Median Sold Price Increase Puts Pressure on Housing Affordability

Dated: June 14 2021

Views: 281

Interest rates continue to remain around 3%, according to the National Association of REALTORS® (NAR). Condo prices lead the way with prices up 18% from the same time last year, with single-family homes prices following closely behind at 17%. “The consistent trend of aggressive pricing and the shrinking supply of homes hitting the market continues to create a bigger housing affordability issue,” says Stephanie Sudbrack-Busam, President of the Cincinnati Area Board of REALTORS®. While there was an increase of 1.4% of new listings compared to the year prior, the active inventory is down a staggering 43.9%. 


Housing affordability is an issue across all five Ohio counties in the Cincinnati market. Warren County remains the least affordable of the five counties, but the trend line stays the most consistent. Butler, Clermont, and Hamilton Counties all follow the same down-sloping trend. Brown County remains the most affordable, but overall, there is still a downtrend. Brown County is the only county who saw an affordability increase from the same period in the prior year.  

Blog author image

Michelle Meenach

Cincinnati’s Top 3% | Sr Sales Vice President | selling Fast for Top Dollar | from Neighborhood to Luxury, I'll help you find the Home you Love As your Realtor, I bring a breadth of experience and ....

Latest Blog Posts

Congratulations Michelle Meenach, Realtor®, your neighbors love you!

It's official...  The votes are in: neighbors voted you a 2021 Neighborhood Favorite.As the only local business awards voted on by neighbors, we're happy to help your community officially

Read More

5 Real Estate Myths

Don't Get Caught in These TrapsJust like our economy, the real estate market is always changing. With those changes, you'll often hear "truths" circulating that are, well, less than true.In this

Read More

¡ Halloween Celebrations Are Back !

 Halloween is right around the corner meaning trick-or-treaters will come home with lots of candy. Not only are our communities some of the best places to live, but they are also some of

Read More

The TOP REASONS most home purchases FALL THROUGH

Yes, some home sales don’t make it to closing. There are a number of situations that may derail a deal, and it’s a nightmare-come-true when it happens.The good news is that the

Read More