Home Prices and Sales
- Price Appreciation: The average home value in Ohio has increased by about 6.1% over the past year, reflecting a steady rise in property values.
- Sales Activity: Home sales have seen a slight uptick, with more transactions closing compared to the previous year.
- Time on Market: Homes in Ohio are selling relatively quickly, with many properties going under contract in just over two weeks.
- Inventory Levels: The number of homes for sale has increased, giving buyers more options while still maintaining a competitive market.
- Cleveland: Homes are selling faster than the national average, with properties spending just over a month on the market before being sold.
- Dayton: Recognized as a top market for real estate investors, Dayton offers affordable housing options with increasing demand.
Ohio remains one of the more affordable housing markets in the country despite rising prices. However, the cost gap between new and existing homes is growing, particularly in Central Ohio, where new construction is significantly more expensive than older homes.
Overall, Ohio's real estate market remains strong, with rising home values, increased sales activity, and relatively quick sales. While affordability is a growing concern in some areas, the market continues to present opportunities for buyers, sellers, and investors.