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October Market Update
A Look at the Trends Shaping Our Region
As October 2024 settles in, the real estate markets across Dayton, Cincinnati, and Springfield are experiencing noticeable shifts. With cooler weather and changing buyer behavior, this month we focus on the evolving trends that are shaping the fall season. A mix of increasing home values in some areas and slight declines in others, coupled with fewer total closings, points to a dynamic market across the region.
While total closings have dipped slightly from August, average home values in Cincinnati and Springfield continue to rise, showcasing ongoing buyer interest. The resilience of the market is still evident, providing opportunities for both buyers and sellers as we enter the last quarter of the year.
Whether you’re considering buying or selling, staying informed on these regional trends is essential for making smart decisions in today’s market. Coldwell Banker Heritage is here to guide you every step of the way, helping you navigate this changing landscape with confidence.
Dayton
Sales of single-family and condominium units in Dayton for September showed a decline in both prices and total sales. There were 1,232 sales, reflecting a decrease compared to 1,424 sales in August. The average sales price for September was $274,715, down from $289,706 in the previous month. The average days on market for properties in Dayton dropped slightly, from 61 days to 59 days.
Cincinnati
In Cincinnati, the market saw an increase in average home prices but a decrease in total sales. September saw 1,630 sales, down from 1,856 in August. The average sales price for September rose to $355,216, up from $345,946 in the previous month. Properties in Cincinnati stayed on the market for an average of 20 days, an increase of 3 days compared to 17 days in August.
Springfield
Springfield saw an increase in home values but a decrease in total sales for September. There were 390 sales, down from 444 in August. The average sales price for September rose to $256,910, up from $240,465 in the previous month. Properties in Springfield spent an average of 64 days on the market, down from 66 days in August.
