The Hamilton County Register of Deeds reported increases in all real estate transaction areas for fiscal year 2019 compared to fiscal year 2018.
Hamilton County Register of Deeds Marc Gravitt said, “Facing the Covid-19 pandemic, job furloughs and downturn in the stock market, the Hamilton County real estate market remains very strong.” During the recent shutdown months, the Register’s Office saw the conveyance amounts (sales), increase from $174 million for the month of April, to $265 million for the month of June.
That is a $91 million increase.
“Fiscal year 2019 totals also increased from fiscal year 2018. The conveyance (sales) totals for fiscal year 2018 were over $2.7 billion, with 2019 fiscal year being just over $3 billion, an increase of almost $300 million dollars," said Mr.
For July, the new fiscal year, the trend continued, recording almost $109 million in conveyance totals, and over $145 million in mortgage totals in just eight days. “Extremely low interest rates had a tremendous impact on refinancing as well. Fiscal year 2018 mortgage totals were over $3.7 billion, compared to fiscal year 2019 totals of over $4.8 billion in new mortgages, which is a $1.1 billion increase for real estate mortgages located in Hamilton County,” Mr. Gravitt said.