The Cincinnati MLS Monthly Solds show the wild swings this market is going through. As the chart below shows, the market shows promising signs for a period and then it turns around and shows us it’s bad side. We see that April of this year increased by 474 over April of 2009. Whereas July 2010 decreased by 717 from July 2009.
Early in the year, it looked like 2010 was going to improve over 2009 in number of solds, but now I would forecast that we will end up between 18,200-18,500 total sales for 2010. This prediction puts the Cincinnati MLS market below the 18,821 that sold in 2009 and the 18,808 that sold in 2008.
In September 2009 the Cincinnati MLS closed 1,839 residential sales. I will be interested to see what the final numbers are for September 2010 in Solds. Right now we are 237 sales behind last year, 2009. We are in a Strong Buyer’s Market. The number of properties on the market is starting to decline, which is good for those sellers on the market, less competition. Absorption Rates have increased, but in some areas the absorption rate is good for the sellers.