Ohio’s real estate market continues to exhibit steady growth, characterized by rising home values and increasing inventory. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Average Home Value: $238,110, marking a 4.7% increase over the past year.
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Median Sale Price: $253,600 in April 2025, up 5.9% year-over-year.
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Inventory Levels: The number of homes for sale rose by 14.9% compared to the previous year, indicating a shift towards a more balanced market.
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Days on Market: Homes are spending an average of 37 days on the market, a slight increase from the previous year.
🌆 Regional Highlights
Cleveland
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Price Growth: Experiencing the most significant increase among Ohio cities, with an 8.2% year-over-year rise as of February 2025.
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Market Competitiveness: Ranked No. 12 in Zillow’s list of hottest markets for 2025, down from No. 3 in 2024, indicating a slight cooling in competition.
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Inventory Growth: Central Ohio’s housing inventory increased by 21% year-over-year in November 2024, suggesting easing competition.
Toledo
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Affordability: Emerging as a top housing market with an average home price of $235,000—nearly $200,000 below the national median.
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Price Appreciation: Experienced a 17.5% year-over-year price increase, with homes selling quickly, averaging just 37 days on the market.
Dayton
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Investment Appeal: Identified as the top real estate market for investors in the U.S., due to its affordable housing, increasing demand, and low rental vacancy rates.
🔮 Market Outlook
Ohio’s housing market is expected to maintain its steady growth trajectory through the remainder of 2025. The combination of rising home values and increasing inventory suggests continued competition among buyers, particularly in urban centers like Cleveland and Columbus. However, the market remains relatively affordable compared to national averages, making it attractive for both first-time homebuyers and investors.