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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 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 ParkIndian Hill, Kenwood, Madeira, Mariemont, Milford, Montgomery, Mt. Adams, Mt. Washington, Newport, Newtown, Norwood, Taylor Mill, Terrace Park, Union Township, and Villa Hills.

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