June has established itself to be a good month for the residential real estate market in Greater Cincinnati, because the Mason OH homes for sale have been selling quickly. According to the Cincinnati Area Board of Realtors, home sales have a 7.6% rise with an increase of closings from 1978 in June 2009 to 2129 this June. This improvement was mainly driven by the announcement of federal tax credits, which stated that individuals will need to complete their closings by June 2010 to get a maximum tax credit of $8000.
There is a 12.6% rise in the gross volume of home sales in June alone and has reached $366 million with the average price being $171, 827, a 4.6% rise. Year-to-date, Cincinnati residential property has experienced a 12% improvement in home sales with 9500 closings, 21% increase in gross volume of home sales to $1.5 billion and 8.4% increase in the average price of the homes sold to $157,421.
Similar to Cincinnati, there have been good improvements in Northern Kentucky as well, since both locations are considered in the Greater Cincinnati area (even Dayton, Ohio is part of it). According to Northern Kentucky Association of Realtors, the real estate market sales have increased 4.6% from 500 to 523 closings, on comparing the previous June with this June. There is a 24% rise in the gross volume of the home sales to $82 million from about $67 million and an 18% increase in the average price of the homes sold to $157,640.
Year-to-date, Northern Kentucky (with it’s bustling city of Newport, that’s right across the river from Cincinnati, and an easy commute downtown) has experienced a 9% improvement in home sales with 2434 closings from 2009, 15% increase in gross volume of home sales to $347 million and 5.9% increase in the average price of the homes sold to $142,849. Overall, June has shown a good number of stability signs and the real estate has improved 9.8% on a nationwide basis the past June of this year.
