August 2017 home sale update for Cincinnati.

Sales in all four counties during through the end of August 2017 continues to outpace sales compared to same time frame last year.  The current average sale price for single family homes in greater Cincinnati is $208,032 compared to 2016’s $196,655.  A 5.5% increase.

According to the Cincinnati Multiple Listing Service has 5075 homes listed for sale up slightly from last month.

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Sales volume comparing year-to-date in the 4 counties below.  Data pulled from the Multiple Listing Service of Greater Cincinnati:

The CincyMLS covers all the surrounding counties (as far north as Dayton) and sale prices do vary by areas.  Average sale prices continue to climb in all four counties but the shortage of homes for sale continues to cause problems.
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What does this mean? 

In the 4 counties, as the average list price continues to climb the average sale price was $206,635.  So the gap continues to widen between asking and sale prices- something sellers need to watch.  

The actual number of single family home sales in the four counties is well below August 2016.

The lack of new listings continues to impact sales.  Buyers are frustrated looking at the same old stuff.  Sellers, who’ve been on the market for months are frustrated because the property hasn’t sold.  

The final note on August 2017 home sales in Cincinnati update:  

• Price, price, price!  The 3 most important words in Cincinnati real estate. Overpriced listings die a slow death waiting for an offer.
• Home Inspections continue to cause problems.  Sellers need to do pre-sale inspections and fix any problems prior to listing. 
• Thanksgiving and Christmas are around the corner.  Sellers hoping to move before then need review pricing strategy with their Realtor®.

Questions real estate in your city or neighborhood-send a request for a full market evaluation.  Anything else – Call/Txt