The Cincinnati Area Board of Realtors reported the following information today which is great news for homeowners in the Cincinnati area.
Cincinnati saw double-digit increases in home sales last month, up nearly 19%. Local home sales in October totaled 1,646 units compared to 1,388 a year ago. This is the 16th consecutive month of increased sales in our local real estate market.
What is important is that in October there were 1,905 pending home sales, up 24% over a year ago at 1,538. Since pending sales are an indicator of closing volume over the next 30 to 60 days we expect to see a lot of closings in the end of the year.
Last month’s average home selling price was $151,768 vs. $143,123 a year earlier, for a 6%
increase. Year-to-date, average sale price is up 2.8%. The average price has increased year-over-year for eight consecutive months which is a positive sign for anyone looking to sell their home in the near future.
With prices rising and sales increasing, if you are considering selling your home now is a great time. Please contact me at 513-518-1140 for a home market analysis free of charge.