This week's market report will take a closer look at the September sales data. Here is what happened in the real estate market for Hamilton County:
Overall median sales price was up +21.2% compared to Sep 2019. Here's the break down by the number of bedrooms:
2 bedrooms: +26.1%
3 bedrooms: +20.4%
4 bedrooms: +10.8%
5+ bedrooms: +7.9%
Median sales price per square foot was up +14.1%
Sales price as a percentage of the listing price was up across all homes by bedroom.
2 through 4 bedroom homes sold for prices >99% of the listing price, and 2 bedroom homes in particular sold for above the listing price on average.
Prices have increased steadily in the 5-10% range year over year for the past few years, but this pace has accelerated over the past two months. Only twice in the past 15 years have we seen prices increase at this rate. How long this continues will depend on the supply of homes on the market, as low inventory is the primary cause with low interest rates also contributing as a secondary factor. Please contact me if you have any questions at 513-830-8227 or firstname.lastname@example.org. I would be happy to discuss further.