May 2014 recorded the second highest number of homes sold in Cincinnati in the past seven years with 2,053 homes closed and sold. (May 2013 recorded 2,296 sold homes.) There was a 4.07% increase in the average price of homes sold in May as compared to May 2013.
Great Time To List Your Home To Sell
The inventory of homes on the market to sell has declined. There were 9,622 homes for sale versus 10,386 in May 2013, representing a 7.4% decrease. It’s a great time to list a home to sell since there is less competition and mortgage rates are still low.
Home Sold Statistics – May 2014 versus May 2013
- -1.87% Decrease Homes Sold (2,053 vs 2,296)
- 2.12% Increase in Sales Volume
- 4.07% Increase in Average Price ($182,918 vs $175,762)
Year-To-Date Statistics – January – May 2014 versus January – May 2013
- -2.15% Decrease Homes Sold (8,643 vs 8,457)
- 3.02% Increase in Sales Volume
- 5.28% Increase in Average Price ($165,265 vs $156,970)
Nationally, home sales were up 4.9% from April 2014, but down 5% from May 2013.
Statistics Source: Cincinnati Area Board of Realtors May 2014 Home Sales Report