Filed Under Housing Market · Tagged: inventory, price, Trends · Print This Article
After a promising late winter sales extravaganza, the Cincinnati spring housing market is undoing much of the progress made on inventory in the Queen city.
Our data goes back to August of 2008, where Hyde Park (zip 45208) holds an inventory just over 190 homes. As of March 1st, inventory was down 31.5% to 130, but now back to about 175 as of today.
Similar trends can be seen in Mt. Lookout (zip 45226) and Oakley (zip 45209), although it appears that Oakley has more inventory now than it did back in August. This indicates that prices will continue to slide in the Oakley market.
Read about our predictions and why it is best to list your home in the winter, as opposed to spring.
Home buyers should always be excited about the spring market, as there is commonly a large influx of new homes to see and compare with what you have been looking at all winter. However, as in any season, some spring market sellers can be very unrealistic about the value of their homes if they have not been paying attention to recent sales in their area. So, as a buyer, do your due diligence and see enough homes to be able to compare feature and price and location, so that you can find the best house for the least amount of money this spring!
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