Cincinnati, OH 45223 Real Estate Market Report

ZIP Code: 45223
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the real estate market in Cincinnati, OH (ZIP: 45223) is characterized by a median sold price of $278,950, reflecting a stable market environment. This price indicates a modest appreciation trend, aligning with the overall year-over-year price trend that is reported as up. The neighborhood has shown resilience, with the local economy supporting housing stability despite the rising inventory levels.

Transaction activity appears moderate, with elevated inventory levels suggesting a shift towards a more balanced market. The median days on market stands at 247 days, indicating a slower sales velocity, which may suggest that buyers are gaining more negotiating power in this environment. Overall, while prices are still appreciating, the market is transitioning towards a neutral balance, allowing for more favorable conditions for buyers in certain segments.

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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.

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Market Metrics

Note: 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.

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Rental Market

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Property Taxes

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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.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in the Cincinnati market around 5.875% to 6.05% are notably lower than the 6.66% average seen in 2025, presenting a cost opportunity for recent refinancers.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $278,950 indicates a stable market, reflecting modest appreciation in property values.

2. With 247 days on market, the sales velocity is slower, suggesting moderate transaction activity and potential pricing friction.

3. The median listing price of $244,900 shows a gap between asking prices and sold prices, indicating that sellers may need to adjust expectations to align with market realities.

4. The market temperature is currently neutral, suggesting a balanced environment where neither buyers nor sellers hold a distinct advantage.

5. The median market rent of $1,464 is also on the rise, contributing to the overall stability of the housing market in the area.

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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.