In March 2014, the average home price increased by 9.72% in Cincinnati, Ohio. However, home sales were down by 8% as compared to March 2013. The winter of 2013/2014 continued into the third week of the month with freezing temperatures and snow.
Inventory of Homes
The inventory of homes available for sale on the market is low and is down 8.2% from the same time last year. (On the positive side, the March 2014 inventory of homes increased by 2.8% as compared to February 2014.)
It’s a great time to sell your home with low inventory of homes for sale and home prices starting to rise.
March 2014 versus March 2013
- 9.72% Increase in Average Sale Price ($172,227 versus $156,973)
- 7.98% Decrease in Sales Units (1,625 versus 1,766)
- .96% Increase in Sales Volume
Nationally, home sales were down 7.5% from 2013.
January-March 2014 versus January-March 2014
- 8.99% Increase in Average Sale Price ($160,569 versus $147,320)
- 5.85% Decrease in Sales Units (4,154 versus 4,412)
- 2.62% Increase in Sales Volume
Statistics source: Cincinnati Area Board of Realtors March 2014 Home Sales Report