3.8 Months Housing Supply (4.1 Months, April 2015)
50% of homes sold were on the market for less than a month.
Average DOM* for Sales
(April 2015, 45%)
Single Family 76 Days
23% were on
Condo 109 Days
the market 4 months or longer. (April 2015, 30%)
Seller’s Rule When the housing supply is below 5 months, it is considered a seller’s market which means higher prices and increased odds of multiple offers, be prepared.
*Days on Market
Lender-Involved Sales Bank-Owned (REO) Pre-Foreclosure Short Sales
11% Source of Purchase Funds 20% Cash
Sales Up 1% As Compared To May 2014
53% Conventional 19% FHA 5% VA 3% Other
Average Sales Price $195,144 Up 11% Over May 2014
Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of May 31, 2015 Source: Multiple Listing Service of Greater Cincinnati, Inc. Copyright© Karen Schlosser June 2015