Citizens For A Better Norwood

Friday, June 22, 2007

So, is Norwood a hot real estate market?

Today’s online edition of the Enquirer takes a detailed look at the Greater Cincinnati real estate market. Click here to compare Norwood’s 2006 average home prices and number of houses sold with other S.W. Ohio and N. KY neighborhoods. Then click here to find sales prices in your specific Norwood neighborhood.

The Enquirer’s research found that:

1. Between 2000 and 2005, equity in real estate turned out to be a surefire investment. In Greater Cincinnati, the average resale price of a single-family home rose 20 percent during that span to $191,225 from $159,125. In Northern Kentucky, the average price rose to $154,438, from $134,132, up 15 percent.

2. The mishmash of winners and losers produced a 5.9 percent drop in average resale prices in Hamilton, Butler, Clermont and Warren counties and a 1 percent gain in Northern Kentucky in 2006. For homeowners on the Ohio side, it was the first decline in home sale prices in more than 15 years.