Steaming into 2024 Cincinnati Single- Family Home Sales
Steaming into 2024 Cincinnati Single- Family Home Sales
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As 2023 disappears the local real estate market is steaming into 2024!
Comparing the same period in 2022 to 2023 (January 1- December 20) prices have appreciated and the number of homes sold has declined.
| 2022 | 2023 | |||||
|---|---|---|---|---|---|---|
| Area | # Closed | Avg List Price | Avg Sale Price | # Closed | Avg List Price | Avg Sale Price |
| All | 21,799 | $309,730 | $311,786 | 16,213 | $334,607 | $335,262 |
| Butler County | 4,177 | $288,428 | $299,449 | 3,227 | $316,496 | $316,639 |
| Clermont County | 2,364 | $311,278 | $311,278 | 1,952 | $340,246 | $339,707 |
| Hamilton County | 9,144 | $314,442 | $314,442 | 6,963 | $340,811 | $343,138 |
| Warren Couty | 2,645 | $409,630 | $409,630 | 1,879 | $446,789 | $447,257 |
(Data from Realty Alliance of Greater Cincinnati MLS)
In 2023 fewer homes sold and at higher prices. Not all areas experienced a huge percentage of homes selling above the asking price. However, some buyers are still willing to overbid in some neighborhoods. The MLS has also reflected more homes returning to the market (deals went down) and price reductions.
The predictions for the 2024 real estate market are all over the media. Remember the data covers the whole country and real estate is really local. If rates remain steady and outside disruptions stay low (high gas prices, wars, politics) we are in for another good year.
Will everyone find the house of their dreams in 2024- doubtful. But as more new construction hits the market, especially aimed at empty nesters, many buyers may find what they want.
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