Slowly declining single-family home sales in July! 

The number of properties sold in July 2022 was 2,017, down -11.11% from 2,269 in the previous month and -12.80% lower than 2,313 in July 2021. The July 2022 sales were at its lowest level compared to July 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 July 2022 was $270,800, down -6.62% from $290,000 in the previous month and 6.20% higher than $255,000 in July 2021. The July 2022 median sales price was at its highest level compared to July 2021 and 2020.

The average sales price in July 2022 was $322,841, down -6.32% from $344,623 in the previous month and 4.67% higher than $308,425 in July 2021. The July 2022 average sale price was at its highest level compared to July 2021 and 2020.

Average & Median Sale Prices

Single-family homes have not been sitting on the market for very long.  Listings over 30 days probably have a pricing issue.

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 toward a buyer’s market, and a downward trend tends to indicate a move towards a seller’s market.

The DOM for July 2022 was 12 days, down -14.29% from 14 days from the previous month and equal to July 2021. The July 2022 DOM was at its lowest level compared with July 2021 and 2020.

Market Time

Search

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