There is a lot of great news to share about the state of the local Cincinnati real estate market. Overall the local market is showing specific signs of rapid improvement. Year over year (2012 vs. 2013) we are seeing positive movement in the following factors.
- Prices are up!
- Sales are up!
- Interest rates are down!
- Inventory is down!
What this means for real estate Buyers and Sellers:
For Sellers we are moving away from a buyers market to a sellers market. The smaller inventory and rising prices mean that if you prepare your house well, have a good product to sell you may see a quick sale leaning just over market value.
For buyers it is time to move out of the mindset that every house should be discounted. The market has turned. Good properties are selling fast. Get ready to move quickly and become comfortable with paying about 95% of list price (for properly priced homes).
There are no guarantees in real estate but we have sold multiple houses recently at the first open house or within a few days of going on the market. Good inventory is moving, so if you have been thinking about listing now is the time! Call me to set an appointment! 513.518.1140