Cincinnati Home Sales Volume up 5 Percent for February

Houses market
Home sales volume increased 5.06% in February for Cincinnati, Ohio. Sales units for the month were down slightly from last year. Harsh weather conditions during February made it difficult for the public to get out to look at homes for sale. During this winter season, 41.2 inches of snow fell from December through February (the second highest on record for a Meteorological Winter) and 46.1 inches of snow fell from during fall, winter (and spring to date). (Stats from the National Weather Service Forecast Office.)

February 2014 versus February 2013

  • -3.35% Decrease in Sales Units (1,298 versus 1,343)
  • 8.70% Increase in Average Sale Price ($155,548 versus $143,094)
  • 5.06% Increase in Sales Volume

Year-To-Date Jan-Feb 2014 versus Year-To-Date Jan-Feb 2013

  • -5.14% Decrease in Sales Units (2,510 versus 2,646)
  • 3.15% Increase in Sales Volume
  • 8.74% Increase in Average Price Sold ($154,184 versus $140,877)

The average price for homes has increased year-over-year for 24 consecutive months and now stands at $155,548.

Inventory of Homes
The inventory of homes in February was down 9.0% from last February. February 2014 inventory remained the same compared to January 2014. Homes for sale (when priced competitively and move-in ready), are in a position to sell faster.

CABR_FEb

Statistics Source: CABR Home Report – February 2014

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