August 2017 Greater Cincinnati Luxury Real Estate Market Report

Interest rates for conventional and jumbo mortgages are still low and overall home sales are depressed.  The reason for depressed home sales is thought to be low inventory.  There is also a trend of certain buyers opting to remain more mobile by not purchasing and instead renting a place to own.  Since July 2017 the average prices of luxury homes has gone up in the Greater Cincinnati area as well as the inventory has gone done which is somewhat expected as homes sell or are pulled off of the market until Fall or Spring.  In the case of Greater Cincinnati more luxury homes sold during the month of August than did in July.  See below for more statistics and articles of interest.

• Pending Home Sales Down at MishTalk.com
• Pending Home Sale Drop In July, inventory shortage cited as primary reason at CNBC.com