COVINGTON, Ky. - On Wednesday, both the Northern Kentucky Association of Realtors and Cincinnati Area Board of Realtors released single family home sales data from the first seven months of this year and the same time period for last year.
House value rose in Cincinnati by 2.25 percent since this time last year, and in Northern Kentucky, it dropped 3.66 percent. While both are anything too drastic to point toward a trend, what is interesting is the rate in which new listings are being sold.
Both sides of the river are selling more quickly than last year. N.Ky. houses sold in 105 days during 2011 and have been purchased more quickly this year, 86 days on average.
The president of the Northern Kentucky Association of Realtors, Ken Warden, said that the "buyer's market pendulum" is more centered for sellers than it had been in the past five years.
"It swings from side to side and very seldom is it ever in the middle, and if you can find that middle, which I think were pretty close to right now, it's the best time to buy," said Warden. "If that inventory keeps going lower, that pendulum is going to swing more towards the seller, because there's less for them to choose from, supply and demand."
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