Cincinnati Real Estate Market Update

Cincinnati Real Estate Market Update 31Oct2019

Withrow Nature Preserve

The Cincinnati Area Board of Realtors released charts incorporating the September 2019 sales data recently. I have chosen three of the charts since these are interrelated, and demonstrate some of the consequences of the seasonality in the real estate market.

In the first chart, Aug and Sep 2019 had the highest levels of active residential inventory so far in 2019. This in spite of a seasonal decline in new listings of about 17% since the peak in June 2019 (chart not shown).
The second chart explains why inventory is up. Sales are down approximately 20% since the June 2019 peak as buyer activity slows moving into fall and winter.
As a consequence, prices are also down about 8% in the third chart, meaning homes can be purchased today at prices similar to peak season last year.

What does this mean?

If you're a buyer, this is a great time to be shopping; sellers are generally more motivated and prices are lower. You are competing against fewer buyers so multiple offers are less likely.
If you're a seller, you face a dilemma. Sell now or wait until Spring? A comprehensive and multifaceted marketing plan is essential to ensure you capture the attention of as many buyers as possible. Just listing on the MLS is never an option, especially during this time of year.

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Featured Listing

2604 Briarcliffe Ave, Pleasant Ridge

Beautiful backyard garden and charming features throughout this Colonial home.

Local Favorite of the Week

Little Miami Scenic Trail

The Little Miami Scenic Trail is also known as the Loveland Bike Trail. Now extending from Newtown to Springfield, OH for a total distance of nearly 80 miles. Next year I'm planning to ride my first century, or 100 miles in a day, going from Milford to Xenia and back in a day. This is one of the better trails in the country, and it's right in our backyard.

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Bryan Eppert, Pivot Realty | Website