Cincinnati, OH
Housing Market
Cincinnati's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Cincinnati's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellCincinnati Housing Market Overview
Cincinnati's housing market offers a broad range of properties, from cozy single-family homes to modern townhouses. Currently, the median sale price in the city stands at $253,500, a 5.6% increase YoY. Properties in Cincinnati typically stay on the market for 66 days, up by a significant 46 days from this time last year.
Cincinnati has seen consistent growth in property values, driven by its expanding economy, diverse job opportunities, and rich cultural atmosphere. Home sales remain relatively stable, with 238 homes sold recently. The city's real estate market remains an integral part of Ohio's economy. Known for its blend of urban and suburban living, neighborhoods like Oakley and Mount Adams appeal to both first-time buyers and investors. Sellers can take advantage of the market if they price their properties appropriately, and emphasize key features that buyers look for.
Cincinnati has seen consistent growth in property values, driven by its expanding economy, diverse job opportunities, and rich cultural atmosphere. Home sales remain relatively stable, with 238 homes sold recently. The city's real estate market remains an integral part of Ohio's economy. Known for its blend of urban and suburban living, neighborhoods like Oakley and Mount Adams appeal to both first-time buyers and investors. Sellers can take advantage of the market if they price their properties appropriately, and emphasize key features that buyers look for.
Median Sale Price
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Cincinnati Housing Supply
Cincinnati's real estate market is an attractive option for investors due to its steady demand and thriving economy. Currently, there are 842 homes for sale in Cincinnati, a notable 62.24% increase in inventory. Moreover, 334 new listings have entered the market, which gives buyers more options to consider. The housing supply in Cincinnati currently stands at 3.6 months, which points to a competitive market where sellers still hold the advantage.
Cincinnati's housing inventory fluctuates seasonally, with spring and summer seeing an influx of new listings. This period typically brings both sellers and buyers to the table, as they hope to close deals before the school year begins or the weather cools down. The city offers a desirable lifestyle, blending urban amenities with suburban charm, which continues to drive demand. Popular neighborhoods like Hyde Park, Oakley, and Clifton offer a variety of properties, from traditional single-family homes to modern townhouses. Cincinnati's strong job market, cultural institutions, and easy access to major highways make it a prime destination for buyers.
Cincinnati's housing inventory fluctuates seasonally, with spring and summer seeing an influx of new listings. This period typically brings both sellers and buyers to the table, as they hope to close deals before the school year begins or the weather cools down. The city offers a desirable lifestyle, blending urban amenities with suburban charm, which continues to drive demand. Popular neighborhoods like Hyde Park, Oakley, and Clifton offer a variety of properties, from traditional single-family homes to modern townhouses. Cincinnati's strong job market, cultural institutions, and easy access to major highways make it a prime destination for buyers.
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Cincinnati
Cincinnati Housing Demand
Cincinnati's real estate market has recently shown some shifts in competition. Currently, 26.9% of homes are selling above their list price, which indicates strong demand. However, 17.5% of homes have seen price reductions, so some sellers are having to adjust their expectations. The sale-to-list price ratio stands at 97.8%. This means that most sellers receive close to their asking price, but buyers still have room for negotiation.
As a seller, pricing your home correctly from the beginning is essential to avoid needless price reductions. If it's a buyer's market, you may want to offer concessions instead of lowering your sale price. If the sale-to-list price ratio is closer to 100%, expect to get close to your asking price, but be prepared for potential negotiations. As a buyer, focusing on homes with longer listing periods may present more opportunities for negotiation. Additionally, homes with previous price reductions may give you a better chance to bargain a favorable price.
As a seller, pricing your home correctly from the beginning is essential to avoid needless price reductions. If it's a buyer's market, you may want to offer concessions instead of lowering your sale price. If the sale-to-list price ratio is closer to 100%, expect to get close to your asking price, but be prepared for potential negotiations. As a buyer, focusing on homes with longer listing periods may present more opportunities for negotiation. Additionally, homes with previous price reductions may give you a better chance to bargain a favorable price.
Homes Sold Above List Price
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Strong
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Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Cincinnati Housing Market: When to Buy or Sell?
Cincinnati's housing market sees both buyer-friendly and seller-friendly conditions over the course of the year. Like the broader Ohio real estate market, the Cincinnati market fluctuates on the basis of seasonal trends. When inventory rises and competition weakens, buyers gain the upper hand in negotiations. On the other hand, when demand outpaces supply, sellers can benefit from higher prices and faster sales.
If Cincinnati's housing supply moves beyond the balanced range of the US real estate market (5 to 6 months), buyers will get more time to carefully consider their options. Conversely, a shorter supply period will favor sellers. Keeping track of these shifts in the market can help you make the most of current conditions.
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Frequently Asked Questions
How have Cincinnati house prices changed over the past year?
Over the past year, the median home price in Cincinnati has increased by 5.6%, to reach $253,500. Cincinnati's real estate market remains active, with both single-family homes and condos seeing steady price growth. You can check your home's fair market value with our free home value estimator to decide on your initial asking price and compare it with other properties in your area.
What are Cincinnati real estate market predictions for 2025?
Home prices in Cincinnati are likely to continue to rise in 2025. Demand remains strong, driven by Cincinnati's job market and affordable lifestyle. However, buyers across the Ohio housing market may be affected by the rising mortgage rates.
What's the average house prices in Cincinnati, Ohio?
The average price for homes in Cincinnati varies depending on type and size. Condos average $217,500, while single-family homes typically cost $262,750. Moreover, you can search for cheap homes for sale in Cincinnati to find properties within your budget.
Is this a good time to buy a home in Cincinnati, OH?
It's important to assess Cincinnati's market factors like housing costs, inventory levels, and mortgage rates. If inventory is high and mortgage rates stabilize, you could find good opportunities to purchase a home.
Should I check Cincinnati housing market trends?
The housing market in Cincinnati typically remains stable throughout the year. You should check current market trends to determine the best time to act, whether you're buying, selling or investing.
When will the Cincinnati housing market experience a downturn?
Market forecasts suggest that a downturn in Cincinnati's housing market is unlikely. In fact, home prices are expected to rise at a steady pace, although increased inventory may lead to some price adjustments down the line.
What is the process of buying a house in Cincinnati?
Begin by determining your budget and getting a mortgage pre-approval. After that, browse Cincinnati houses for sale, submit offers, secure financing, and close the deal.
How can I list my home for sale in Cincinnati, OH?
You can list your home for sale using a Flat Fee MLS Ohio listing service. Platforms like Houzeo help streamline the process by assigning the right MLS paperwork for your location, saving you thousands on agent commissions. 🚀
What are the current mortgage rates in Cincinnati, Ohio?
The average mortgage rate for buyers fluctuates between 6.8% and 7%. However, it depends on the market and your credit score. Always check current rates with multiple lenders before you apply.
What is the cost of living in Cincinnati, Ohio?
Cincinnati's cost of living is 4% lower than the national average. Moreover, housing costs are 13% lower than the US median. Transportation and utilities are also relatively cheaper here, making Cincinnati a cost-effective place to call home.
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