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
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2014
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2013
2012
2011
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2010
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2009
The housing supply in Cincinnati jumped to 5.1 months in August due to an 18% drop in unit sales. Single family took the biggest hit with the numbers showing a decline of 19% in units as compared to August 2013, condos were down 1% which will probably end up being dead even to last year by the time the official numbers are released around the 3rd week of September. BTW, a 5-month housing supply puts the overall market in the “balanced market” range where neither buyer nor seller have an advantage. The other noteworthy stat is that the percentage of lender-involved sales dropped to 12% as compared to 15% last month and 23% last August. With this jump up it could take sellers a month longer than before. Right pricing is key to selling ahead of the market! Copyright® Karen Schlosser September 2014