Cincinnati, OH – The REALTOR® Alliance of Greater Cincinnati has released the latest figures for the real estate market, revealing a mix of rising property values and shifting market dynamics for November 2023. The median sales price last month reached $275,500, marking an 8.1% increase from last year’s figure of $260,000. The current year-to-date median is now at $279,900, continuing the trend of increasing property values.

However, the market also experienced a downturn in certain areas. The number of units sold in November was 1,144, a significant 20.7% decrease from October 2023. Furthermore, the total volume sold in November amounted to $379,416,539, down 13.2% from October. This year’s cumulative sales volume stands at $5,080,263,919, trailing behind the prior year’s $6,253,295,839.

Anne Uchtman, President of the REALTOR® Alliance of Greater Cincinnati, commented on the market’s diverse trends. “While we’re seeing a continued rise in property values, which is great news for homeowners, the market is also undergoing adjustments. The decrease in units sold and total volume indicates a more cautious approach from buyers and sellers alike. However, the increase in active inventory and median days on the market shows there are still opportunities for both. We are monitoring these trends closely to navigate the market effectively,” said Dunne.

Active inventory for November was 1,915, a 22% increase from October, and the median days on the market was 26. Compared to October’s 2,100 active listings, a median of 17 days on the market, and 1,717 new listings, these figures suggest a changing landscape in the local real estate market.

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Despite these mixed signals, the REALTOR® Alliance of Greater Cincinnati remains optimistic about the market’s potential. It is dedicated to guiding its members and clients through the evolving real estate landscape.

For detailed information on the real estate market in the Greater Cincinnati area, please contact Shawn Maus at 513-842-3011 or [email protected].