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Luxury Markets Report G R E A T E R C I N C I N N A T I The Leaders in Luxury Real Estate comey.com We anticipate that 2017 will bring some downward pressure on prices above 500 000 as inventory in the upper end swells in contrast to increasingly tight inventory under 500 000. Indeed for the market below the 500 000 level inventory is showing signs of tightening further from 2016 and 2015. As a result we are currently witnessing two very different markets in greater Cincinnati between the higher and lower ends of the pricing spectrum. In spite of tightening inventory under 500 000 we have managed to post sales gains the past two years. However experts wonder where the tipping point is which could cause a lull in sales due to extremely low inventory. Throughout the U.S. and beyond luxury real estate in a variety of markets traded successfully in 2016. An array of properties from Christie s listed below gives an interesting cross-section of premier properties around the country and around the globe. Holmby Hills California US 105 000 000 Paris France US 26 910 000 Point Piper NSW Australia US 15 793 211 San Francisco California US 10 950 000 Hong Kong China US 8 110 000 2478 Middleboro Road Washington Twp. Cincinnati OH US 2 975 000 Throughout the year we will continue to publish BEST Fine Homes showcasing distinctive listings in the Greater Cincinnati area. SIGNIFICANT W We hope you will enjoy our Luxury Markets Report which surveys the entire Cincinnati and Northern Kentucky market neighborhood by neighborhood. Comey & Shepherd has long been the leader in the upper end of Cincinnati real estate. Our exclusive affiliation with Christie s International Real Estate the real estate arm of the art and auction house extends our reach and provides us with a connection to the national and international residential luxury market. Additionally our in-house luxury publication BEST Magazine provides a forum to promote the many luxury listings that our agents handle. Local Sales WASHINGTON TWP 2478 Middleboro Road Sold in November 2016 for 2 975 000 Luxury equine estate on 149 acres with lake fenced pastures 11 stall stable and indoor arena. MOUNT ADAMS 402 Baum Street Sold in February 2016 for 1 418 533 This superior home is a masterpiece of architectural excellence. Well planned and upscale features including sweeping city and river views dramatic design 600 sq ft rooftop terrace 10 ceilings and 3 car garage. INDIAN HILL 9125 Brokensound Lane Sold in June 2016 for 1 620 000 Privacy and natural splendor is to be enjoyed in this elegant Indian Hill estate. Features include beautiful spaces and exceptional appointments throughout. This home sits on 5 private acres that overlooks a 3 4 acre pond. LUXURY Market Recap 2017 In most neighborhoods that comprise the Greater Cincinnati real estate market we consider single-family homes and condominiums valued at 500 000 and above to be the luxury market. As you review the numbers below please keep in mind that the average and median list and sales prices are directly influenced by the types of properties sold during that year. A dramatic increase or decrease in the figures might simply be a reflection of the quality and value of properties sold in that area not a direct reflection of what has happened to that community s property values in general. For a more detailed analysis of what your home could be worth in today s market we always recommend consulting with one of our real estate experts. Active Listings Homes Sold Total Sales Volume Average List Price Average Sale Price Average DOM