sluggish, Average Price Continues to Climb

2019 June home sales slowed compared to last year’s strong sales, down – 5.0 % compared to June a year ago.  Home sales this month were 2,682 compared to 2,823 in June 2018.

“Home sales this month were sluggish compared to June 2018,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “Due to the strength of the economy, interest rates continue to lessen.  Low rates continue to drive buyers to purchase, hence the fast-paced market where homes priced right that are move-in ready are selling quickly.  Thus, our inventory remains low,” said Billings.

The June average home price climbed once again to $244,750 compared to $233,542 a year earlier, a  + 4.80 % increase.  At the same time, the inventory of homes for sale, as of June 30, continued its year-over-year declining trend, dropping from 4,986 a year ago to 4,386 in June 2019, down – 12.0 %.

“Multiple offer situations occur more frequently than not in this market,” said Billings.  Don’t be too concerned with a low inventory.  This just means that once a property is listed, they tend to be selling quickly.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in June averaged 3.73% for a 30-year fixed rate loan.  The rates were down compared to 4.55% 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 $462.

“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 Billings.

Call a real estate professional !!  Call a Jerome Ball today! 513-808-2579

Nationwide, June home sales were down – 1.7 % compared to May on a seasonally adjusted basis and were down – 2.2% from June 2018.

April 2019 Cincinnati Market Report

2019 April home sales rebounded, up + 6.5 % over last year’s levels, compared to April a year ago.  Home sales this month were 2,370 compared to 2,225 in April 2018.

“Home sales this month rebounded nicely, bringing our year-to-date sales just about 100 sales short of a very strong 2018,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. “We are well into the Spring Market. Low interest rates coupled with a growing number of potential buyers, this is an opportune time to sell your property or buy your dream home,” said Billings.

The March average home price climbed once again to $222,036 compared to $215,653 a year earlier, a  + 2.96 % increase.  At the same time, the inventory of homes for sale, as of April 30, continued its year-over-year declining trend, dropping from 4,275 a year ago to 3,942 in April 2019, down – 7.8 %.

“For a property in move-in condition and priced reasonably in today’s market, we are still seeing multiple offer situations,” said Billings.  Don’t be too concerned with a low inventory.  This just means that as sellers list their property, they tend to be selling quickly.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, April home sales were down -0.4% compared to March on a seasonally adjusted basis and were down -4.4% from April 2018.

March 2019 Cincinnati Market Report

March Home Sales Sluggish
Average Price takes First Dip in 32 Consecutive Months

2019 March home sales were sluggish, down – 5.5 % behind last year’s levels, compared to March a year ago.  Home sales this month were 1,980 compared to 2,096 in March 2018.

“Despite home sales for the first quarter of 2019 being off 5% compared to the same period last year, which equals 250 sales, the Cincinnati real estate market remains robust,” said Michelle Billings, President of the Cincinnati Area Board of Realtors. We are just getting into the Spring Market. There is an abundance of buyers and with interest rates remaining low, this is an opportune time to list or sell your property. For a property in move-in condition and priced reasonably in today’s market, we are still seeing multiple offer situations,” said Billings.

The March average home price dipped for the first time in 32 consecutive months to $204,372 compared to $206,182 a year earlier, a – 0.88 % decrease.  At the same time, the inventory of homes for sale, as of March 31, continued its year-over-year declining trend, dropping from 4,033 a year ago to 3,788 in March 2019, down – 6.07 %.

“Greater Cincinnati has been ranked highly by a number of sources for first-time home buyers, for retirees, for Millennials, for families and for housing affordability,” said Billings.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordable housing, Greater Cincinnati is a great place for anyone to live and work.

Local home mortgage rates in March averaged 4.35% for a 30-year fixed rate loan.  The rates were down compared to 4.44% 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 $498.

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, March home sales were down – 4.9% compared to February on a seasonally adjusted basis and were down – 5.4% from March 2018.

