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December Market Update
A Look at the Trends Shaping Our Region
As we bid farewell to the year, real estate markets across Dayton, Cincinnati, and Springfield continue to showcase resilience and opportunities, even as the cooler months settle in. November brought varying shifts in home values, sales, and market activity across the region, reflecting the dynamic nature of this time of year.
From increased buyer interest in Cincinnati to longer market times in Dayton, these trends highlight the importance of staying informed about the evolving real estate landscape. Whether you’re preparing to buy, sell, or just stay in the loop, these insights can help you make informed decisions heading into the new year.
Dayton
Sales of single-family and condominium units in Dayton for November showed decreases in both average sales prices and total closings. A total of 1,278 sales were reported, a 3% decrease from the 1,311 sales in October. The average sales price for October was $275,284, a slight decrease of 2% compared to $279,851 last month.
Properties in Dayton spent an average of 67 days on the market, an increase of 3 days from October’s 64 days.
Cincinnati
Cincinnati’s market in November saw a slight increase in average home prices but a decrease in total sales. There were 1,577 sales reported, a decline of 6% compared to 1,681 sales in October. The average sales price rose to $344,444 reflecting an increase of 1.15% from $340,525 last month.
The average days on market for properties in Cincinnati rose to 24 days, 3 days longer than October’s average of 21 days.
Springfield
In Springfield, November brought decreases in both sales and home values but an improvement in market speed. There were 388 sales reported, an 11% drop compared to 438 sales in October. The average sales price for November was $245,189, a 3% decrease from $252,031 last month.
Properties in Springfield spent an average of 65 days on the market, a 7-day improvement compared to 72 days in October.
As the seasons change, so do the dynamics of the real estate market. Whether you’re looking to buy or sell, staying informed on these trends is essential for making the right decisions in today’s landscape. Coldwell Banker Heritage is here to guide you through each step, offering insights and expertise to help you navigate the evolving market with confidence.
