2021 was a banner year for single-family home sales!

Source: Photo by Dave Morgan from Pexels

2021 sales slowed a bit at the end of the year- thankfully.  Still, lower sales don’t dim the spotlight on another record-breaking year for real estate in Cincinnati.  Economists and even the local Realtors® are anticipating another record-breaking year in 2022.  Maybe not as fast as 2021 but still a very busy year for local home sales.

Property Sales

December Property sales were 1,923, down -6.0% from 2,046 in December of 2020 and -7.8% lower than the 2,085 sales last month. December 2021 sales were at a mid-level compared to December of 2020 and 2019. December YTD sales of 24,600 are running 4.0% ahead of last year’s year-to-date sales of 23,648

Prices

The Median Sales Price in December was $240,000, up 7.6% from $223,000 in December of 2020 and down -3.6% from $249,000 last month. The Average Sales Price in December was $281,656, up 5.9% from $265,894 in December of 2020 and down -3.2% from $291,039 last month. December 2021 ASP was at the highest level compared to December 2020 and 2019.

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 21, up 5.0% from 20 days last month and down -8.7% from 23 days in December of last year. The December 2021 DOM was at its lowest level compared with December 2020 and 2019.

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Total dollar sales volume for single-family homes.  Data pulled from the CincyMLS.

The average sale price for single-family home sales continues to climb across all counties.  compared to last year.

The Cincinnati Area Board of Realtors press release (01/24/22) covering 2021 sales:

For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation?  Anything else – Call/Txt