Cincinnati Home Prices 08/07 Vs. 07/06

If you watch the news to often you hear the consistent drone that home prices are down! The real estate market is in the tank! Well that may be true in some areas but not all. The fact is that in select Cincinnati neighborhoods the average SOLD price is up 20% or more including parts of Amberley, Indian Hill, and Mariemont. The area around Symmes Township and Dry Run / Mt. Carmel have seen better than 9% increase in sold price.

On the other hand some zip codes drop in sold prices up to 25% in the same time period. There could be dozens of reasons for this including tax abatements, inflation, inventory, and normal cyclical changes in neighborhoods. Paramount is that when looking for a home or an investment property your agent has a sense of the overall market trends in that particular area. Nothing is ever a guarantee for valuation but this is the kind of information you should ask for and expect from a real estate professional.

The accuracy of information in this post is dependent on the MLS system for time periods. The analysis included 31 zip codes comparing the previous 6 months with the same six month period one year prior. The analysis is a useful tool for estimating value trends and is not guaranteed to be applicable to all properties in the areas aforementioned.

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