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August 2022 Greater Cincinnati Luxury Real Estate Market Report

August 2022 Greater Cincinnati Luxury Real Estate Market Report

There has a been a noticeable dip in median pricing compared to July 2022.  Interest rates on conventional mortgages have been ticking up and as a result the jumbo mortgage rates used to buy luxury homes have also ticked up.  Average dates on markets have also increased.  With the arrival of fall and winter home sales will be expected to slow down even further.  Greater Cincinnati is still light on inventory compared to last year.

August 2022 Greater Cincinnati Luxury Real Estate Report

Housing Bubble August 2022 Update - Many home markets around the US are starting to see downward pressue on pricing. 

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July 2022 Greater Cincinnati Luxury Real Estate Market Report

July 2022 Greater Cincinnati Luxury Real Estate Market Report

Median price ticked down a small amount and the average days on market increased by six days.  Total quantity of luxury homes that sold did drop by 22%.  Whether this trend holds remains to be seen.  Mortgage interest rates have settles in the mid-5 range for convention mortgages.  For jumbo mortgages rates are also in the mid-5 range for a 30 year fixed mortgage.

July 2022 Greater Cincinnati Luxury Real Estate Market Report

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June 2022 Greater Cincinnati Luxury Real Estate Market Report

June 2022 Greater Cincinnati Real Estate Market Report

Average days on market decreased from May 2022 and the amount of luxury homes sold in the Greater Cincinnati area increased.  Inventory increased as well from May 2022.  The national average for a jumbo mortgage rates used to buy a luxury home is 5.5% according to Bankrate.  Traditional mortgage rates are a slight bit higher.  The luxury market has proven resilient in light of the interest rate increases amd there are still buyers out there ready to buy homes.  If a recession sets in the numbers may change.

June 2022 Greater Cincinnati Luxury Real Estate Market Report

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May 2022 Greater Cincinnati Luxury Real Estate Market Report

May 2022 Greater Cincinnati Luxury Real Estate Market Report

Luxury home sales increased from last month even with rising mortgage rates.  This can be explained with the fact that most homes that close in a particular month are usually contracted one to two months prior.  In those prior months mortgage rates were lower as compared to May 2022.  Homes going into contract in May will show up in June/July results.  Prices for luxury homes in the Greater Cincinnati have been holding steady for the 2022 time frame.

May 2022 Greater Cincinnati Luxury Real Estate Market Report

Additional Articles To Read

  • May Housing Bubble Update - See which markets had a run in prices and sales during the month of May 2022.
  • Home Prices Set A Record - This article takes a look at home pricing and how it relates to CPI (Consumer Price Index which is a measure of inflation).

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April 2022 Greater Cincinnati Luxury Real Estate Market Report

April 2022 Greater Cincinnati Luxury Real Estate Market Report

Mortgage interest rates are up, for non-jumbo mortgages rates in the mid 5 percent are what is being quoted today.  With rates moving up at a steady pace some buyers are turning to Adjustable Rate Mortgages (ARM) as ARMs can start off with a lower overall interest rate.  Month to month the Greater Cincinnati luxury real estate market has seen a slight increase in price and a decrease in average days on market from March 2022.  Some buyers may be wanting to move their cash into real estate as a hedge against the quite high inflation numbers.  As interest rates continue to climb expect the real estate market to face more pressures due to buyers stepping away due to costs going up.

April 2022 Greater Cincinnati Luxury Real Estate Market Report

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February 2022 Greater Cincinnati Luxury Real Estate Market Report

Mortgage rates have trended downwards after the recent activity in Europe and the recent upward trend.  Slightly more homes were sold in February and as the weather warms real estate sales in general should pickup.  Real estate still faces a lot of headwinds from high inflation rates, the Federal Reserve intent on raising rates, and a declining stock market. 

February 2022 Greater Cincinnati Luxury Real Estate Market Report

Is 4% The Rate That Breaks Reat Estate's Back? - In the past it took much higher rates to cause a drop in demand from buyers.  This time around 4% may be that rate that slows things down.

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January 2022 Greater Cincinnati Luxury Real Estate Market Report

Fewer luxury homes sold in January 2022 compared to December 2022.  Overall inventory of luxury homes available for sale also saw a decline in January.  Median price stayed about the same and as Federal Reserve actions to increase interest rates take effect the real estate market should see a further slowdown as well.

