Last week's update walked through rates settling just below the 7 percent mark. This week the story has two parts: rates are holding that line, with a few trackers even ticking a touch lower, and the August market report card has landed, giving us the clearest picture yet of what the Fed's September 16 hike left behind. Let's go through the numbers, with sources, and then get practical.
Rates Are Holding Near 7 Percent for a Second Week
The headline rate surveys agree: we are in a high-6 to low-7 percent world for a 30-year fixed, and it has been stable for the past two weeks. Freddie Mac's Primary Mortgage Market Survey averaged 6.95% for the week ending September 17, up from 6.76% the week before and from about 6.35% a year ago; its next survey was scheduled for release Thursday, September 24. You can follow the series at Freddie Mac's PMMS page.
Daily trackers cluster in the same band. Forbes Advisor, using Mortgage Research Center data, cited 7.05% on September 23, down slightly from 7.08% a week earlier, its first small pullback in weeks. Money.com reported 6.94% on September 21 and 6.96% on September 23, while MortgageDaily (Optimal Blue) showed a 7.01% note rate on September 21. APR-based quotes run a bit higher: NerdWallet listed a 7.12% APR on September 24.
The practical takeaway: budget for a rate in the high 6s to low 7s and expect lenders to quote differently for the same borrower. The Fed's September 16 rate hike is now fully reflected in mortgage pricing, and the next decision comes at the October 27-28 meeting, so do not expect the rate story to change dramatically before then. What can change is your deal: comparing three lender quotes and asking about buydowns is where real savings live right now.
The August Local Report Card Just Landed
The REALTOR Alliance of Greater Cincinnati's August report, the standard local benchmark covering Butler, Clermont, Clinton, Hamilton, and Warren counties, shows a median sold price of $329,000, up 4.5% year over year, with 1,741 homes sold, up 1.9%, and a year-to-date median of $322,161, up 4.9%. The numbers are published at cincyrealtoralliance.com, and a useful county-by-county read of the same data ran on Sibcy Cline's Four Counties, Four Markets review.
The county lens matters for our communities. Redfin's Warren County data put the median sale price around $414,000, up about 7% year over year, which is the pricing band for most of Maineville, Morrow, South Lebanon, and Landen, along with parts of Loveland. Clermont County, home to Goshen, showed a median around $339,000 over the three months ending in August, up 5.8%, with homes averaging about 44 days on market. Hamilton County, where southwestern Loveland sits, showed a median around $270,000, up 3.4%.
On pace, the St. Louis Fed's days-on-market series for the Cincinnati metro shows a median of 42 days in August, up from 40 in July and 37 in June, tracked at FRED. Redfin's Cincinnati city page shows a similar rhythm: roughly 49 days on market over the last three months and a market it rates "somewhat competitive." In plain English: homes are selling steadily, but nobody has to decide in an hour anymore.
The Most Choices in More Than a Decade
Some of this is national. The National Association of Realtors reported August existing-home sales at a 3.98 million annual pace, the first month below 4 million this cycle, with inventory equal to a 4.9-month supply, the highest in more than a decade. Locally, the pattern shows up in listings: the metro's active inventory has been running roughly 9.5 percent above last year, per the mid-year review covered by WHIO, which also noted about 2.8 months of supply across the region.
More supply and a calmer pace are precisely why this fall feels different from the last few. Buyers are touring more homes, getting inspections without drama, and negotiating on terms. That is a healthy market, not a slow one.
What It Looks Like in Maineville, Loveland, and the Towns You Asked About
Community-level data is thinner than county data, but the pieces we have line up with the metro story. In Maineville, Redfin put the three-month median sale price around $367,000, up about 12.6% year over year, and rated the market "somewhat competitive." In Loveland, the same source rates the market "very competitive," with an average price near $445,000, about three offers per home, and roughly 41 days on market, while Zillow pegged Loveland's average home value around $455,000, up about 3.3% year over year.
A word of caution, because I want you to have honest expectations: these averages blend different home types and time frames, so they are directional, not gospel. The right way to value a specific home is a fresh comparative market analysis of the street and subdivision, which I am happy to pull for you. The big-picture takeaway holds across our counties: prices are still climbing at a calmer pace, and buyers finally have leverage they have not had in years.
What I'd Tell Buyers This Week
- Compare at least three lender quotes. With rates parked near 7%, one quarter of a point shifts your payment by hundreds of dollars a year, and the trackers above show how much lenders can differ on the same day.
- Ask about rate buydowns and seller credits. In a market with more inventory, seller-paid closing costs or a temporary 2-1 buydown can meaningfully soften your first years at a 7% payment. It is a normal conversation now, so have it.
- Use the extra inventory for diligence, not delay. You can be choosier about condition and disclosures, and inspections are less of a blood sport than they were a few years ago. But the best homes in the best school districts still draw multiple offers, so move when the right one shows up.
- Fresh fall listings are arriving now. September through October is one of the year's best buying windows, with motivated sellers who listed after summer. Your must-see list is longer today than it was in July, and that is a good thing.
What I'd Tell Sellers This Week
- Price for today's payment, not last spring's. Buyers are qualifying at rates near 7%, and that changes what they can afford. A list price built on current comps is what gets your home seen in the first place.
- Be ready to talk concessions. Closing-cost help and rate buydown contributions are becoming standard tools for getting deals done. Sellers who stay flexible on terms are closing, often inside the 42-day metro average.
- Competition is real, so present well. With the most choices in over a decade, buyers are comparing your home against more options. Curb appeal with seasonal touches, clean gutters, and warm interior light all earn their keep in October showings.
- List before the holidays. The buyer pool is strongest from now through mid-November. Homes listed in that window get the most showings before the market naturally slows for Thanksgiving and December.
The Bottom Line
Here is the honest read: rates are high and steady near 7%, prices are still climbing at a modest clip, and inventory is the healthiest it has been in more than a decade. That combination is genuinely workable for both sides, buyers get choices and room to negotiate, and sellers who price and present well are still selling on a normal timeline. If you would like to run your numbers at today's rates, or see what your home is worth in this market, I would love to sit down with you, no obligation.
You can catch up on last week's market update here, or my ground rules for structuring a competitive offer when the right home comes along. And as always, watch the community events page for what is happening around the area this fall. Love where you live.
Marti Lawson
Realtor at eXp Realty · Cincinnati Area
OH License #2021002844