Median List Price Median Sale Price Median DOM aMberLey ViLLage 7 2015 12 2016 13 2015 61 2016 67 2015 14 2016 30 2015 11 2016 30 2015 11 2016 8 2015 25 2016 28 2015 102 2016 131 2015 100 2016 98 2015 84 2016 69 8 631 875 8 427 830 823 500 674 444 719 323 648 295 129 91 679 000 634 900 665 500 612 000 58 46 anderson & neWtoWn doWntoWn oVer-tHe-rHine & tHe riVerfront east WaLnut HiLLs gasLigHt cLifton 40 42 058 215 43 999 982 714 715 679 648 689 479 656 716 87 95 649 900 645 000 629 000 612 500 46 45 19 9 348 435 20 240 895 679 207 687 173 667 745 674 697 47 107 599 000 596 500 584 806 590 000 30 48 8 8 112 700 26 119 500 790 136 964 920 737 518 870 650 140 213 829 000 745 700 775 000 740 750 61 53 4 6 752 800 4 939 500 632 482 627 600 613 891 617 438 58 98 595 000 589 450 540 000 577 500 33 10 HaMiLton tWP & soutH Lebanon Hyde Park & Mt. Lookout indian HiLL LoVeLand MiaMi tWP & syMMes tWP 36 19 102 540 17 321 651 781 125 652 620 764 102 618 630 107 153 648 500 599 000 612 000 569 626 69 94 51 80 550 591 113 537 774 837 267 888 311 789 712 866 701 35 68 699 000 750 000 675 000 750 000 8 18 54 113 429 040 107 769 073 1 243 012 1 186 719 1 134 290 1 099 684 107 196 1 062 500 1 000 000 1 085 000 952 500 69 119 70 53 199 957 44 370 854 654 457 663 909 633 333 643 056 55 103 624 950 649 900 604 400 615 000 24 61 Source MLS of Greater Cincinnati DOM Days on Market. DOM reflect only the current listing period List price reflects asking price at time of contract acceptance. Active listings as of 1 10 2017. MarieMont 10 2015 30 2016 17 2015 110 2016 97 2015 47 2016 61 2015 19 2016 16 2015 2 2016 8 2015 17 2016 24 2015 67 2016 66 Homes Sold 21 613 147 11 374 000 738 660 687 041 720 438 669 059 137 69 675 000 639 000 665 250 610 000 29 21 Mason & deerfieLd tWP MontgoMery 80 84 240 776 66 218 572 789 999 711 437 765 825 682 666 77 131 679 554 619 000 655 000 600 000 33 76 42 35 707 889 48 189 965 786 836 785 277 759 742 789 999 139 100 749 900 789 000 765 000 771 000 90 17 Mt. adaMs nortH aVondaLe 14 18 199 433 14 820 214 1 032 174 952 8384 957 865 926 263 269 139 1 100 000 950 000 962 500 904 000 118 122 3 982 500 3 954 000 509 500 534 225 491 250 494 250 11 72 509 500 524 450 491 250 470 000 10 61 Properties priced at 400 000 terrace Park West cHester Liberty tWP & beckett ridge nortHern kentucky ft. MitcHeLL 15 11 676 100 15 973 275 712 188 700 729 686 829 665 553 48 117 689 000 622 450 650 000 595 000 12 48 54 45 409 518 43 629 247 Total Sales Volume 699 716 681 599 Average List Price 677 754 661 049 Average Sale Price 107 175 Average DOM 625 000 625 000 Median List Price 607 315 594 418 Median Sale Price 56 111 Median DOM Active Listings 6 2015 8 2016 14 2015 18 2016 14 2015 18 2016 27 2015 19 2016 21 2015 33 2016 26 5 624 600 9 661 650 715 825 724 650 703 075 690 117 12 32 565 660 677 450 574 160 663 500 6 6 ft. tHoMas riVerfront coVington neWPort & beLLeVue 2 10 452 067 8 772 829 610 513 651 895 580 670 626 630 114 112 577 450 641 300 543 000 613 800 67 53 38 13 801 303 20 993 446 832 244 834 418 766 739 775 312 212 184 699 450 697 500 655 000 659 000 148 108 ViLLa HiLLs 19 crescent sPrings Park HiLLs & edgeWood union 32 12 809 500 14 774 330 21 338 625 16 509 595 723 721 746 471 695 964 660 540 674 184 703 539 646 625 634 984 142 99 121 84 639 900 649 900 638 800 632 000 617 500 634 450 594 000 607 500 74 41 80 57 Corporate Office 6901 Wooster Pike Cincinnati Ohio 45227 Phone (513) 561-5800 Fax (513) 561-0292 Other offices Anderson Blue Ash City Fort Wright KY Harrison Hyde Park Lebanon Liberty Township Loveland Maineville Mariemont Montgomery Symmes Township West Chester