Is Cincinnati, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$255,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cincinnati have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Cincinnati was $255,000 in May 2024, up 1.9% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $240K | +4.3% |
| 2 Bedrooms | $168.4K | $195K | +15.8% |
| 3 Bedrooms | $225K | $248.5K | +10.4% |
| 4 Bedrooms | $377.2K | $322.4K | -14.5% |
| 5+ Bedrooms | $855K | $580K | -32.2% |
Summary: Cincinnati housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 15.8%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 14.5%, and 5+ bedroom homes decreased by 32.2%.
Housing Supply in Cincinnati, OH
How many homes are available in Cincinnati, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 213 | 369 | +73.2% |
Summary: The Cincinnati real estate market had 369 homes for sale in May 2024, a 73.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 11 | +22.2% |
| 2 Bedrooms | 37 | 81 | +118.9% |
| 3 Bedrooms | 102 | 162 | +58.8% |
| 4 Bedrooms | 52 | 85 | +63.5% |
| 5+ Bedrooms | 13 | 30 | +130.8% |
Summary: The Cincinnati housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 118.9%, 3 bedroom homes increased by 58.8%, 4 bedroom homes increased by 63.5%, and 5+ bedroom homes increased by 130.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 108 | +170.0% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cincinnati, you could pay more than the asking price. 46.3% of homes here sold above asking price last month.
Summary: A total of 108 homes were sold or pending in Cincinnati in May 2024, up by 170.0% month-over-month. Of the 108 sold homes, 37% were sold under asking, 17% were sold at asking, and 46% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 40 Days | -16.0% |
Summary: Homes in Cincinnati had an average of 40 days on market in May 2024, down by 16% compared to last year.
Breakdown of Home Sale Times
67 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cincinnati are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 108 homes were sold in Cincinnati; 62% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% 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.