The Cincinnati, OH metro area housing market in February 2025 presents a complex scenario characterized by rising prices and declining sales activity. The Median Sales Price has increased to $290,000, marking a 5.1% year-over-year (YoY) rise. Similarly, the Median List Price has reached $299,900, reflecting a 3.8% YoY increase. This upward trend in pricing is further supported by the median Price Per Square Foot, which has risen by 5.5% YoY to $174.84, and the Median List Price per square foot, which has increased by 5.4% YoY to $178.90.

Despite the increase in prices, the market is experiencing a downturn in sales activity. The number of Homes Sold has decreased by 5.6% YoY, totaling 1,582 units. Pending Sales have also declined by 6.5% YoY, with 2,155 transactions currently in the pipeline. New Listings have dropped by 8.2% YoY, amounting to 1,989, indicating a potential tightening of supply in the market.

Interestingly, the inventory has surged by 32.7% YoY, reaching 4,341 homes. This increase in inventory, coupled with a 70.0% YoY rise in Months of Supply to 2.70 months, suggests that while there are more homes available, they are taking longer to sell. The Median Days on Market have increased by 27.0% YoY to 49 days, further indicating a slowdown in the pace of sales.

The average sale to list ratio has slightly decreased by 0.5% YoY to 98.1%, suggesting that homes are selling closer to their list prices. However, the percentage of Homes Sold above list price has dropped by 3.8% YoY to 25.5%, and the rate of Price Drops has decreased by 4.9% YoY to 20.7%. Additionally, the percentage of homes going off the market within two weeks has declined by 2.2% YoY to 51.2%, indicating a slower turnover rate.

Overall, the Cincinnati housing market is experiencing rising prices amidst a backdrop of declining sales and increased inventory. This dynamic may present opportunities for buyers to negotiate better deals, while sellers may need to adjust their pricing strategies to align with the current market conditions.