August Sales Cincinnati Ohio Market Update
According to the Cincinnati Area Board of Realtors
August home sales (closings) by Realtors in Southwest Ohio — at 1,327 units –surpassed the 1,309 sales in July. That’s a positive for the current market, as August sales lagged July volume the previous two years:
August 2010 home sales compared to July 2010: + 1.4%
August 2009 home sales compared to July 2009: -8.87%
August 2008 home sales compared to July 2008: -4.82%
The average sale price also improved. It was $172,203 last month when compared with $164,382 during July and $161,403 in August 2009. Research of August home prices regionally shows last month being the very first August uptick during the last six years. The August high was $184,952 in 2005.
The current market continues to send out varying indicators. What we do know for sure is this. Homes are very affordable right now and interest rates are incredibly low.