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Fewer Homes for Sale in Cincinnati while Listing Prices Rise
The number of homes for sale in Cincinnati fell in January, while the average listing price increased by 1.18%.
The average price of homes for sale was $174,003, which was up from $171,952 in December. However, the median price of homes for sale - the number at which half of the homes listed for sale were for more and half were for less - decreased 0.26% to $101,651.
"The year-over-year increase in sales for the month of December was 5%. The active inventory declined year-over-year by 13%," said Doug Leugers from Leugers Real Estate Experts who released the report. "These are strong indicators that market is improving."
The prices varied according to the size of the homes
- 2 bedroom - $143,735 - an increase of 0.7% from December
- 3 bedroom - $168,374 - an increase of 1.47% from December
- 4 bedroom - $182,136 - an increase of 0.9% from December
- 5 bedroom - $294,592 - a decrease of 4.8% from December
The average home for sale has 2 bedrooms and 2.19 bathrooms.
Doug Leugers and the Leugers Real Estate Experts are Real Estate Professionals in the Greater Cincinnati & Northern Kentucky area.