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“I think we just have a lot more new construction close, quite frankly,” said Deaton, who has been a licensed realtor for 16 years. “I know myself closed several more at the end of the year than I have in the past at that time of year.”
Butler County tends to sell more homes, especially the Lakota schools communities of West Chester and Liberty townships, “because we have kind of a bigger turnaround,” she said.
Mason, in Warren County, still experiences a high turnover in home sales because of business-related relocations, but because of the higher price point, homes there don’t sell as quickly, Deaton said.
Housing inventory remains extremely low throughout Greater Cincinnati. Six months is considered a balanced market.”
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“Our supply right now is just two months and that’s low,” Deaton said. “We’ve never been that low.”
Kelly Meyer, president of the Cincinnati Area Board of Realtors, said local home inventory continues to show decreases each month, but shouldn’t cause concern.
“The pressure of millennials and families wanting to purchase a home is a big factor keeping inventory low,” said Meyer. “There are plenty of buyers in the market and move in-ready properties are selling quickly.”
Other positive factors in the local market are low interest rates, unemployment at or near the national average, an influx of good-paying jobs and affordable housing, she said.
December posted a record finish to the year with home sales up 10.2 percent and prices up 14.2 percent — the largest increases recorded all year, according to the the report. “With interest rates remaining low, we expect the demand to continue well into 2020,” Deaton said. “Because remember, the lower your interest rates, the more house you can buy.”
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Butler County saw the largest increase in home sales at nearly 13 percent in December. Warren County was up 10 percent, Hamilton up 9.4 percent and Clermont up 4.7 percent.
The current median home sale price in Greater Cincinnati is $189,900, up from $166,250 one year ago. Butler County actually saw the smallest gain of all four counties at just a 1 .1 percent increase. Meanwhile, home sale prices in December 2019 compared to December 2018 were up 12 percent in Warren County, 13.6 percent in Hamilton County and 15.6 percent in Clermont County.