December 2017 Home Sales Report for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana

HomeSales_Dec2017.jpgMany homes are still selling quickly due to low inventories of homes for sale. Mortgage interest rates remain low. Here are the sales statistics for December 2017 for Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana:

Cincinnati
2017 home sales in the Cincinnati market were the third highest ever, The average sale price set a record for the 18th consecutive month.

December 2017 vs December 2016

  • -5.10% Decrease in homes sold (1,843  homes vs 1,942 homes)
  • 4.06% Increase in average sale price ($198,356 vs $190,625)
  • 3,54% Increase in median sale price ($155,000 vs $149,700)
  • -1.25% Decrease in gross sales volume ($365,570,748 vs $370,193,954)

January –December 2017 vs January –December 2016

  • -.60 % Decrease in homes sold (25,984 homes vs 26,142)
  • 5.90% Increase in average sale price ($202,169 vs $190,908)
  • 6.65% Increase in median sale price ($162,000 vs $151,900)
  • 5.26% Increase in sales volume ($5,253,152,330 vs $4,990,705,016)

Statistics courtesy of Cincinnati Area Board of Realtors December 2017 Home Sales Report

Dayton
In the Dayton market area, the number homes sold, average sale price, median sale price and sales volume all increased for 2017.

December 2017 vs December 2016

  • 1.50% Increase in homes sold (1,219 homes vs 1,201 homes)
  • 2.65% Increase in average sale price ($152,965 vs $149,014)
  • 5.59% Increase in median sale price ($134,000 vs $126,900)
  • 4.19% Increase in sales volume ($186,464,350 vs $178,966,344)

January –December 2017 vs January –December 2016

  • 1.18% Increase in homes sold (15,036 homes vs 14,861)
  • 5.73% Increase in average sale price ($155,822 vs $147,380)
  • 5.93% Increase in median sale price ($134,000 vs $126,500)
  • 6.97% Increase in sales volume ($2,342,944,306 vs $2,190,213,703)

Statistics courtesy of Dayton Area Board of Realtors December 2017 Home Sales Report

Northern Kentucky
For 2017 home sales and prices were the highest ever in Northern Kentucky!

December 2017 vs December 2016

  • -14.18% Decrease in homes sold (484 homes vs 564 homes)
  • 6.65% Increase in average sale price ($180,504 vs $169,244)
  • 8.95% Increase in median sale price ($158,250 vs $145,250)
  • -8.47% Decrease in sales volume ($87,364,224 vs $95,453,623)

January –December 2017 vs January –December 2016

  • .88% Increase in homes sold (7,136 homes vs 7,704)
  • 3.72% Increase in average sale price ($180,669 vs $174,188)
  • 4.88% Increase in median sale price ($157,320 vs $150,000)
  • 4.63% Increase in sales volume ($1,289,259,157 vs $1,232,210,182)

Statistics courtesy of Northern Kentucky Association of Realtors December 2017 Home Sales Report

Southeastern Indiana
2017 was a record year for SEIBR in several categories. The 1,225 homes sold surpassed the previous record of 1168 set in 2015. Both Average and Median Sale Price set new records at $158,858 and $145,000 respectively. This represents a 4.1% and 4.7% increase from the prior and previous record year. Sales Dollar Volume reached $194.6 Million a 10.4% increase from last year’s record of $175.7 Million.

2017 is the second year in a row that both average and median sale prices have been above the pre-depression levels of 2005 and 2006.

Price appreciation (based on median sale price) began in 2010 and has average 4.1% over that period.  Price depreciation during the depression years from 2007 through 2009 was 24.3% averaging 8.1% per year in depreciation.

Although we have recovered to the pre-depression levels, and 2017 resulted in a median sale price 6.3% above the 2005 level, the average appreciation for the past eleven years in only 0.8%.  Those who purchased at the top of the speculative market in 2005 and 2006 have finally reached “equilibrium”.  Those who purchased at the bottom of the market have realized significant equity growth.

December 2017 vs December 2016

  • -1.1% Decrease in homes sold (91 homes vs 92 homes)
  • 9.3% Increase in average sale price ($164,677 vs $150,613)
  • 15.4% Increase in median sale price ($152,900 vs $132,500)
  • 8.1% Increase in sales volume ($14,985,623 vs $13,856,356)

January –December 2017 vs January –December 2016

  • 6.4% Increase in homes sold (1,225 homes vs 1,151 homes)
  • 4.1% Increase in average sale price ($158,858 vs $152,668)
  • 4.7% Increase in median sale price ($145,000 vs $138,503)
  • 10.7% Increase in sales volume ($194,600,774 vs $175,720,980)

Statistics courtesy of Rick McMillin – Southeastern Indiana Board of Realtors MLS Homes Sold Report dated January 9, 2018

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