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As August brings warm and sunny days, the Cincinnati real estate market remains vibrant with new opportunities. This month, we’re closely monitoring the evolving trends in the 2024 real estate landscape, building on the positive momentum we’ve seen earlier this year. Familiar market patterns are starting to reappear, fueling renewed optimism among property buyers and investors.
In July, there were notable shifts in market activity and pricing. While the number of sales for single-family homes and condominiums saw a slight dip, the market remained strong with a total of 1,975 sales—an 8% increase from June’s 1,831 sales. The average sales price also saw a modest rise, reaching $367,240 in July, up 2% from June’s average of $361,264.
Despite these fluctuations, the market continues to show resilience and dynamism. The average days on market for Cincinnati properties in July was 14 days, just a day shorter than June’s average of 15 days. This slight decrease suggests a steady pace in property turnover, highlighting ongoing interest and activity in the market.
As we move forward, it’s essential for buyers and sellers to stay updated on these trends. Whether you’re planning to buy, sell, or invest, staying informed about current market conditions will help you make smarter decisions.
