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Cindi Andrews reports:

Local home prices prices rose last month as sales continued to show strong growth and inventory continued to lag.

Median prices increased 6.6 percent in April in Southwest Ohio vs. April 2012 and 4 percent in Northern Kentucky, according to local Realtors groups.

Southwest Ohio sales saw a 24.1 percent increase in sales from April 2012, with 1,919 closings, according to the Cincinnati Area Board of Realtors. That’s in spite of the fact that the number of homes for sale was down 15.3 percent, with 10,148 listings as of April 30.

In Northern Kentucky, 469 homes sold, a 17.25 percent increase over year-ago numbers, the Northern Kentucky Association of Realtors reported.

Low inventory continues to limit sales in Northern Kentucky, according to the association, with listings down 5.9 percent vs. April 2012 even though 914 homes were listed in April — the most in a single month since March 2011.

Nationwide, April home sales were up 9.7  percent from April 2012, and on a seasonally adjusted basis were up 0.6 percent from March.

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Tags: Tags: business, cincinnati area board of realtors, home sales, real estate, southwest ohio

Cindi Andrews reports:

Greater Cincinnati home sales climbed to a six-year high in March and rose 15.9 percent over last March, the Cincinnati Area Board of Realtors announced this morning.

Existing-home sales totaled 1,754 last month, compared with 1,513 a year ago.

That’s in spite of continued tight inventory, according to the CABR: The number of homes available for sale in Greater Cincinnati was down 17.3 percent in March vs. a year earlier.

The combination of higher demand and lower inventory may be starting to impact prices. The median sale price in March was $126,553, CABR said – a 10.1 percent increase over the same month a year earlier.

“We are in a very active spring market,” said Kevin Kelly, board president. “Our low inventory of homes for sale has created a high demand for reasonably priced houses in good condition.”

National sales, which unlike local numbers are seasonally adjusted, declined 0.6 percent in March from the previous month, according to the National Association of Realtors. Sales remained 10.3 percent higher than March 2012.

Lawrence Yun, NAR chief economist, blamed the continued national shortage of inventory for the monthly decline. Housing inventory as of late March had increased 1.6 percent to 1.93 million existing homes available for sale, but that’s still just a 4.7-month supply.

“The inventory improvement last month results from a seasonal gain, but conditions continue to broadly favor sellers,” Yun said. “We need a housing supply of over six months to have a generally balanced market between home buyers and sellers.”

The national median existing-home price for all housing types was $184,300 in March, according to the National Association of Realtors – 11.8 percent higher than March 2012.

This report will be updated with Northern Kentucky and Southeastern Indiana numbers when they are released.

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Tags: Tags: cincinnati, cincinnati area board of realtors, home sales, real estate

Cindi Andrews reports:

Pending sales in Southwest Ohio were up 14.3 percent over February 2012 and 13 percent over January 2013, the Cincinnati Area Board of Realtors reported Wednesday.

A total of 2,035 contracts were written on homes in February, although some typically fall through because of problems with appraisals, inspections or other contingencies. Closing generally occurs four to six weeks after the contract is written.

There were 490 pending sales south of the Ohio River in February, according to the Northern Kentucky Association of Realtors – a 16.9 percent increase over February 2012 and a 3.4 percent increase over January 2013.

Nationally, pending sales were down 0.4 percent over January 2013, but were up 8.4% compared to February 2012. However, unlike the local numbers, the National Association of Realtors’ numbers are seasonally adjusted.

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Tags: Tags: cincinnati area board of realtors, home sales, pending sales, real estate

Cindi Andrews reports:

Posted in: Business, Community, News |

Tags: Tags: business, cincinnati area board of realtors, foreclosures, home sales, real estate, warren county

Cindi Andrews reports:

Greater Cincinnati home sales reached a five-year high in 2012 and rose more than 12 percent over 2011, the Cincinnati Area Board of Realtors reported this morning.

A total of 18,988 homes sold, compared to 16,854 in 2011. In addition, December sales were higher than December 2012, extending the sales-growth streak to 18 months.

The Northern Kentucky Association of Realtors likewise reported an 18th-straight month of year-over-year sales increases in December. Last year saw the most sales since 2008 in Northern Kentucky, at 4,949 sales – a nearly 15 percent increase over 2011.

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Tags: Tags: cincinnati, cincinnati area board of realtors, home sales, real estate

Cindi Andrews reports:

Existing-home sales in Greater Cincinnati and Northern Kentucky continued booming in October, according to local Realtors’ groups.

The Cincinnati Board of Realtors this morning posted a nearly 19 percent increase in single-family and condo sales compared with October 2011, with 1,646 units sold. In addition, the median sale price increased more than 11 percent, to $124,000. Year-to-date, sales are 12 percent higher  than the same period in 2011.

The Northern Kentucky Association of Realtors reported more than an 8 percent increase in home sales in October, with 390 units sold. However, the median price dropped 4 percent compared with October 2011, to $125,250. Year-to-date, sales are up over 15 percent.

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Tags: Tags: cincinnati area board of realtors, home sales, real estate, warren county

Cindi Andrews reports:

Both Southwest Ohio and Northern Kentucky chalked up their 15^th straight month of sales growth in September, their respective Realtor groups reported Friday.

The Cincinnati Area Board of Realtors, which includes Hamilton, Butler, Warren and Clermont counties, reported an 11 percent increase in existing-home sales from September 2011 to September 2012. The board also reported a 4.8 percent increase in the median sale price since last September, to $125,000. Year-to-date sales were up 11.3 percent over the same period in 2011.

The Northern Kentucky Association of Realtors reported a 1.5 percent month-over-month increase in sales and  a 7.1 percent increase in the median price, to $123,000. Year-to-date sales are up 15.5 percent over the same period in 2011, the group said Friday.

Nationwide, home sales were also up 11 percent from September 2011.

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Tags: Tags: cincinnati area board of realtors, home sales, real estate, warren county

Cindi Andrews reports:

Southwest Ohio and Northern Kentucky both continued their trend of increasing home sales in August, their respective Realtors associations reported Wednesday.

Sales were up 16.6 percent vs. August 2011 in Southwest Ohio, according to the Cincinnati Area Board of Realtors. The 1,940 units sold was also the highest number for August in the past five years, the board said.

In Northern Kentucky sales rose 11.4 percent vs. August 2011, according to the Northern Kentucky Association of Realtors — the 14th straight month of year-over-year increases.

Both groups credited low interest rates for helping sales. Currently, 30-year mortgage rates are averaging 3.52 percent in Greater Cincinnati, according to the CABR.

Posted in: Business, News |

Tags: Tags: cincinnati, cincinnati area board of realtors, home sales, northern kentucky, southwest ohio