The Cincinnati real estate market is starting to make a recovery, at least according to some of the most important indicators of economic health in the real estate sector. According to an April 22, 1010 article in the Business Courier of Cincinnati, “Home sales in Greater Cincinnati and Northern Kentucky set an energetic pace in March, helped along by an extended federal tax credit for buyers. The Cincinnati Area Board of Realtors reported 1,583 closings in March, up almost 14 percent from 1,389 in March 2009. Gross volume improved 26 percent, to $241.1 million from $191.2 million, and the average sale price grew almost 11 percent, to $152,287 from $137,648.” The piece continued to note that “…gross volume is up 12 percent, to $510.4 million from $455.2 million, and the average sale price rose 14 percent, to $150,999 from $132,300.”

This same good news for Cincinnati homes for sale was reported by an April 22, 2010 article in the Cincinnati Enquirer. This piece found that “Home sales rose across the region in March – jumping nearly 14 percent in Southwest Ohio and roughly 3 percent in Northern Kentucky, according to reports out today. All told, 1,583 homes were sold in March, up 13.9 percent compared to the same month last year, according to the Cincinnati Area Board of Realtors. In Northern Kentucky, sales climbed 3.2 percent with 388 sales compared to 376 sales in March 2009.” The article, written by Lisa Bernard-Kuhn, continued to state that “Realtors credit the boost in March to federal tax credits for first-time buyers worth up to $8,000 and up to $6,500 for repeat buyers.”

Foreclosures in the Cincinnati real estate market are less of a problem recently, thanks to a series of local, community, and government efforts, according to another article in the Enquirer by Gregory Korte. This piece, released on April 19, 2010, found that “The city is also helping to buy and fix up homes in the neighborhoods of Avondale, Bond Hill, College Hill, Madisonville, Northside and Westwood. In South Fairmount, the federal money is tearing down blighted homes, and in Evanston it’s being used to build affordable housing.”