August 14, 2023 – Hamilton, Butler, Clermont, and Warren Counties’ home sales price was up 7.4% to $289,500 from June 2023.
Compared to last year, sales are down 17.9% with 1,652 closed sales in July 2023 (a 10.9% decrease from June 2023).
“While the number of sales has gone down year-to-date, home prices are still up, making it a great seller’s market,” said Anne Uchtman, president, the Realtor Alliance of Greater Cincinnati. “We do tend to see what we REALTORS refer to as a ‘summer slump’ in late July/August where the market sort of halts. Once kids are back in school, it usually picks up a bit. Hopefully, we will see more on the market here in the coming month.”
“Overall, July 2023 has revealed a resilient market. Supply is low, demand is high, and therefore prices are still high,” said Uchtman. “As we have been hearing for months now, it is a difficult market for buyers. In July, we had just over 1800 new listings, which is a decrease of 21% over this time last year, so it just continues to be extremely challenging for those looking to buy.”
“Overall, the numbers sway, but the feel of the market remains consistent.”
The days on the market have remained unchanged at 3 days. It was the same as last month and the same as a year ago.
New listings are down 21.0% in July at 1,852 compared to 15.1% in June 2023, but comparable to last year.
Active inventory is down 6.8% in July at 1,573 compared to 3.1% in June 2023.
The market is still unbalanced with 1.0 months of supply.
REALTOR® Alliance of Greater Cincinnati has provided the following graphics to allow members of the public to view several market performance metrics, such as units sold, closed prices, number of listings, and more. If you need more information, please contact Shawn Maus, Director of Communications and Marketing at [email protected].
