Our June 2022 Housing Market Update — The Lowry Team - eXp Realty

Real Estate Market Update

June 10, 2022

The latest trends and observations about our local real estate market.

There’s lots of news and noise in the media about what’s happening in our market. However, what’s really happening in our area? Today I want to update you on our local real estate market and give you an idea of what you should expect if you are buying or selling.

First, let’s talk about sales. Total closed sales for the first four months of 2022 are down. They’re only down about 7% to 8% compared to 2021, but I don’t think this should be a shock. Last year set an all-time record for home sales; we were never going to top that this year.

When you compare these sales to 2020 and 2019, they’re all about neck and neck. They were all great years in real estate sales.

What about home prices? Homeowners are probably loving this run of appreciation. If you’re a buyer, you may not be enjoying it yet, but you will once you purchase a home. Home prices over the first four months of 2022 increased by about 8% to 13% compared to last year. They’re still continuing to rise, and no one thinks that they will calm down much this year. We’re likely to see prices continue appreciating at this rate in the coming years.

Contact The Lowry Team today! Call or text 513-586-6900

“If someone talks about our market like they definitely know what will happen, stop listening.”

The days on market haven’t changed much this past year. Homes were selling quickly last year, and they still are now. The median days on market is around 2 days in our area. Nice homes that are priced correctly are selling very quickly. That’s not news, and this trend will probably continue throughout the year.

The last thing to note is that we are starting to see a few more new listings. There’s one big question about this increase in inventory: Is this the normal seasonal spring increase, or is it a larger trend? We won’t know for sure until we see it play out. However, there is good news. If you’re looking to buy, these additional listings are making it slightly easier to get your offer accepted.

My last piece of advice is that if someone talks about our market like they definitely know what will happen, stop listening. None of us know for sure, but we can watch the numbers in real-time and advise our clients.

If you have any questions about these trends or want to know what your home may sell for in this market, please call or email my team or me. We’re happy to help, and there’s never any obligation.

Ohio New Real Estate Listings


HOME VALUES		MAP SEARCHES		CONTACT US
JUST LISTED		UNDER $100,000		UNDER $200,000
UNDER $300,000		UNDER $400,000		LUXURY HOMES

new listing HOMES for sale

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