Current home values in Cincinnati

According to Ohio Realtors, in June 2020, the typical Cincinnati home sold for $253,686. As of June 2024, the Realtor Alliance of Greater Cincinnati reports that the median sale price is $310,000. This marks a housing price increase of 22.2% in the Cincinnati metro area since the start of the decade.

The current Cincinnati real estate market is characterized by continual increases in inventory, closed sales, and median sales prices. Inventory still remains relatively low at 2.1 months, keeping the market in favor of sellers.

“These numbers reflect a resilient and balanced market. The real estate market in our region continues to display economic strength, offering opportunities for both buyers and sellers,” said Tracy Dunne, President of the Realtor Alliance of Greater Cincinnati, in a recent release.

“The increase in inventory is a crucial factor for maintaining balance in the market,” she added. “It helps to ensure buyers have options while sellers continue to benefit from rising home values.”

The table below illustrates the rise in home prices in the Cincinnati region over the last five years:

This upward trend isn’t limited to just Cincy; it’s become a nationwide phenomenon. According to the S&P CoreLogic Case-Shiller National Home Price Index, U.S. home prices have climbed over 50% since the beginning of 2020.

This significant increase has allowed homeowners across the country to acquire a substantial amount of equity in their properties, which can in turn be used debt repayments, new investments, retirement savings, or other financial goals. As of early 2024, ICE’s Mortgage Monitor reported that the average mortgage-holding homeowner in the U.S. now has approximately $299,000 in equity.

For comparison, the table below shows median home prices in suburbs near Cincinnati:

In the next section, we’ll guide you through several available options for estimating how much your Cincinnati-area home is worth.