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5.5 Months Housing Supply (6.8 Months, December 2012)

33% of homes sold were on the market for less than a month. (November 2013, 37%)

26% were on the market 4 months or longer. (November 2013, 25%)

Average DOM* for Sales

Balanced Market When housing supply falls between 5-6 months it is considered a balanced market, neither Seller nor Buyer has an advantage. Check out what’s happening in your neck of the woods!

Single Family 86 Days Condo 140 Days *Days on Market

Lender-Involved Sales Bank-Owned (REO) Pre-Foreclosure Short Sales

28% Source of Purchase Funds 30% Cash 46% Conventional 17% FHA 4% VA 3% Other

Sales Up 5% As Compared To December 2012

Average Sales Price $161,224 Up 2% Over December 2012

Residential (Single Family & Condo) Market Stats for Greater Cincinnati As Of December 31, 2013 Source: Multiple Listing Service of Greater Cincinnati, Inc. CopyrightŠ Karen Schlosser January 2014


Residential (Single Family & Condo) Unit Sales 2009-2013 YTD Source: Multiple Listing Service of Greater Cincinnati, Inc. NOTE: There was a tax credit from April 9, 2008*- April 30, 2010 *This tax credit was instituted in November 2008 and retroactive 3000

2500

2000

1500

1000

500

Jan

Feb

Mar

Apr

2013

May 2012

Jun

Jul

2011

Aug

Sep

2010

Oct

Nov

Dec

2009

Active Residential Inventory (Single Family & Condominium) January - December 2005-2013 YTD Source: Multiple Listing Service of Greater Cincinnati, Inc. 19,000 18,000 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 9,000 8,000 7,000 6,000 2013

JAN

FEB 2012

MAR 2011

APR

MAY 2010

JUN 2009

JUL

AUG 2008

SEP 2007

OCT

NOV 2006

DEC 2005

Another Round of “UP”! Simply put…sales are up from December 2012, ever so slightly down from November 2013, better known as the holidays! Not bad considering the number of wintery days we’ve had this year compared to last year’s almost balmy conditions! Buyers in this market have to be dead serious to brave the temperatures and weather conditions, Sellers, be thankful, an average of 63 homes sold per day in 2013!

Inventory Dips Below 9, Similar To Our Current Temperatures! I wouldn’t call inventory chillingly low, it is headed in that direction. Lower inventory is always good news for sellers, less competition for the serious buyers in the market; but for buyers, it could mean higher prices and not as much to choose from. Based on sales and inventory, we are in a balanced market, neither side has a true advantage.

Copyright© Karen Schlosser January 2014


2009-2013 YTD Number of Months of Housing Supply Source: Multiple Listing Service of Greater Cincinnati, Inc. 15 14 13 12 11 10 9 8 7

7.3

6

7

A "balanced" market is considered between 5-6 months of inventory. 5

5.9

5.5

5.3

4

4.6

4.6

4.5

4.3

MAY

JUN

JUL

AUG

5.4

5.4

SEP

OCT

5.5

Less Than A 2 Point Spread From Beginning To The End A simple summation of the housing supply for 2013 all the while interest rates stayed in our favorite position…low! No wonder we had a great year.

3

JAN

FEB

MAR

APR

2013

2012

2011

2010

NOV

DEC

2009

Residential Average Sales Price Single Family & Condominiums 2012-2013 YTD SOURCE: All Market Areas in Multiple Listing Service of Greater Cincinnati, Inc. $189,260

$190,000

$178,382

$175,710

$180,000

$171,293

$170,000

$162,664

$160,000 $150,000 $140,000

$161,224 $157,087 $153,703

$156,957 $156,790 $143,324 $139,213

$130,000 $120,000

JAN

FEB

MAR

APR

MAY 2013

JUN

JUL

AUG

SEP

OCT

NOV

DEC

Ending On A High Note Although it isn’t the highest average sales price for the year, it sure beats ending on a price lower than November! December showed a 5% increase in the average sales price over December 2012, not bad for a cold, snowy, blustery winter thus far. The average price for the year settled in at $164,599, 5% up from 2012.

2012

Copyright© Karen Schlosser January 2014


Residential Sales (Single Family) December 2013

Residential Sales (Condominium) December 2013

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Source: Multiple Listing Service of Greater Cincinnati, Inc.

Selling Price Range

# of Homes Sold

Selling Price Range

# of Homes Sold

$19,000 or Under

72

$19,000 or Under

3

$20,000 thru $29,999

61

$20,000 thru $29,999

6

$30,000 thru $39,999

77

$30,000 thru $39,999

9

$40,000 thru $49,999

57

$40,000 thru $49,999

8

$50,000 thru $59,999

62

$50,000 thru $59,999

9

$60,000 thru $69,999

59

$60,000 thru $69,999

17

$70,000 thru $79,999

50

$70,000 thru $79,999

14

$80,000 thru $89,999

52

$80,000 thru $89,999

8

$90,000 thru $99,999

62

$90,000 thru $99,999

6

$100,000 thru $119,999

113

$100,000 thru $119,999

12

$120,000 thru $139,999

132

$120,000 thru $139,999

22

$140,000 thru $159,999

92

$140,000 thru $159,999

7

$160,000 thru $179,999

76

$160,000 thru $179,999

15

$180,000 thru $199,999

54

$180,000 thru $199,999

3

$200,000 thru $249,999

130

$200,000 thru $249,999

11

$250,000 thru $299,999

94

$250,000 thru $299,999

8

$300,000 thru $349,999

61

$300,000 thru $349,999

2

$350,000 thru $399,999

35

$350,000 thru $399,999

2

$400,000 thru $449,999

22

$400,000 thru $449,999

1

$450,000 thru $499,999

19

$450,000 thru $499,999

1

$500,000 thru $549,999

8

$500,000 thru $549,999

2

$550,000 thru $599,999

3

$1,250,000 thru $1,499,999

1

$600,000 thru $649,999

9

$650,000 thru $699,999

3

$700,000 thru $749,999

3

Minimum

$14,031

$750,000 thru $799,999

3

Average

$133,816

$800,000 thru $849,999

3

Maximum

$1,336,500

$850,000 thru $899,999

3

Median

$107,900

$900,000 thru $949,999

2

$1,000,000 thru $1,249,999 $1,250,000 thru $1,499,999 $2,000,000 thru $2,249,999 $2,750,000 thru $2,999,999

5 4 1 1

Summary Price Information

Summary Price Information Minimum $2,500 Average $169,297 Maximum $2,825,000 Median $127,000

CopyrightŠ Karen Schlosser January 2014


Charts december 2013