When we addressed Cincinnati market conditions July 2009, we cited reports that declared the home affordability in Cincinnati to be at an unprecedented advantage to buyers. Perhaps unfortunately, the same can’t be said for Cincinnati real estate market conditions August 2009 – not exactly, anyway. How so?
According to the latest data, the median price of the overall inventory rose 1.5% since July. However, the figures remain the same for new homes and foreclosed properties. So, depending on what type of home you’re seeking, the news may be good – or, it could be better. The figures look like this:
Inventory
Homes for Sale: 2,462
New Homes: 5
Foreclosures: 2,504
Median Price
Homes for Sale: $139,900
New Homes: $225,000
Foreclosures: $58,000
Month-Over-Month Change
Homes for Sale: 1.5%
New Homes: 0%
Foreclosures: 0%
Ready to look at homes for sale in Cincinnati? Call up a reputable, established agent who has a firm grasp on the area to get started.