Cincinnati Real Estate Market Update

Cincinnati Real Estate Market Update 26Nov2020

Views in every direction from a condo in Mt Adams at the Cloisters.

Happy Thanksgiving everyone! The Multiple Listing Service of Greater Cincinnati released charts updated with the sales data from October 2020. There's a lot of interesting details, but I will focus on two things that were a little surprising.

The number of new listings in the month of October was higher than both August and September. That is very unusual, and hasn't happened in at least 6 years.
Average days on market continue to decline, and homes were selling faster in October than they have at any point earlier in the year. Historically, activity begins to slow somewhat in October, but with the dramatic slow down in March and April, buyers and sellers are playing catch up late in the year.

Also, the number of new pending contracts in October was up +17.2% compared to Oct 2019, which would indicate that closed sales in November and December will be very strong. Buyer interest has not eased; sellers that would traditionally avoid listing homes in December may find the combination of high demand and low supply late this year to be an attractive time to list their home. Please contact me if you have any questions at 513-830-8227 or beppert@pivotrealty.com. I would be happy to discuss further.

Recent posts from my blog:

Why Might Now Be the Wrong Time to Buy a Home?

Analyzing Home Sales Data and School Quality in the Cincinnati Area

Cincinnati Market Activity

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Featured Listing

1718 Bella Vista St, Bond Hill

Maybe you've noticed that I'm a sucker for a Tudor-style home? This one has beautiful hardwood floors, fireplace, and historic details throughout. Only one bathroom as currently configured, but the second floor laundry might be easily converted to a second full bathroom.

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You also reach me at beppert@pivotrealty.com or call (513) 830-8227

Bryan Eppert, Pivot Realty | Website