January 2022 Cincinnati Luxury Real Estate Market Report

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December 2021 Greater Cincinnati Luxury Real Estate Market Report

The median price of luxury homes in Greater Cincinnati remained unchanged from November 2021.  Fewer luxury homes were sold in December 2021.  December usually sees a drop off in home sales in general due to the holidays.  Fewer people are out and about looking for homes and are instead travelling for vacations, visiting family or preparing for guests.  Fewer homes are available for sale now but that number should increase as temperatures warm up later on.

December 2021 Greater Cincinnati Luxury Real Estate Market Report

Housing Bubble America - Prices for homes are at all time highs considering the last peak as this article shows.

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November 2021 Greater Cincinnati Luxury Real Estate Report

Inflation is starting to take a bigger bite out of the consumer spending.  While luxury homes are less likely to be impacted due to demographics, the Federal Reserve will be forced to raise interest rates in order to dampen inflation.  The higher interest rates eventually work their way into mortgage rates which will then cause buyers to pause their real estate purchases or to look for something cheaper.  In Cincinnati, luxury homes sold during the month of November remained consistent with October 2021 numbers with the main notable difference of the median price being higher..

November 2021 Greater Cincinnati Luxury Real Estate Market Report

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October 2021 Greater Cincinnati Luxury Real Estate Report

There are some signs of a slowdown in the Greater Cincinnati luxury real estate market as compared to September 2021.  Median price has decreased and the average days on market has increased.  Some slow down is to be expected as we head into the winter months.  Mortgage rates have also ticked up slightly which can account for some of the slowdown.  As the economy continues to go through it's post-pandemic motions how things shape out remain to be seen.

October 2021 Greater Cincinnati Luxury Real Estate Report

Rising Mortgages and Home Sales - Year over year existing home sales have fallen as the pandemic frenzy appears to have tapered some.  The question though is this transitory?

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September 2021 Greater Cincinnati Luxury Real Estate Market Report

The notable change from last month is the increase time on market homes have spent while on sale and the fewer homes sold overall.  September is a time that should see an increase in sales when looking at historical trends.  Fall is a time when home listings increase and buyers activity also increase.  So while homes for sale did increase the number of homes sold dropped compared to August.  Whether this represents a long term change in the market shifting from sellers market to buyers market remains to be seen.

 

August 2021 Greater Cincinnati Luxury Real Estate Market Report

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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..

August 2021 Greater Cincinnati Luxury Real Estate Market Report

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.

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July 2021 Greater Cincinnati Luxury Real Estate Market Report

The median sales price ticked up slightly as did the days on market and total homes available for sale.  With the restrictions being relaxed in multiple areas more people wanted to get out of the home and travel.  More people travelling means fewer buyers and fewer dollars to put towards buying a home.  As August and September roll around it will be interesting to see how the numbers play out then.  

July 2021 Greater Cincinnati Luxury Real Estate Market Report

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June 2021 Greater Cincinnati Luxury Real Estate Market Report

June 2021 GREATER CINCINNATI LUXURY REAL ESTATE MARKET REPORT

Luxury home inventory ticked up slightly with little change in median listing price.  A few more homes sold and slightly less time on market also is noted as the changes from May 2021.  Rumors of a buyer's strike seem to be coming true in some markets as mortgage application rates are dropping.  Whether buyers are taking a break to catch up on travel and vacation time or are really serious about not wanting to buy a home remains to be seen.

June 2021 Greater Cincinnati Real Estate Luxury Statistics


If you need help buying or selling a luxury home in the Greater Cincinnati or Northern Kentucky area feel free to contact me so that you can gain some insight in to the local luxury real estate market.

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May 2021 Greater Cincinnati Luxury Real Estate Market Report

May 2021 Greater Cincinnati Luxury Real Estate Market Report

Luxury home inventory increased slightly from April 2021.  Days on market decreased slightly and the amount of homes that sold overall increased as compared to last month.  The summer time is traditionally a slower time period for sales.  This time last year the real estate buying cycle was pushed due to the COVID pandemic and summer remained pretty active time for real estate.  As the economy is opening up and people are wanting to get out we might see a drop in home buying/selling activity as people opt to spend more time travelling and catching up on things they could not do during the pandemic.

May 2021 Cincinnati Luxury Real Estate Market Statistics
If you need help buying or selling a luxury home in the Greater Cincinnati or Northern Kentucky area feel free to contact me so that you can gain some insight in to the local luxury real estate market.

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April 2021 Greater Cincinnati Luxury Real Estate Market Report

Homes continue to sell at record pace.  The average selling price for luxury homes is up, but at the same time inventory is still down compared to previous years which means increased competition for buyers.  Seller's continue to control the market which appears to be something that will last at least a few more months if not more.

