Cincinnati, OH 45223 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Key Findings

1. The primary market value indicator is the 259,000 median sold price, which reflects realized transaction levels and anchors pricing expectations for SFR and condominium properties in ZIP 45223; with the price year-over-year trend marked as up, recent sales show modest appreciation.
2. There is a notable spread between the 214,000 median listing price and the 259,000 median sold price, which may indicate pricing friction and selective acceptance of higher offers on completed transactions rather than broad market chasing of list prices.
3. Market liquidity appears slower given the 300 median days on market, which suggests reduced sales velocity and that sellers may need more time to reach contract versus faster-market norms; this should be considered when timing listings or underwriting hold periods.
4. Local market context shows a 170 median price per square foot and a 1,095 median market rent, while market temperature is characterized as neutral and rent year-over-year trend is up; be cautious that elevated interest rate pressure could limit buyer affordability despite upward price and rent trends.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.