We will discuss the latest Cincinnati real estate market trends & news and find out how they can affect the investors and homebuyers in the latter half of 2020. Low-interest and unemployment rates, the influx of high-paying jobs, and very affordable housing make Greater Cincinnati a great place for people to live and work. 2020 started strong with an increase in home sales in the Greater Cincinnati housing market. In January, the average home price rose to $219,497, a year-over-year increase of 8.79%. The inventory of homes for sale dropped by 23.2 % as more and more millennials and families entered the market to purchase their dream homes.
Due to the impact of Covid-19, the sales in April were down by 20.21% compared to a record April a year ago. The inventory of homes for sale continued its year-over-year declining trend and that shows that there are plenty of buyers in the market ready to scoop up properties and take advantage of low investor turn out.