Cincinnati home sales surged this April compared to April 2013, and were higher yet compared to 2013. While the rest of the country continues to see a tepid and slowing housing recovery Cincinnati is seeing a strong and sustained line of growth. This year we are saw a 4.5% increase in closed deals in April versus 2013. This marked a total closed volume of 2,022.
The best news of all is that new listings increased by 8%. This is critical to sustaining the recovery. Home buyers need homes to purchase and the slow down slowed down interest of sellers want to list their homes. The jump in listing volume is going to extend the growth and should give more home sellers confidence in listing their homes. To complement those additional listings – prices are also up. The March average home selling price climbed to $166,025 vs. $156,676 a year earlier, a 6.0% increase. The average price has increased year-over-year for 26 consecutive months