Cincinnati April 2021 Market Review
Kopf Hunter Haas made the Business Courier’s list of top Residential Real Estate Firms in Cincinnati. KHH has the second highest average sale price (two years in a row) at $389,819 and moved up to 16th place with a total volume of 63.78 million. On average in 2020, Kopf Hunter Haas had a closing every 2 days with 168 closings! We are proud of these 2020 accomplishments as a boutique brokerage with strong knowledge of the current market & experise in the neogotiation process! Nearly all of KHH partners are actively involved in both community associations and Realtor Associations at the local, state and national levels to ensure we’re engaged in policy changes and trends in the real estate market that may impact you!
April 2021 Brings Record High Median Prices
Source: Cincinnati Board of REALTORS
Nationwide, home sales prices are soaring, and the Cincinnati area market is keeping up with the trend. For two straight years, the monthly median sold price is up compared to the year prior. April saw a 23.7% increase, setting another record high. According to the National Association of REALTORS® (NAR), the 30-year fixed-rate mortgage dropped to as low as 2.93% in the first quarter (a year earlier it averaged 3.57%). “The strong demand, low housing supply, and low interest rates continue to drive significant price increases,” says Stephanie Sudbrack-Busam, President of the Cincinnati Area Board of REALTORS®.
When broken down by county, Hamilton, Butler, Warren, and Clermont counties all follow the same trend: increased median sale price, increased units sold, increased number of new listings, but a decrease in active inventory. What is interesting though, is that Hamilton County only saw a 2.5% increase in median sales price. With an increase of 31.9%, Butler county saw the largest increase of new listings. Warren County has the highest median sales price at $315,000. Clermont County had a 61.4% decrease in active inventory, the largest decrease of the four counties.
