Cincinnati Market Report 18July2019
View from the balcony at 915 Riverview Place in Mt Adams
Final sales price as a percentage of listing is price is over 98% in Cincinnati
Last week , we looked at the number of active listings on the market compared to how many transactions occur in a typical month to demonstrate that we are in a strong seller's market. One other piece of evidence for a seller's market is an increase in the final sales price as a percentage of the listing price. In the chart above, the seasonal trend to higher sales prices in the summer is apparent each year, but there is also an increase year over year from 2015 to 2019. In May 2019, the sales price was greater than 98% of the list price. There are few points that can be drawn from this:
  • If you are a buyer, a strong offer on a fairly priced house may mean submitting a purchase contract that is within 5% of the listing price. If you are also asking the seller to cover closing costs, you may want to offer more.
  • If you are a seller and you are not receiving offers or the offers are 10%+ less than the list price, you may want to reevaluate the following:
  • Is marketing reaching the buyers?
  • Are the pictures presenting the house in the most favorable light?
  • Is the rationale for setting the list price sound?
These numbers are for the Cincinnati market as a whole. We are observing a more balanced market for some neighborhoods and different price points. Please reach out for more nuanced market information.
Local Favorite of the Week
This restaurant, located at 8100 Blue Ash Rd in Deer Park, offers Venezuelan food. The owner, Javier, is excited to share his passion for Venezuelan food and can guide any newbies through the menu. I had an arepa and it was delicious, especially with the cilantro sauce. Only outdoor seating is available, and food is made to order. It may take 10-15 minutes to prepare, but it's well worth it!




You also reach me at beppert@pivotrealty.com or call me at (513) 830-8227


Bryan Eppert, Pivot Realty Group | Website