Local realtors say they saw another drop in business last month, likely the leftover effect of the extreme winter weather. Home sales fell 8 percent in the Cincinnati area compared to March 2013. Northern Kentucky closings were off by 7 percent.
Sales were down more than 6 percent across Ohio. Chris Hall, president of the Ohio Association of Realtors had this take:
Area realtors say 2013 ended on a high note for home sales. The Cincinnati Area Board of Realtors is reporting December closings rose 14.2 percent compared to a year earlier. For the entire year, sales increased 20.84 percent. The average home price rose 5.75 percent last year to $165,037.
"The Greater Cincinnati Housing Market continues to improve at a moderate rate," said Ken Parchman, President of the CABR, in a statement. "Our low inventory coupled with relatively low interest rates and stronger demand pushed the average price higher."
For the 26th straight month Cincinnati homes sales have continued to climb. In August they were up 24% when compared to the same month last year. President of the Cincinnati Area Board of Realtors Kevin Kelly says, "Our local housing market is very active and properties that are in good condition and are prices right seem to be selling quickly."