Ohio’s Multiple Listing Service brought good news to the state and especially to the Cincinnati real estate market with an April report of solid home sale gains. The first quarter of 2012 showed a 10 month positive sales trend with 3.8% increase in home sale price. An average Ohio home in April 2012 was selling for $122,373 versus the April 2011 price of $117,673.
More Good News
The report also showed a rise in number of home sales as well as in the average selling price. First quarter sales numbers showed an 11.3% rise of total sales to 30,609 from the 2011 27,491 sales. In April alone there were 9,099 sales which is an 8.1% increase over the 8,420 sales numbers for 2011. The average home sale price in Ohio increased 5% from the 2011 price tag of $123,544 to $130,003 in April of 2012.
Confidence in Housing Market Returning
Ohio Association of REALTORS® president Robert U. Miller stated he felt the historic low levels of mortgage rates was bringing confidence back to market. With the housing market adjusting back to normal levels from the market crash, both buyers and sellers had more realistic expectations of home investment opportunities especially in Cincinnati real estate.
A Good Investment
With an April total dollar volume of $1.2 billion in Ohio alone (a 13.7% increase from 2011) on top of pent up consumer demand shows it is a good time to buy or sell a home in the Cincinnati real estate market and Ohio in general.
If you’re in a prime position to buy or sell your home in the Hamilton and Cincinnati areas, get in touch the real estate experts at Bowling and Kugler today.
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