Home Values in Cincinnati: A 2024 Guide for Sellers
Wondering how much your home is worth in today’s Cincinnati market? Whether you’re considering selling in the next few months, aiming to drop PMI, or just curious about current home values in your neighborhood, understanding your home’s worth is key to making informed decisions about your next steps.
In this article, we’ll explore home price trends in Cincy, share tips on getting an accurate home value estimate, and outline practical strategies to enhance your home’s value. We’ll also introduce tools to help you secure the best price when it’s time to sell your Cincinnati home.
Editor’s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.
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:
Year
Median home price
Percent change year-over-year
2024 (June)
$310,000
6.2%
2023
$300,000
5.8%
2022
$332,377
10.6%
2021
$300,887
18.4%
2020
$253,686
3.3%
Source: Realtor Alliance of Greater Cincinnati, Ohio REALTORS
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:
City
Median home price
Distance from Cincinnati
Mariemont
$570,000
16-19 min (10.0 miles)
Wyoming
$500,000
17-20 min (12.9 miles)
Madeira
$638,300
15-18 min (11.8 miles)
Terrace Park
$711,300
25-27 min (15.6 miles)
Montgomery
$623,900
17-19 min (14.2 miles)
Blue Ash
$527,500
17-20 min (14.4 miles)
Home value averages of multiple public transaction sites
Typical travel times 8 a.m. midweek
In the next section, we’ll guide you through several available options for estimating how much your Cincinnati-area home is worth.
