As the year’s end draws near, I’d like to take a moment to recap our market in 2018 and all the developments that came with it.
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Our real estate market was anything but normal this year—a number of factors were at odds with each other. So, all in all, was 2018 a good year? You might ask many different people this question and receive many different answers.
For our part, we helped many of our clients get their homes sold—in fact, nearly every seller that listed with us in 2018 not only sold their home, but they were also able to capture top dollar. We’d like to think our clients would say that 2018 was a good year to sell.
The market at large saw some changes in 2018: There was a 1.2% drop-off in homes sold in Cincinnati, which is partially attributable to lower inventory. In contrast, homes sold in the Greater Dayton area rose 1.4%, which is attributable to higher inventory and affordability.
But what about buyers? What would they say looking back at 2018?
Buyers who found conditions favorable to them were, unfortunately, few and far between. They were often frustrated by scarce inventory. When buyers were able to find a home befitting of their needs, they had to strike quickly with a strong offer.
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We’d like to think our clients would say
that 2018 was a good year to sell.”
Still, they could only hope that they hadn’t been outbid by the competition. Many routinely were, which discouraged them from going any further.
Homebuyers who successfully made a purchase in 2018 will go into 2019 being that much more pleased that they did—interests rates and home prices are projected to continue climbing.
There may have been a few small windows of opportunity for buyers this past year, but those windows are likely to not appear in the near future, so congratulations to the buyers who took action, overcame adverse market conditions, and got into their new home.
Be sure to stay tuned for my next video where I will detail my predictions for 2019 and answer some questions that will be on everyone’s mind about the market.
If we can help you with any of your real estate needs, give us a call today at 1 800-722-2585. We’re here for you every step of the way!