February 2019 Cincinnati Market Report

Average Price Sets Record for 32 Consecutive Months

2019 February home sales were steady, but are behind last year’s levels, down – 2.5 % compared to February a year ago.  Home sales this month were 1,464 compared to 1,501 in February 2018.

“Even though home sales this month were down compared to last year, February 2019 had the second most sales of any February in more than 10 years,” said Michelle Billings, President of the Cincinnati Area Board of REALTORS®.  “Since there are plenty of buyers and with the interest rates remaining low, this makes it a great time to list or sell your property. A property in move-in ready condition and priced reasonably, in today’s market, should be a perfect scenario to sell quickly,” said Billings.

The February average home price climbed to $215,342 compared to $188,755 a year earlier, a + 14.09 % increase.  At the same time, the inventory of homes for sale, as of February 28, continued its year-over-year declining trend, dropping from 4,027 a year ago to 3,828 in February 2019, down – 4.94 %.

“Cincinnati was recently ranked 6th out of the 50 biggest metros in the USA, by Bankrate.com, for being one of the top areas for first-time homebuyers.  This ranking was based on affordability, culture, job market and safety. Cincinnati was the only Ohio Metro area that made the top 10 list,” said Billings.  With low interest rates, unemployment at or near the national average, the influx of good-paying technical jobs and very affordability housing, Greater Cincinnati is a great place for first-time homebuyers and families to reside.

Local home mortgage rates in February averaged 4.46% for a 30-year fixed rate loan.  The rates were down compared to 4.57% 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 $504.

“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 Billings.

Call a real estate professional !!  Call a Jerome Ball today! 513-808-2579

Nationwide, February home sales were up 11.8% compared to January on a seasonally adjusted basis and were down – 1.8% from February 2018.

January 2019 Cincinnati Market Report

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.

Local home mortgage rates in January averaged 4.46% for a 30-year fixed rate loan.  The rates were down compared to 4.57% 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 $504. 

“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 Billings.

Call a real estate professional !!  Call Jerome Ball today! 513-808-2579

Nationwide, January home sales were down – 1.2% compared to December on a seasonally adjusted basis and were down – 8.5% from January 2018.

December 2018 Cincinnati Market Report

December Home Sales Sluggish 
Average Price Sets Record for 30th Consecutive Month 

The momentum of 2018 home sales slowed considerably in December compared to last year’s levels, down – 10.5 % compared to December a year ago. Home sales this month were 1,655 compared to 1,849 in December 2017. As for 2018, homes sales kept pace with a very strong 2017, down only -1.6% for the year.

“Despite the slow sales in December 2018 home sales remained one of the top three strongest in over 10 years,” said Michelle Billings, President of the Cincinnati Area Board of REALTORS®. “Even in the winter months, interest rates remain low and there are plenty of buyers. This is a great time to list and sell your property. 2019 looks to be a great year for home sales as well,” said Billings.

The December average home price climbed to $209,105 compared to $198,458 a year earlier, a + 5.36 % increase. At the same time, the inventory of homes for sale, as of December 31, reversed its year-over-year declining trend, climbing a slight amount from 4,360 a year ago to 4,372 in December 2018, up + 0.28 %.

“Affordable, accessible, attractive. These are just a few terms that best describe Greater Cincinnati and are some of the reasons why the housing inventory is turning over quickly,” said Billings. “In 2018, Cincinnati was among the top 50 on the list of Best Places to Live according to rankings from U.S. News and World Report. They stated that Cincinnati is very affordable, great for job prospects and quality of life. So, if your home is in move-in ready condition and priced reasonably, in today’s market, there is great opportunity for it to sell quickly,” said Billings.

Local home mortgage rates in December averaged 4.81% for a 30-year fixed rate loan. The rates were up compared to 3.95% 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 $525.

“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 Billings.

Call a real estate professional !! Call Jerome Ball today! 513-808-2579

Nationwide, December home sales were down – 6.4% compared to November on a seasonally adjusted basis and were down – 10.3% from December 2017.