Supply of Listed Inventory: 7.8 Months (April 2012)
Buyer’s or Seller’s Market? Depends on your “neck of the woods”! Check with your favorite REALTOR®.
5.3 Months (April 2013)
41% of homes sold were on the market for less than a month.
26% were on the market 4
Lender-Involved Sales
months or longer.
27% Source of Funds Used to Purchase 31% Cash 44% Conventional 18% FHA 2% VA 5% Other
Bank-Owned (REO), Short Sales, PreForeclosure
Sales Up 20% Over April 2012 Average Sales Price $156,957 (9% over April 2012)
Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of April 30, 2013 Source: Multiple Listing Service of Greater Cincinnati, Inc. Copyright© Karen Schlosser May 2013
Residential (Single Family & Condo) Unit Sales 2009-2013 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 2300 2100 1900 1700 1500 1300 1100 900 700 500 Jan
Feb
Mar
Apr
2013
May 2012
Jun
Jul
2011
Aug 2010
Sep
Oct
Nov
Dec
2009
Active Residential Inventory (Single Family & Condominium) January - December 2005-2013YTD 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 JAN 2013
FEB 2012
MAR
APR
2011
MAY 2010
JUN 2009
JUL
AUG 2008
SEP 2007
OCT
NOV 2006
DEC 2005
HEADLINE: Unit sales up 20% over April 2012! Story: As you look at the chart, notice 2013 mirrors the 2010 sales line, the year of the expiring tax credit, sales had to be written by April 30, 2010 and closed by June 30, 2010. Sales without a “paid incentive” mean truer home prices and a better indication of what people are thinking and feeling…”it’s an incredible time to sell!” HEADLINE: Housing Inventory Up, Up And Way Better Than The Past! Story: Housing inventory is up slightly from last month but still way below every year back to 2005, just a tad below 2004 when houses were flying off the shelf, prices were skyrocketing and almost anyone who could fog a mirror got a loan. Today, the right-priced homes are flying off the shelf to wellscrutinized buyers.
Copyright© Karen Schlosser May 2013
2009-2013 YTD Number of Months of Housing Supply Source: Multiple Listing Service of Greater Cincinnati, 15 14 13 12 11 10 9 8
7.3 7
7 6
5.5
5.3
A "balanced" market is considered between 5-6 months of inventory.
5 4 3
JAN
FEB
MAR
APR
MAY
2013
JUN
2012
JUL 2011
AUG 2010
SEP
OCT
NOV
DEC
2009
Residential Average Sales Price Single Family & Condominiums 2012-2013 YTD SOURCE: All Market Areas in Multiple Listing Service of Greater Cincinnati, Inc. $180,000
$170,000
$156,790
$160,000
$150,000
$156,957
$143,324 $139,213
$140,000
$130,000
$120,000 JAN
FEB
MAR
APR
MAY 2013
JUN
JUL 2012
AUG
SEP
OCT
NOV
DEC
HEADLINE: Housing Supply On The Decline, Where It Will Go, Nobody Knows! Story: As houses fly off the shelf, new inventory isn’t keeping pace with the past rate of sale, hence housing supply is dwindling. Good news for sellers, challenging news for buyers who may lose their “dream” home in multiple offers. Hear that sellers? This may be your moment to shine in the housing market!
HEADLINE: Smidgen = $167 Story: A very small quantity or portion; a bit or mite is the dictionary definition of smidgen. My definition of smidgen is $167 which is the increase in the average sales price (ASP) from March to April of this year. April’s ASP is also not much more of a smidgen than last April’s which was $149,250, albeit an increase is an increase is an increase.
Copyright© Karen Schlosser May 2013
Residential Sales (Single Family) April 2013
Residential Sales (Condominium) April 2013
Source: Multiple Listing Service of Greater Cincinnati, Inc.
Source: Multiple Listing Service of Greater Cincinnati, Inc.
# of Homes Sold
# of Homes Sold
Selling Price Range $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 $1,000,000 thru $1,249,999 $2,000,000 thru $2,249,999 $4,500,000 thru $4,749,999
91 90 80 65 44 54 81 83 51 123 148 136 117 101 162 82 69 49 27 22 8 10 7 5 2 4 2 1 1 1 1716
Selling Price Range $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 $450,000 thru $499,999
2 9 8 14 14 14 10 26 4 19 19 16 14 6 10 12 4 2 203
Condominium Stats Minimum Sales Price Maximum Sales Price Average Sales Price Median Sales Price
$17,000 $495,000 $119,493 $100,000
Single Family Stats Minimum Sales Price Maximum Sales Price Average Sales Price Median Sales Price
$1 $4,524,500 $161,389 $131,000
CopyrightŠ Karen Schlosser May 2013