Tri-state home sales increased in December 2015 when compared to the same month of 2014. According to local realtors, the entire year was better too.
The Cincinnati Area Board of Realtors reports December home sales were 10.4 percent above the same period a year ago. The Northern Kentucky Association of Realtors says the story is similar south of the Ohio River too. Sales were nearly 32 percent better in December 2015 than 2014.
Both groups report a banner year. “2015 was a great year for Greater Cincinnati, recording the most home sales since 2006,” said Patti Stehlin, president of the Cincinnati Area Board of Realtors. She credits low interest rates, fewer homes for sale, and lower prices.
Closings were up more than 7 percent. The average price was nearly 3 percent higher than 2014.
Jim Simpson, president of the Northern Kentucky Association of Realtors says home sales were 6.4 percent higher and the average price of a home increased 5.73 percent. The total volume of sales in Northern Kentucky in 2015 was $1.04 billion, the highest since 2006.