Cincinnati Market Overview – Hyde Park
22 Oct2009
Filed Under Housing Market, Hyde Park, Selling · Tagged: Hyde Park, reports · Print This Article
This Week in Hyde Park
The median list price in Hyde Park this week is $359,900.
Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market.
Supply and Demand
Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer’s market to a Seller’s
market.
Market Action Index
The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
Price
This week prices in this zip code remained relatively flat. However the recent trends have us pulling back from the market’s high points. Keep an eye on the Market Action Index for a leading indicator of the duration of this down trend.
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Statistics Powered by Altos Research
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