“By NPG DataQuest 6/29/12”
The graph below depicts the price distribution curve for single family home closings in the 7 County Greater Cincinnati/NKY region for the 12 month periods ending in April 2010, April 2011 and 2012. The year ending in 2010 is more heavily weighted on homes priced under $200,000. After the expiration of the First Time Homebuyer Tax Credit program in 2010 prices began to rise. During the 12 months ending April 2011 the number of homes priced over $300,000 including “Owner Financed” homes increased from 22% of sales to 31%. During the 12 months ending April 2012, that segment of the market increased another 2% to 33% of single family sales.
The median price for homes during this period is $226,860, up 4% from the prior year.
Owner Financed describes a home where the end user of the home finances the construction thereby eliminating a publicly recorded transfer price. Owner Financed homes are generally higher end homes over $300,000. Closings referenced in this chart include those homes located within the developments tracked by NPG DataQuest.
NPG DataQuest offers permit and closing information by school district, political jurisdiction, MLS area and zip code. In addition, on the ground activity is tracked for over 900 active subdivisions providing lot and home inventory status. For more details on this information, contact Maureen McDermott at (513) 404-6481.