Is Cincinnati, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Cincinnati has remained a Seller's Market.
Key Takeaway
Cincinnati is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cincinnati, OH
How much do homes in Cincinnati, OH cost?
Median Sold Price
$255,555
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Cincinnati have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Cincinnati was $255,555 in March 2024, up 1.7% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $220K | -4.3% |
| 2 Bedrooms | $170K | $191.7K | +12.8% |
| 3 Bedrooms | $215K | $250K | +16.3% |
| 4 Bedrooms | $378.6K | $329.9K | -12.9% |
| 5+ Bedrooms | $850K | $554K | -34.8% |
Summary: Cincinnati housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes decreased by 12.9%, and 5+ bedroom homes decreased by 34.8%.
Housing Supply in Cincinnati, OH
How many homes are available in Cincinnati, OH?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 227 | 201 | -11.5% |
Summary: The Cincinnati real estate market had 201 homes for sale in March 2024, a 11.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 6 | -14.3% |
| 2 Bedrooms | 45 | 42 | -6.7% |
| 3 Bedrooms | 107 | 87 | -18.7% |
| 4 Bedrooms | 54 | 54 | 0.0% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Cincinnati housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 18.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 66 | 65 | -1.5% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cincinnati, you may be able to get a good deal. 56.9% of homes here sold below asking price last month.
Summary: A total of 65 homes were sold or pending in Cincinnati in March 2024, down by 1.5% month-over-month. Of the 65 sold homes, 57% were sold under asking, 12% were sold at asking, and 31% were sold over asking.
Days on Market for Cincinnati, OH
How long does it take to sell a home in Cincinnati, OH?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 43 Days | 64 Days | +46.5% |
Summary: Homes in Cincinnati had an average of 64 days on market in Mar 2024, up by 46.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
43 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cincinnati has remained consistent over time.
Summary: During March 2024, 65 homes were sold in Cincinnati; 12% of homes were sold within 30 days, 66% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Copyright ©2024 by the Multiple Listing Service of Greater Cincinnati, Inc. All rights reserved. For the most current information, contact your Broker.
This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are marked with the BR logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2024 DABR MLS. All Rights Reserved
The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.