July 2021 – Is it the Beginning of a Market Change?
Source: Cincinnati Area Board of Realtors
July showed an interesting shift in the market. Compared to June 2021, the total sold volume is down $152,614,612 a decrease of 19.5%. While the Median Sold price is up 12.5% from July 2020, it is down 2.6% from June 2021.
The Cincinnati area real estate market tends to follow a consistent trend throughout the years. While a lot of factors go into these trends, we never saw an active inventory peak in 2020 like we have seen in years prior. In fact, mid-2019 into 2021 saw a mostly downward trend.
“We are excited to see the active inventory start to trend upward!” says Stephanie Sudbrack-Busam, President of the Cincinnati Area Board of REALTORS®. “While buyers are still feeling the pressure of the competitive market, this trend suggests that there might be some relief offered in the near future.”
With changes to the Cincinnati Area Board of Realtors (CABR) purchase contract beginning September 1, 2021 you want to make sure you have a REALTOR who is knowledge of the changes and the impacts it has on buying and selling in our local market. Kopf Hunter Haas prides itself on having the highest level of professional service and expertise in the Greater Cincinnati real estate marketplace while creating an outstanding customer experience. We are here to help you!Return to Blog