October 2022 Home Sales in Greater Cincinnati
October 2022 Home Sales in Greater Cincinnati
Source: Shutterstock_109385493
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October single-family home sales continue to move toward a more balanced market!
Source: Shutterstock_109385493
The overview below shows real estate activity from January 2022 to October 2022. You will see data comparisons between October and the previous month, the last three months, and October 2021.
Monthly Trends
Realty Alliance of Greater Cincinnati MLS Results
The number of properties sold in October 2022 was 1,588, down -18.10% from 1,939 from the previous month and -29.23% lower than 2,244 from October 2021. The October 2022 sales were at their lowest level compared to October 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 October 2022 was $255,250, down -1.83% from $260,000 from the previous month and 2.61% higher than $248,750 from October 2021. The October 2022 median sales price was at its highest level compared to October 2021 and 2020. The average sales price in October 2022 was $306,024, down -2.29% from $313,187 from the previous month and 5.92% higher than $288,916 from October 2021. The October 2022 average sale price was at its highest level compared to October 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 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 toward a seller’s market.
The DOM for October 2022 was 20 days, up 5.26% from 19 days from the previous month and 17.65% higher than 17 days from October 2021. The October 2022 DOM was at a mid-level compared with October 2021 and 2020.
Days on Market
Home Sales by County. Data pulled from the Realty Alliance of Greater Cincinnati MLS.
The market continues to change. For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt
