August 2021 Greater Cincinnati Luxury Real Estate Market Report
Median price for luxury homes ticked down slightly compared to July 2021. The quantity of homes sold and homes available for sale ticked up a modest amount. The average days on market a home spent waiting to get purchased did go up by 7 days. The fact that homes are spending some more time on market can reflect a trend that home sales are slowing down. In the alternative as people took an extra vacation in August to make up for lost time there just may have been fewer buyers in the market at the time. September's numbers will be better able to show if this is a trend of a shift towards the market becoming a buyer's market..
Home Prices Dip - Home price gains dipped a little as buyers in larger numbers started to sit out and wait it out in this very seller drive market. Sellers still have a strong market working in their favor though.