After 20 straight months of increased home sales in Greater Cincinnati, the Cincinnati Area Board of Realtors reports a 14.8 percent increase in February sales and active listings or houses available for sale down 15.5 percent from March 2012.
Mariemont residents and realtors, George Peck and Jerry Garrison complain that there is insufficient inventory of homes for sale to meet the demand in Mariemont. Even though in the Greater Cincinnati region demand has increased relative to supply, prices have inched up only 3 % in Southwest Ohio during 2012.
During the past five months (November, December, January, February and March) in Mariemont, 97 homes have sold from a cumulative inventory month-over-month of 283. The average selling price has gone from $322,000 to $350,604 over this five month period. The average days on market have varied and show no consistent pattern.
It is difficult to identify a distinct trend, but the market does seem to be improving from a homeowner’s standpoint in Mariemont.
Real Estate data for February-March
Information from Sotheby’s Realty
| Neighborhood | # sold | Active Listings | Average List | Average Sale Price | Days on Market |
|---|---|---|---|---|---|
| Mariemont | 5 | 32 | 428,647 | 350,04 | 131 |
| Terrace Park | 1 | 18 | 674,278 | 1,125,000 | 85 |
| Indian Hill | 5 | 78 | 1,669,365 | 1,036,900 | 89 |
| Maderia | 7 | 49 | 378,965 | 218,857 | 115 |
| Madison Place | 2 | 13 | 107,662 | 88,500 | 168 |
| Hyde Park | 12 | 90 | 390,703 | 324,238 | 95 |
| Newtown | 1 | 19 | 210,661 | 600,000 | 54 |