August 2022 Single Family Home Sales in Cincinnati
August 2022 Single Family Home Sales in Cincinnati
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August home sales moving toward a more balanced market!
Monthly Trends
The number of properties sold in August 2022 was 2,130, up 4.36% from 2,041 in the previous month and -13.66% lower than 2,467 in August 2021. The August 2022 sales were at their lowest level compared to August 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 August 2022 was $270,000, equal to the previous month and 7.14% higher than $252,000 in August 2021. The August 2022 median sales price was at its highest level compared to August 2021 and 2020.
The average sales price in August 2022 was $321,318, equal to the previous month and 7.35% higher than $299,319 in August 2021. The August 2022 average sale price was at its highest level compared to August 2021 and 2020.
Average & Median Sale Prices
Same story as the last couple of months- single-family homes listed over 30 days most likely have a pricing issue.
The average days on the market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM indicates a move towards a buyer’s market, and a downward trend indicates a move towards a seller’s market.
The DOM for August 2022 was 17 days, up 41.67% from 12 days in the previous month and 30.77% higher than 13 days from August 2021. The August 2022 DOM was at a mid-level compared with August 2021 and 2020.
Market Time
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.[table “60” not found /]
The market is changing! For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt
