Cincinnati Real Estate Market Stats July 2014

4.4 Months Housing Supply (4 Months, June 2014)

47% of homes sold were on the market for less than a month.

(June 2014, 51%)

19% were on the market 4 months or longer.

(June 2014, 20%)

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 75 Days Condo 108 Days *Days on Market

Lender-Involved Sales Bank-Owned (REO) Pre-Foreclosure Short Sales

15% Source of Purchase Funds 25% Cash

Sales Down 2% As Compared To July 2013

53% Conventional 15% FHA 4% VA 3% Other

Average Sales Price $185,937 Up 3% Over July 2013

Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of July 31, 2014 Source: Multiple Listing Service of Greater Cincinnati, Inc. Copyright© Karen Schlosser August 2014

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

2256

2027 2000 1500

2454

2348

1639 1,208

1,301

1000 500

Jan

Feb

Mar

Apr

2014

May 2013

Jun 2012

Jul 2011

Aug

Sep

2010

Oct

Nov

Dec

2009

Flux In Home Sales Almost Nil. It’s hard to discern the difference in the number of housing units sold in 2013 vs. 2014 when the trend lines for January through July 2013 and 2014 follow one another within 88 homes YTD (year to date), about one-third of the difference reflecting in lower numbers for July.

Active Residential Inventory (Single Family & Condominium) January - December 2005-2014 YTD 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

2012

9,232

APR

9,622

9,896

MAY

JUN

2011

2010

10,220

JUL 2009

AUG 2008

SEP 2007

OCT 2006

NOV

DEC 2005

Back To 5-Figure Listing Levels. No need to panic just yet. Listing inventory continues to follow last year’s upward trend.

Copyright© Karen Schlosser August 2014

2009-2014 YTD Number of Months of Housing Supply Residential Real Estate - Single Family & Condominium 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

APR

2014

MAY

2013

JUN

JUL

2012

AUG

2011

SEP

2010

OCT

NOV

DEC

2009

Same Place Same Time…The best description of the number of months of housing supply for July 2013 and 2014, separated by .1 (point one) months, it’s hardly worth mentioning. What is worth mentioning is the fact that lender-involved sales only made up 15% of the unit sales which is far less than previous months, like February which experienced 31%.

Residential Average Sales Price Single Family & Condominiums 2012-2014 YTD SOURCE: All Market Areas in Multiple Listing Service of Greater Cincinnati, Inc. $200,000

$189,839 $182,787

$190,000

$185,691

$180,000 $165,615

$170,000 $160,000

$151,000

$155,408

$158,689

$150,000 $140,000 $130,000 $120,000

JAN

FEB

MAR

APR

MAY 2014

JUN 2013

JUL AUG 2012

SEP

OCT

NOV

DEC

Buyers Received More For Their Money In July. Anyone who purchased a home in July should have gotten a little more for their money, nothing significant, as the average sales price declined by 2% as compared to June. The exception would be those buyers who found themselves in a multiple offer situation, perhaps paying more than planned or ending up over list price.

Copyright© Karen Schlosser August 2014

Residential Sales – Single Family July 2014

Residential Sales - Condominium July 2014

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Selling Price Range

# of 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 $700,000 thru $749,999 $750,000 thru $799,999 $800,000 thru $849,999 $850,000 thru $899,999

49 70 60 66 58 65 76 65 66 136 193 161 150 116 212 156 113 75 36 29 23 17 15 5 6 3 5 1

$900,000 thru $949,999

1

$950,000 thru $999,999 $1,000,000 thru $1,249,999 $1,250,000 thru $1,499,999 $1,750,000 thru $1,999,999

1 4 3 3

Selling Price Range

# of 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 $500,000 thru $549,999 $550,000 thru $599,999 $600,000 thru $649,999 $900,000 thru $949,999 $1,250,000 thru $1,499,999

5 4 10 10 23 24 15 15 15 36 29 25 18 13 26 15 11 5 2 2 1 1 2 2

Summary Price Information Minimum $5,000

Average Maximum Median

$153,532 $1,384,339 $118,000

Summary Price Information Minimum

Average Maximum Median

$3,000 $190,847 $1,900,000 $155,000 CopyrightŠ Karen Schlosser August 2014