Cincinnati, OH 45238 Real Estate Market Report

ZIP Code: 45238
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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.

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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 45238 area are averaging approximately 6.34%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.

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 neighborhood's representative recent sale level is the median sold price of 209,950, which anchors market value and suggests realized transaction prices are materially below asking levels in some cases; use sold prices for valuation.

2. There is a notable gap between the median listing price of 269,950 and the median sold price of 209,950, which may indicate pricing friction or seller expectations exceeding recent transaction outcomes; caution on list-to-sale spread.

3. Median days on market at 214 points to slower sales velocity and reduced liquidity relative to fast-turning markets, which may require longer marketing time or pricing concessions to achieve sale; slower transaction pace.

4. Market context shows price year-over-year trend is up and rent year-over-year trend is up, but interest rate pressure is elevated, so affordability headwinds from rates may moderate buyer activity even as realized prices and rents rise.

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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.

Cincinnati, OH 45238 Real Estate Market Report

ZIP Code: 45238
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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.

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Property Taxes

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Liquidity & Velocity

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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 45238 area are averaging approximately 6.34%, reflecting a stable market environment for property owners compared to earlier 2026 benchmarks.

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 neighborhood's median sold price is 209,900, which serves as the primary indicator of recent market value and, together with the price year-over-year trend being up, points to moderate appreciation pressure in completed transactions.

2. The median days on market is 258, which suggests slower sales velocity and potential pricing friction; this longer time-to-sale may indicate buyers are taking more time to transact despite upward price trends.

3. The median price per square foot is 167 while the median market rent is 1,000, and the rent year-over-year trend is up; this combination suggests improving rental market fundamentals that may support investor interest without guaranteeing immediate resale liquidity.

4. Interest rate conditions remain a headwind: interest rate pressure is elevated and current 30-year fixed mortgage rates are averaging approximately 6.34%, which may constrain affordability and moderate buyer demand even as the market temperature is described as neutral.

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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.