Wed August 21, 2013
Good time to sell a house
Home sales are continuing their double digit climb in Greater Cincinnati and Northern Kentucky. For more than two years sales have increased.
In Cincinnati they edged up 31% from last July to this July. In Northern Kentucky it was 32%. The average selling price in Cincinnati is $179,000, up 8% from a year earlier.
In Northern Kentucky the average home price rose 6.5%. Dee Begley, president of the Northern Kentucky Multiple Listing Service, says it's a seller's market. "We do have fewer homes on the market so our inventory is slightly lower than what we have had in the past but it also makes it a more vibrant market because there are multiple offers coming in on the properties and the properties are selling in a quicker time frame than they have in the past."
The number of homes sold in Northern Kentucky in July was the highest in six years.
Meanwhile, the State of Ohio reports a 26% increase in home sales and the longest stretch of growth, 25-months, since it began keeping track over 16 years.