Area realtors say 2013 ended on a high note for home sales. The Cincinnati Area Board of Realtors is reporting December closings rose 14.2 percent compared to a year earlier. For the entire year, sales increased 20.84 percent. The average home price rose 5.75 percent last year to $165,037.
"The Greater Cincinnati Housing Market continues to improve at a moderate rate," said Ken Parchman, President of the CABR, in a statement. "Our low inventory coupled with relatively low interest rates and stronger demand pushed the average price higher."
Home sales in Cincinnati ended last year at the highest level since 2007. The Area Board of Realtors says closings were up 12 percent from 2011. December home sales rose more than 5 percent compared to the same month a year ago.