Real Estate Market Shows Resilience Amidst Challenges: December 2023 Report by the REALTOR Alliance of Greater Cincinnati

FOR IMMEDIATE RELEASE

Cincinnati, OH – January 16, 2024

The REALTOR® Alliance of Greater Cincinnati has released its December 2023 Home Sales Market Statistics, offering a comprehensive look at the real estate trends in Hamilton, Butler, Clermont, and Warren counties. Despite facing a mix of challenges and growth, the market demonstrates resilience and potential opportunities for buyers and sellers alike.

Key Highlights:

Median Sales Price: December witnessed a median sales price of $265,000, marking a 1.9% increase from the prior year’s $260,000. The current year-to-date figure stands at $279,000.
Units Sold: Sales volume showed a decrease, with 1,082 units sold, down 21.3% from November 2023. The year-to-date sales reached 16,406, contrasting with 21,373 from the previous year.
Total Sold Volume: December’s total sold volume was $352,122,844, a decrease of 15.9% from November 2023. The year-to-date total reached $5,511,281,058, down from the prior year’s $6,678,330,486.
Active Inventory: Active inventory increased to 1,644, up 7.2% from the same month last year.
Median Days on Market: Homes spent a median of 13 days on the market, a 44.4% increase from the previous year.
New Listings: There were 912 new listings, down 12.9% from the same month last year.

Tracy Dunne, President of the REALTOR Alliance of Greater Cincinnati Board of Directors, comments, “The December statistics reflect a market that is recalibrating. While we see a dip in units sold and total volume, the increase in median sales price indicates a sustained value in our local real estate. The rise in active inventory provides more options for buyers, and the market remains dynamic. We’re observing trends closely to ensure our members are well-equipped to navigate these changes and provide the best possible service to our clients. It’s a market that requires adaptability and expertise, which our REALTORS® are exceptionally qualified to provide.”

The REALTOR® Alliance of Greater Cincinnati continues to monitor market trends and provide its members with the resources and insights needed to thrive in a changing real estate landscape. The alliance remains committed to supporting the local community in making informed real estate decisions.

For more detailed information, see below, or to arrange an interview with Tracy Dunne or another representative of the REALTOR® Alliance of Greater Cincinnati, please contact Shawn Maus, Director of Marketing and Communications, at 513-842-3011 or by email at [email protected].

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 get in touch with Shawn Maus, Director of Communications and Marketing, at [email protected].

HAMILTON, BUTLER, CLERMONT, WARREN COUNTIES

HAMILTON COUNTY

BUTLER COUNTY

CLERMONT COUNTY

WARREN COUNTY

ALL 61 OHIO COUNTIES