When looking at the property market in Cincinnati, what are the trends? All it takes is a few analysts saying buy or sell, and investors seem to follow the lead. Let me be the first person to tell you to make up your own mind. When making investment decisions, you gather information from friends and colleagues that are wise, and you make your own decisions. That being said, it is time to discover the health of the real estate market in Cincinnati and where the trends say it is headed.
Real Estate Market In Cincinnati
Would you believe that the median listing price is right under $170k? If you look at many major cities in America, that median listing price is a lowball figure. And that’s the listing price folks! What about the average sales price or the average home value index? When it comes to the average home value, the number is just shy of $130k. Say what? That is almost a screaming buy for about every property in Cincinatti OH.
Of course, you don’t want to buy the hype. Sorry if that sounded a little hyped up, but I have been looking into Cincinnati recently. I’m always thinking about investments, and a friend of mine owns property there. So the idea of investing in Cincinnati real estate has intrigued me to say the least. So I guess you could say that you and I are in the same boat, in a way.
Perhaps you have been looking even more closely and are prepared to buy, but you wanted a current market forecast. Well, as I mentioned in another piece, the real estate market in Cincinnati is trending warm, which is great. That means whether you are wanting to buy property in Cincinnati, are holding property or wish to sell, you have the advantage. How do buyers, sellers and people holding properties have the advantage at the same time?
Know The Property Values
There is enough give and take going on to facilitate a strong market that shows potential moving forward. If I had to give the advantage to one side, I would say that the advantage goes to the buyer. The property values, listing prices and sales prices are just too low to think that the market forecast isn’t stupendous. Sure, it could take a while for properties to continue to appreciate, but they are at the right buy-in price for sure. Add to that a warm market forecast, and that is the trend in 2018, buy, buy, buy.
The percentage of homes that have negative equity is down but still stands at 13.1 percent. That is a little high, which shows a market that is still recovering a decade after the recession. It also shows an economy of the city whose people are still struggling. The market isn’t cold, however, and the city of Cincinnati and its real estate market are doing just fine. Without trying to promote hype, it sounds like the perfect time to buy in if you ask me. Now it’s up to you to make your own decision. For more information visit https://3cre.com/cincinnati-real-estate/