The Greater Cincinnati Real Estate market is again revealing a mix of rising property values and shifting market dynamics. The median sales price last month reached $249,950, marking a 8% increase
Greater Cincinnati December Market Report
Dated: January 12 2024
Outside of the unicorn years, December has traditionally been the slowest month of the year, and this year was no exception. The Greater Cincinnati Real Estate market is again revealing a mix of rising property values and shifting market dynamics. The median sales price last month reached $255,000, marking a 6.3% increase from last year’s figure of $240,000. The current year-to-date median is now at $270,000, continuing the trend of increasing property values.
However, the market also experienced a downturn in some areas. The number of units sold in December was 1,216, a significant 24.2% decrease from December 2022. Additionally, the total volume sold in December was $379,766,788 down 17.4% from December 2022.
The trend in rising property values is good news for homeowners, however the market is still adjusting. The 40% increase in Days on Market and 6.4% increase in existing inventory, with the decrease in activity in units sold and total volume indicates buyers and sellers alike are treading lightly in this market. As your trusted advisors, we are monitoring these trends closely to help you navigate the market effectively.
For information on your personal real estate please contact us.
There are two things that I believe must remain constant in today’s fast paced real estate world - integrity and exceptional service. As the previous Principal Broker for Coldwell Banker Realty ....
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