Hyde Park Market Update Spring 2019

Hyde Park Market Update Spring 2019

In response to requests for real estate market data in various Cincinnati neighborhoods where our clients buy and sell property, we will regularly publish key stats. So, bookmark this website, and visit often! 

Today, lets take a look at Hyde Park! To catch us up on what's been happening in 2019 so far, here is a summary of year-to-date information for Hyde Park.

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Hyde Park, Ohio Real Estate Market Data so far in 2019...

- 51 residential properties traded hands from January 1st through March 24th ranging from $79,100 (don't get excited...it was a rundown lender-owned property sold at auction!) all the way to $2,450,000

- The average sale price during the year to date period was $479,768 and the average list price was $502,093. Cumulative days on the market was 155 days. Please see my comments below on these figures, as a lot of this data was skewed by "one-time" anomalies.

- One multi-family property was sold for $380,000 this year (below its asking price of $500,000 after 180 days on the market) 

- One residential lot was sold for $275,000 this year (below its asking price of $350,00 after 312 days on the market)

Comparing Hyde Park's 2019 activity 2018...

- Here are the stats for Hyde Park during the same January 1-March 24 period last year:

- 58 residential properties sold from $100,000 to $1,020,000

- Average sale price was $372,907 

- Average list price was $386,817 

- Cumulative days on market was 84 days

- The 100k+ increase in the average sale price (and average list price) from 2018 to 2019 was significantly impacted by multiple $1 million+ sales (including 2 deals at above $2 million). The same is true of cumulative days on market. Without mentioning the culprits, a few of the higher priced transactions in 2019 were on the market for multiple years, negatively impacting the overall market stats.

Where the Hyde Park Market stands right now...

- 58 residential properties are currently on the market. Based on the inventory absorption levels so far this year, I believe our average cumulative days on market will shift back to under 100 days.

- There are currently 42 residential properties in pending status.

- Want to see EVERYTHING on the market in Hyde Park right now? Click here for a continuously updating link!

I'm happy to give you much more data and analysis individually if and when you want it - just ask!

Questions, comments, suggestions are always welcome! Feel free to call or text me at 513-900-0303 or e-mail me at dj@djpropertyteam.com 

Denis M. Joseph
Managing Director

Phone: 513.900.0303
Email: dj@djpropertyteam.com
License No. 2018004580 / Broker License No. 2011001311

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Denis Joseph Headshot
Phone: 513-900-0303
Dated: March 25th 2019
Views: 931
About Denis: I'm Team Lead of DJ Property Team, serving clients across the Cincinnati metro area. Real estate ...

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