The Cincinnati Area Board of Realtors released tables of data showing the average and median sales prices for suburbs across the Cincinnati Area for 2019 vs 2018. I ignored areas that had fewer than 50 sales in 2019 or 2018 since with that many sales, the average and median values year to year could fluctuate largely just due to change. Using this data, I was able to pull out some interesting information. Here is what I found:
- It's striking that the largest price increases are seen in neighborhoods where the median sales price in 2018 was $200,000 or less.
- If you own a home that is valued at $200,000 or less, it could be a great time to take advantage of the increased equity and move up to a more expensive home where prices have not increased as quickly.
- Hamilton County neighborhoods with largest median price increases (%) in 2019: Avondale, Price Hill, Bond Hill, Reading, Loveland, Norwood, Madisonville, Evanston, Springfield Twp, Forest Park, Springdale, and Cheviot
- Butler County neighborhoods with largest increases: Lindenwald, Middletown, Hamilton
- Warren County neighborhoods with largest increases: Turtle Creek Twp and Deerfield Twp
- Clermont County neighborhoods with largest increases: Monroe Twp and Milford
Are you surprised? Please tell me what you think. If you would like to take advantage of a market that favors buyers that are moving up, ask me how I can save you money when listing your home for sale.