May single-family home sales are blooming!

The number of properties sold in May 2022 was 2,431, up 10.85% from 2,193 in the previous month and 1.63% higher than 2,392 in May 2021. The May 2022 sales were at their highest level compared to May 2021 and 2020. The absorption rate is the avg number of sales per month divided by the total number of available properties.

Property Sales & Absorption Rate

The median sales price in May 2022 was $265,000, up 6.85% from $248,000 in the previous month and 10.88% higher than $239,000 in May 2021. The May 2022 median sales price was at its highest level compared to May 2021 and 2020. The average sales price in May 2022 was $317,505, up 7.03% from $296,643 in the previous month and 9.81% higher than $289,150 in May 2021. The May 2022 average sale price was at its highest level compared to May 2021 and 2020.

Prices

The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, and a downward trend tends to indicate a move towards a seller’s market. The DOM for May 2022 was 14 days, down -6.67% from 15 days from the previous month and -26.32% lower than 19 days from May 2021. The May 2022 DOM was at its lowest level compared with May 2021 and 2020

Market Time

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Total dollar sales volume for single-family homes.  Data pulled from the Realty Alliance of Greater Cincinnati MLS.

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

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