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According to RE/MAX’s June national housing report, Cincinnati’s tri-state area is the hottest selling real estate market in the U.S. Houses in the area are selling so fast that the average time a house is on the market is just over a week at nine days! Just for a little context to understand how crazy this is, the national average for June was 24 days.
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In addition to homes selling fast in Cincinnati, the median home price in the Cincinnati area went up by 18.5% in the last year. Rental prices have also been going up in the area with the median landing at $1,200 which is also a 17.1% increase from June of 2020. “Looking forward, rents aren’t expected to slow unless we see a fundamental shift in the number of homes for sale and for rent,” said Realtor.com Chief Economist Danielle Hale.
If you’re looking into entering the housing market (rental or selling) bring a bit of patience along with your check because it doesn’t appear to be slowing down anytime soon.
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See What City in Ohio Was Named the Hottest Real Estate Market in the U.S. was originally published on rnbcincy.com
