Home sales in Greater Cincinnati and Northern Kentucky remained strong in October with double-digit sales increases from a year ago.
Sales of existing homes around Cincinnati rose 14.3 percent in October to 1,895 compared to October 2012, the Cincinnati Area Board of Realtors said Wednesday. Home sales reflect completed transactions of single-family homes, townhomes, condominiums and co-ops.
The median selling price in October was $125,000, up $1,000 from the same period a year earlier. October was the 28th consecutive month of increased sales year-over-year.
“While our prices (haven’t) increased as in some markets nationally, the positives we’re seeing is the inventory turning and when we’re seeing the sales levels with the lack of inventory we have,” said Cincinnati board president Kevin Kelly. “Everything that we’re seeing locally still points to a positive market.”
Local mortgage rates averaged 4.1 percent for a 30-year fixed-rate loan in October, up from 3.45 percent a year ago, according to the board.
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