4.6 Months Housing Supply (5.4 Months, March 2014)
42% of homes sold were on the market for less than a month. (March 2014, 38%)
30% were on the market 4 months or longer. (March 2014, 32%)
Average DOM* for Sales
Seller’s Market When housing supply drops below 5-6 months, it is considered a Seller’s market. Check out what’s happening in your neck of the woods!
Single Family 90 Days Condo 120 Days *Days on Market
Lender-Involved Sales Bank-Owned (REO) Pre-Foreclosure Short Sales
20% Source of Purchase Funds 26% Cash
Sales Up 6% As Compared To April 2013
50% Conventional 17% FHA 4% VA 3% Other
Average Sales Price $165,615 Up 6% Over April 2013
Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of April 30, 2014 Source: Multiple Listing Service of Greater Cincinnati, Inc. Copyright© Karen Schlosser April 2014
Residential Average Sales Price Single Family & Condominiums 2012-2014 YTD SOURCE: All Market Areas in Multiple Listing Service of Greater Cincinnati, Inc. $190,000 $180,000 $170,000 $160,000
$151,000
$158,689 $155,408
$165,615
$150,000 $140,000 $130,000 $120,000
JAN
FEB
MAR
APR
MAY
2014
JUN 2013
JUL
AUG
SEP
OCT
NOV
DEC
2012
Sound of Music To Sellers…Average sales price continues to rise above both the 2013 and 2012 mark, name that tune!. 2009-2014 YTD Number of Months of Housing Supply Source: Multiple Listing Service of Greater Cincinnati, Inc.
15 14 13 12 11 10 9 8 7 6
A "balanced" market is considered between 5-6 months of inventory.
5 4 3
JAN
FEB
MAR
2014
APR
MAY
2013
JUN
2012
JUL
2011
AUG
SEP
2010
OCT
NOV
DEC
2009
Honey, the housing inventory has shrunk! Housing supply continues to shrink from past years dropping to 4.6 months which indicates a swing in the seller’s favor, better known as a seller’s market. Buyers Beware…you may have to pay more for the home of your dreams! Copyright© Karen Schlosser April 2014
Active Residential Inventory (Single Family & Condominium) January - December 2005-2014YTD Source: Multiple Listing Service of Greater Cincinnati, Inc.
19,000 18,000 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000
8,529
8,547
8,789
JAN
FEB
MAR
2014
2013
9,232
APR
2012
MAY 2011
JUN 2010
JUL 2009
AUG 2008
SEP
OCT
2007
NOV
2006
DEC 2005
Wanted: More Neighbors! That’s one message you can read from the increase of inventory, although not nearly as many as there were in the last 10 years. Residential (Single Family & Condo) Unit Sales 2009-2014 YTD Source: Multiple Listing Service of Greater Cincinnati, Inc. NOTE: There was a tax credit from April 9, 2008*- April 30, 2010 *This tax credit was instituted in November 2008 and retroactive
3000 2500
2027 2000 1500
1639 1,208
1,301
1000 500
Jan
Feb
Mar 2014
Apr
May 2013
Jun 2012
Jul 2011
Aug 2010
Sep
Oct
Nov
Dec
2009
UP…a one-word descriptor of the number of residential sales in the Greater Cincinnati area in April 2014, up 6% over last year! Copyright© Karen Schlosser April 2014
Residential Sales - Single Family March 2014 Source: Multiple Listing Service of Greater Cincinnati, Inc. Selling Price Range
# of Homes Sold
Residential Sales - Condominium March 2014 Source: Multiple Listing Service of Greater Cincinnati, Inc. # of Selling Price Range Homes Sold
$19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $350,000 thru $399,999 $400,000 thru $449,999 $450,000 thru $499,999 $500,000 thru $549,999 $550,000 thru $599,999 $600,000 thru $649,999 $650,000 thru $699,999
66 52 61 66 53 64 68 74 66 174 183 117 122 93 185 111 68 38 38 10 7 10 4 7
$700,000 thru $749,999
4
$750,000 thru $799,999
5
$800,000 thru $849,999
8
Minimum
$9,500
$850,000 thru $899,999
2
Average
$133,797
$900,000 thru $949,999
1
Maximum
$1,900,000
$950,000 thru $999,999
1
Median
$101,000
$1,000,000 thru $1,249,999
6
$1,250,000 thru $1,499,999
1
$1,750,000 thru $1,999,999
1
$19,000 or Under $20,000 thru $29,999 $30,000 thru $39,999 $40,000 thru $49,999 $50,000 thru $59,999 $60,000 thru $69,999 $70,000 thru $79,999 $80,000 thru $89,999 $90,000 thru $99,999 $100,000 thru $119,999 $120,000 thru $139,999 $140,000 thru $159,999 $160,000 thru $179,999 $180,000 thru $199,999 $200,000 thru $249,999 $250,000 thru $299,999 $300,000 thru $349,999 $350,000 thru $399,999 $400,000 thru $449,999 $450,000 thru $499,999 $500,000 thru $549,999 $850,000 thru $899,999 $1,250,000 thru $1,499,999 $1,750,000 thru $1,999,999
11 6 12 13 16 19 21 14 15 35 25 19 13 7 13 9 4 2 2 2 1 1 1 1
Summary Price Information
Summary Price Information Minimum
$1,000
Average
$171,151
Maximum
$1,820,000
Median
$134,000
CopyrightŠ Karen Schlosser April 2014