Home Values in Cincinnati: A 2024 Guide for Sellers

How to get a home value estimate

If you’re curious to know your Cincinnati home’s value — whether to calculate potential proceeds or set an appropriate list price — there are multiple tools available to help you determine it, ranging from DIY to professional.

Use an online home value estimator

One of the simplest ways to get a ballpark figure for your home is to use an online home value estimator like HomeLight’s. These tools typically work by gathering data from public sources, like county auditor and tax assessor records, recent sales listed on MLS, and user-submitted data, to generate a rough estimate. HomeLight’s free tool, however, offers a step up from other online estimators by asking seven tailored questions about your home to provide a more refined value and give you a clearer picture of your property’s worth. You can receive a preliminary estimate in under two minutes, providing a helpful starting point as you plan your next steps.

Request a comparative market analysis

While an online value estimator is a good starting point, a more precise valuation can be achieved for your Cincinnati home by requesting a comparative market analysis (CMA) from a local real estate agent. A CMA compares your property with similar homes (known as “comps”) that have recently sold in your area, taking into account factors like the number of bedrooms and bathrooms, overall square footage, home age, location, recent upgrades, and any other relevant information.

These analyses usually include detailed charts, graphs, and photos, giving you a comprehensive look into your home’s worth and how it stacks up against others in your neighborhood. Many agents offer a CMA for free, especially if you plan to list with them. If you’re not already working with an agent, getting a CMA can be an invaluable step in understanding your home’s worth and making sure your list price matches market value.

Get a pre-listing appraisal

While a CMA from a top agent usually provides a solid estimate of your home’s value, certain situations might call for a pre-listing appraisal. This professional evaluation can be particularly helpful if your home has unique features that are hard to compare, is in a rural area with few nearby sales, or sits on a large acreage. During a professional appraisal, a licensed professional will visit your property to evaluate specific features, such as the home’s foundation, interior and exterior, amenities, and structure. This thorough assessment will ensure that you don’t over- or under-price your home when it comes time to list.

Typically, a pre-listing appraisal costs between $450 and $550, though prices can climb higher for more complex properties, such as luxury homes with custom features or large farms. Keep in mind that if the buyer is financing the purchase, their lender will also require an appraisal to determine the loan amount they are willing to provide.

How to increase the value of your Cincinnati home

If you’re looking to boost your Cincinnati home’s value before selling, there are a few strategic updates that can have a big impact on your sale price. We’ll provide a brief overview below.

Curb appeal: Enhancing your home’s curb appeal should be a top priority for sellers. According to the National Association of Realtors, 92% of realtors recommend improving curb appeal before listing to attract buyers. Simple, low-budget tasks like mowing the lawn, adding fresh mulch, repainting the front door, and power washing the exterior can all make a significant difference.

Strategic updates: To maximize your return on investment, focus on only value-adding home improvements when making upgrades. According to Zonda’s 2024 Cost vs. Value Report, replacing the garage door has an ROI of 194%, making it one of the most cost-effective home improvements. Other smart investments include refinishing floors, repainting the walls in a warm neutral shade, and modernizing hardware, lighting, or faucets in kitchens and bathrooms.

Necessary fixes: Before listing, be sure to inspect all major home systems and address any necessary repairs. This will help avoid any unwanted surprises during the home inspection, from which your buyer may try to negotiate a lower price. It’s a good idea to consult your agent before taking on any costly projects, but in general, it’s safe to assume that fixing problems with your plumbing, HVAC, electrical, or roof are all worthwhile investments.

Decluttering and depersonalizing: Clearing out excess clutter and depersonalizing your home can make it more appealing to buyers, as it provides a clean slate for them to envision living in the space. In fact, one HomeLight survey found that decluttering can increase your home’s sale price by $8,000 or more. Remove excess furniture and piles of “stuff” to make spaces feel larger and more inviting, as well as hide any family photos or religious symbols from view.

Deep cleaning: Don’t underestimate the power of a deep clean in boosting your home’s value. A HomeLight survey of over 1,000 top agents showed that deep cleaning can add an average of $3,700 to your home’s price. Plus, buyers are more willing to overlook minor imperfections when a home is sparkling clean. Focus on areas like dirty carpets, grout, and windows to create a bright, fresh environment. Also, pay special attention to overlooked areas like vents, ceiling fans, or baseboards that could be harboring pesky dust.

Home staging: Effective staging can highlight your home’s best features, especially now that you have a blank canvas to work with. According to HomeLight’s most recent Agent Insights report, professionally staged homes can sell for up to 13% more than unstaged ones, so it’s not a step to gloss over. Even if you don’t get professional help, creating an appealing interior layout can make your home that much more attractive. 67% of agents surveyed agreed that staging is beneficial for home sales, while 31% even reported that staging is “essential” in today’s market.

Unlock Your Equity and Buy Before You Sell

Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency.

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How to buy before you sell in Cincinnati

If you’ve stumbled upon your next dream home in Cincinnati but haven’t sold your current house yet, HomeLight’s Buy Before You Sell (BBYS) program could be the perfect solution.

Here’s how it works: BBYS enables you to unlock a portion of your existing home’s equity to make a competitive, non-contingent offer on a new property. If you qualify, this equity can be unlocked in as little as 24 hours with zero upfront fees or obligations. With this program, you can buy your new home first and sell your old one while it’s vacant, making the transition smoother and avoiding the stress of coordinating multiple moves.

HomeLight charges a flat fee of 2.4% of your current home’s sold price. If the home doesn’t sell within 90 days of closing on your new property, HomeLight will purchase it from you and continue to work on selling it. Any profits, minus any costs incurred by HomeLight, will be returned back to you.

To learn more about HomeLight’s Buy Before You Sell program, check out the video below:

How to find a top agent in Cincinnati

Choosing the right real estate agent is one of the most important factors in maximizing your home’s sale price. HomeLight’s agent matching service makes this process easier by connecting you with top-performing agents in Cincinnati. This free tool takes under two minutes to match you with up to three vetted agents based on their specialties, past sales, and local market expertise. Since agents don’t pay to be featured, you can trust that our recommendations are unbiased and data-driven.

One key metric to consider when evaluating agents is their sale-to-list ratio. This ratio, shown as a percentage, indicates how close a home’s final sale price is to its original listing price. Agents with a high sale-to-list ratio consistently price homes accurately and are skilled in negotiating effectively, achieving top dollar for their clients. Look for a high sale-to-list ratio to feel confident that the agent will help you get the best return on your investment.

Before settling on one agent, it’s wise to interview at least three to make a fully informed decision. During these interviews, you can follow the guideline questions below:

With some basic interviewing skills and HomeLight’s agent match tool, you’ll be well-equipped to select a local real estate pro who can help achieve top dollar for your home sale.

Get a free preliminary home estimate today

Whether you’re planning to sell soon or simply exploring options like securing a home equity loan or refinancing, understanding your Cincinnati home’s value is necessary for making informed decisions about your largest financial asset. With HomeLight’s free home value estimator, you can get an easy ballpark estimate of your home’s worth in under two minutes.

Additionally, HomeLight can connect you with top Cincinnati agents who are proven to sell your home for more money. Or, perhaps you want assistance unlocking your equity to buy a new house before selling your current one. By keeping up with the latest market trends and utilizing these valuable tools, you’ll be well-positioned to maximize your Cincinnati home’s value.

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