Yes, you've read it correctly, Cincinnati Home Values have risen almost 7% when comparing April sales in 2013 to April sales 2014.
Check out the charts created below from the Cincinnati Multiple Listings Service (a subsidiary of the Cincinnati Area Board of Realtors). The average sale price in April 2013 was $156,743 compared to $167,393 in April 2014.
How does this happen? We are seeing two changes in the Cincinnati Housing market. The first, residential inventory is down 9.03 percent (from 10,148 units to 9,232 units). The second, lender involved pending sales (shadow inventory) is down 39.5%. Buyers now have fewer foreclosures to choose from and must buy from stingier sellers.
Author:Jon DeCurtins Phone: 513-600-7231 Dated: May 8th 2014 Views: 1,094 About Jon: Jon is the Lead Agent for "The DeCurtins Team," one of Cincinnati's top real estate teams. The DeCur...
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