July 2010 Home Sales Report for Cincinnati, Ohio
I’m sure you all may have heard news stories the past few days on the July home sales reports that just came out. I wanted to pass along some data to give you an idea of the facts behind the numbers.
July home sales were 35% lower than last years sales in Cincinnati. This was expected because of the tax credit accelerating sales to the first quarter of this year that would have normally happened throughout the year.
March closings were UP 15%, April 34%, May 26%, and June 8% over last year in Cincinnati. After the expiration of the tax credit, obviously we expected sales to slow down to a more normal rate.
Looking at the year to date picture, home sales are up 3% over last year.
This is all based off data from the Cincinnati MLS.
July Monthly Home Sales
Closings
July 2010 1,302
July 2009 2,008
Variance -35.16%
Year-to-Date Home Sales
Closings Average Price
Jan-July 2010 10,816 $158,259
Jan-July 2009 10,495 $148,840
Variance +3.06% +6.33%
Please click on the link here to see the “July 2010” home sales press release from CABR.
The real estate market is hyper-local, so the headlines in the news don’t always apply to us. You might feel like all you hear is bad housing news…well that’s because good news is harder to sell. This is a challenging market, but it is not the end of the world…
“May you live in interesting times…” Life right now is interesting to say the very least.
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