April 2021 Greater Cincinnati Luxury Real Estate Market Report

If you need help buying or selling a luxury home in the Greater Cincinnati or Northern Kentucky area feel free to contact me so that you can gain some insight in to the local luxury real estate market.

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February 2021 Greater Cincinnati Luxury Real Estate Market Report

Inventory continues to be tight in the US and specifically in the Greater Cincinnati and Northern Kentucky real estate markets.  The luxury home market is not as short of inventory as the non-luxury market and new luxury home communities are currently being built (such as the Riverview Estates at Coldstream Country Club).  If you need help buying or selling a luxury home in the Greater Cincinnati or Northern Kentucky area feel free to contact me so I can help you with your goal.

February 2021 Greater Cincinnati Luxury Real Estate Market Report

About the author: The above article “February 2021 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com or by phone at 513-560-8002. If you’re thinking of selling or buying a home, investment or commercial business property I would love to share my marketing knowledge and expertise to help you.  Contact me today!

I work in the following Greater Cincinnati, OH and Northern KY areas: Alexandria, Amberly, Amelia, Anderson Township, Cincinnati, Batavia, Blue Ash, Covington, Edgewood, Florence, Fort Mitchell, Fort Thomas, Hebron, ...

October 2020 Greater Cincinnati Luxury Real Estate Market Report

The median price of luxury homes sold in the Greater Cincinnati real estate market trended down from September 2020.  Home sales increased but overall inventory decreased.  There are a number of market factors that look to impact luxury home sales going into the future.  Increased demand for work from home and more desire for homes away from downtown areas are changing the current demand metric.  Whether that holds over the long term remains to be seen.

September 2020 Greater Cincinnati Luxury Real Estate Market Report

About the author: The above article “October 2020 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com or by phone at 513-560-8002. If you’re thinking of selling or buying your investment or commercial business property I would love to share my marketing knowledge and expertise to help you.  Contact me today!

I work in the following Greater Cincinnati, OH and Northern KY areas: Alexandria, Amberly, Amelia, Anderson Township, Cincinnati, Batavia, Blue Ash, Covington, Edgewood, Florence, Fort Mitchell, Fort Thomas, Hebron, ...

August 2020 Greater Cincinnati Luxury Real Estate Market Report

August 2020 Greater Cincinnati Luxury Real Estate Market Report

The amount of luxury homes that sold and the amount of luxury homes available for sale increased from July 2020.  As homeowners feel more comfortable in this new pandemic world and real estate agents are making sure virus guidelines are adhered to both buyers and sellers grew.  While the fall is a second rush of home buying and selling it remains to be seen if this pattern continues for this year since the trends have been shifted due to the virus shutdowns.

greater cincinnati luxury real estate market report august 2020

About the author: The above article “August 2020 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at paul@CinciNKYRealEstate.com or by phone at 513-560-8002. If you’re thinking of selling or buying your investment or commercial business property I would love to share my marketing knowledge and expertise to help you.  Contact me today!

I work in the following Greater Cincinnati, OH and Northern KY areas: Alexandria, Amberly, Amelia, Anderson Township, Cincinnati, Batavia, Blue Ash, Covington, Edgewood, Florence, Fort Mitchell, Fort Thomas, Hebron, Hyde Park...

June 2020 Greater Cincinnati Luxury Real Estate Market Report

June 2020 Greater Cincinnati Luxury Real Estate Market Report

Last year there were 80 luxury homes that sold within the month of June 2019.  The median price was $899,450.00.  Average days on market was 121.  The biggest difference this year as can be seen is the total amount of luxury homes sold only being 56 during June 2020.  The Greater Cincinnati region was just coming off the tail end of COVID-19 related economic shutdowns and many sellers pulled their homes off of the market as a result.  There were more luxury homes available for sale in June 2019 than there are today.  So long as qualified luxury home buyers are still ready to buy prices will stay steady in the luxury market with the limited supply.

June 2020 Cincinnati Luxury Real Estate Market Report

New Home Sales Jump Are Downward Revisions - Sales of newly constructed homes beat expectations.  Whether this can sustain remains to be seen as the virus is surging again in some states.

Pending Home Sales Are Off Of Recent Lows - While pending home sales are off of recent lows they are still below where they were last year.  One of the biggest struggles home sellers have are putting their home on a market facing a pandemic and having another place to move to as well once they do sell their home.

About the author: The above article “June 2020 Greater Cincinnati Luxury Real Estate Market Report” was provided by Luxury Real Estate Specialist Paul Sian. Paul can be reached at ...

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