March 2023 Home Sales Report
“We need more listings to stabilize this market”
April 14, 2023 – Hamilton, Butler, and Warren Counties’ home sales were up 3.3% from a year ago, and up 3.0% from February 2023.
“New listings are down 19 percent from this time last year. True to the theory of supply and demand, prices have increased. We are still in what we call a “seller’s market,” with the median home price up three percent to $258,500,” said Anne Uchtman, president of the REALTOR® Alliance of Greater Cincinnati. “It is undoubtedly an excellent time to sell, but this makes it a very difficult market for buyers. Especially in price points under the $350,000 mark, we continue to see sometimes 20 offers on a single property with bids well over asking price. This will likely continue for the next several months. We need more listings to stabilize this market.”
Other highlights include:
- Active inventory was 1,315 which is up 10.2% from February 2023 and is up 33.5% from a year ago.
- Units sold are 1504 for March, up 45.2% compared to 24.8% in February, but down 15.2% from the same month the prior year.
- Median sales price was $258,500 in March 2023 is up 2.3% from February.
- Median days on the market is 3, up 50.0% from March 2022, but down 25.0% from February 2023.
- New listings were 1,860 for 43.5% increase from February 2023, but down 19.3% from March 2022.
To view more market statistics, REALTOR® Alliance of Greater Cincinnati has provided the following images to allow members of the public to view several market performance metrics, such as units sold, closed prices, number of listings, and more.
