Moving is a big deal for any family. It can be exciting, but it’s also a lot of work. To make sure you make the best decision for your family, it’s important to be informed about the real estate market in the area you’re considering. Here are some quick real estate statistics that you should consider before making a move. When you work with a well-versed realtor like Monika DeRoussel, you have an real estate agent who knows the current market and can help with finding the right home for you and your family.

Average Home Prices and Trends

The average home price in the US as of the first quarter 2022 was $428,700, according to the Federal Reserve Bank of St. Louis. This is an increase of $58,900 from the year prior. For the same period, in the state of Ohio, the average home price is $213,360. For Cincinnati specifically, Redfin reported that the median sale price in December 2022 was $227,500 and was up 4.4% compared the last year.

Housing Supply and Demand

The demand for housing has been on the rise due to historically low mortgage rates and people looking for larger homes due to pandemic restrictions. The supply of houses, however, has not kept up with this demand due to limited construction activity caused by delays and labor shortages caused by safety protocols implemented at construction sites across the country. As a result, there is currently a nationwide housing shortage which can cause prices to spike quickly when properties become available in desirable locations or neighborhoods.

Selling with a Realtor

One more area you will want to consider when selling your home is choosing a realtor. Homes for sale by a realtor tend to sell faster than homes for sale by owner. Monika DeRoussel is a licensed realtor in Ohio. She will work with you to sell your home for the best price possible.

Making a move is never easy no matter what your circumstances are. So it’s important to do your research before deciding on where you’ll settle down next! With these real estate statistics in mind, you can make sure you’re making an informed decision while searching for your next home that will benefit your family. If you are considering a move in 2023, let experienced realtor Monika DeRoussel help you find your dream home and sell your current home. Call her for more information today.