July 2021 – Is it the Beginning of a Market Change?
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.”
Get a PDF copy of this press release here.