Ohio
Housing Market
The landscape of Ohio’s housing market evolves with shifting home prices and demand. Houzeo’s housing market report tracks constant changes in supply and demand across Ohio. Our report offers real-time insights to help you make informed decisions.
Overview
Supply
Demand
Buy or Sell
Market Insights
MigrationOhio Housing Market Overview
Home prices in Ohio show a 7.1% YoY growth as of January 2025. The constant growth in home prices indicates the strength of the housing market. Currently, the median home price in Ohio is $231,600. However, the number of homes sold has decreased by 1.9% YoY.
You can also check the market competitiveness through median days on the market. Homes in Ohio now spend 54 days on the market before going under contract. All these metrics collectively indicate changes in the Ohio housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
You can also check the market competitiveness through median days on the market. Homes in Ohio now spend 54 days on the market before going under contract. All these metrics collectively indicate changes in the Ohio housing market’s pace and affordability.
What Does It Mean for Home Buyers and Sellers?
- If You're a Buyer: The Ohio housing market shows strong price momentum right now. Home values have climbed to a median of $231,600, reflecting a 7.1% increase from last year. Ohio homes now stay on the market for 54 days, which gives you more time to evaluate your options. Careful consideration in this active market will help you secure the right home at the right price.
- If You're a Seller: Your property enters a market with solid price growth. The 7.1% price increase signals strong demand for Ohio houses. However, homes in Ohio are taking longer to sell, averaging 54 days on the market. The decrease in sales volume means less competition, which could benefit you. Despite the slower pace, the market remains stable, which means you could achieve your desired sale price.
Ohio Housing Supply
Ohio’s housing supply is expanding as inventory increases and market conditions evolve. The number of homes in Ohio for sale grew by 10.3% year over year in January 2025, reaching 30,907 homes. The number of newly listed homes decreased slightly by 1.4%, with 8,938 homes listed. Despite this, the 3 months of supply favors sellers; demand remains strong with solid competition.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: More homes for sale in Ohio means more options for you. The increase in inventory gives you a chance to find a property that suits your needs. With 3 months of supply, competition remains high, so act quickly on well-priced homes. Despite rising prices, you may have more time to negotiate compared to other markets. If You're a Seller: Real estate in Ohio continues to see price growth, with a 7.1% YoY increase in the median housing price. The 3-month supply period is in your favor, an indicator of strong demand. Higher inventory means more competition, so it’s essential to price your home correctly to attract serious buyers.
What Does It Mean for Home Buyers and Sellers?
Ohio Housing Demand
The percentage of Ohio homes selling above the list price is an important measure of housing demand. In January 2025, 23.4% of homes sold above the asking price, showing solid buyer competition. However, this figure is down by 2 points from the previous year, which points to a slight easing of demand.
Meanwhile, 26.6% of homes saw price drops, down from 29% last year. The 97.4% sale-to-list ratio, a slight decrease from last year, indicates that while sellers are still receiving competitive offers, buyers have slightly more negotiating power. This trend reflects a balanced but still competitive market.
What Does It Mean for Home Buyers and Sellers?
If You're a Buyer: In January 2025, 23.4% of homes in Ohio sold above list price, indicating high competition. However, 26.6% of homes had price drops, which signals opportunities to negotiate a good deal. The slight decrease in sale-to-list price ratio means you may have more room to find favorable terms in Ohio's market. If You're a Seller: The Ohio housing market shows a 97.4% sale-to-list price ratio. This means that while homes are still selling close to their list prices, the decrease in sales above list price suggests less urgency from buyers. Adjust your price strategy to meet market expectations, attract potential buyers, and reduce the chance of price drops.
Meanwhile, 26.6% of homes saw price drops, down from 29% last year. The 97.4% sale-to-list ratio, a slight decrease from last year, indicates that while sellers are still receiving competitive offers, buyers have slightly more negotiating power. This trend reflects a balanced but still competitive market.
What Does It Mean for Home Buyers and Sellers?
Is it a Buyer’s or Seller’s Market in Ohio?
Strong
Buyer
Buyer
Balanced
Seller
Strong
Seller
Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Is it a Buyer’s or Seller’s Market in Ohio?
The 7.1% price increase in Ohio points to continued demand, but several factors suggest a shift toward a buyer's market. While home prices are rising, the number of homes sold is down 1.9% year over year, which points to slowing demand. Furthermore, the 54 days on market, up by 12 days YoY, means that Ohio homes are taking longer to sell. This gives buyers more time for decision-making.
The 10.3% increase in housing supply suggests more homes are available on the market, which tilts the scale towards buyers. Additionally, the 26.6% of homes with price drops and a 97.4% sale-to-list price ratio (down from last year) point to a cooling market where sellers may need to adjust their prices. While 23.4% of homes are selling above list price, the drop from last year and the increase in price reductions suggest that buyers have more negotiating power in the current Ohio market.
Ohio Housing Market Insights
The Ohio housing market is more favorable for buyers compared to the national market. Home prices rose 7.1% year over year, with Ohio's median price at $231,600 — much lower than the national median of $418,478. Ohio's inventory has grown, with 30,907 homes listed for sale, a 10.3% increase from last year. Homes now stay on the market for an average of 54 days, up 12 days from last year. This gives buyers more inventory options and opportunities to negotiate.
Despite this, Ohio also has characteristics of a seller’s market. The 3-month supply period indicates steady demand and competition. 23.4% of homes sell above list price, though this number is down slightly from last year. Fewer homes experienced price drops than this time last year, indicating that sellers remain confident in their asking prices.
Overall, Ohio’s market is a balanced one. Increased inventory and longer selling times present opportunities for buyers. Even though competition persists, the decline in homes selling above list price and price drops indicate that buyers have more space to negotiate. If you’re buying a house in Ohio, consider market trends and plan for additional costs, such as closing fees and home inspections.
Despite this, Ohio also has characteristics of a seller’s market. The 3-month supply period indicates steady demand and competition. 23.4% of homes sell above list price, though this number is down slightly from last year. Fewer homes experienced price drops than this time last year, indicating that sellers remain confident in their asking prices.
Overall, Ohio’s market is a balanced one. Increased inventory and longer selling times present opportunities for buyers. Even though competition persists, the decline in homes selling above list price and price drops indicate that buyers have more space to negotiate. If you’re buying a house in Ohio, consider market trends and plan for additional costs, such as closing fees and home inspections.
Nationwide Migration Trends
Ohio saw significant inbound migration during the winter 2024-2025 peak moving season. Over 1,800 residents searched for homes within Ohio from Nov '24 to Jan '25. New homebuyers are flocking to Ohio from states like New York, California, and Illinois. The state’s affordable cost of living, growing job opportunities, and family-friendly communities attract a diverse range of newcomers. Cities like Columbus, Cleveland, and Cincinnati welcome the most new residents.
This migration trend aligns with broader cost of living shifts. Ohio’s cost of living is approximately 6% lower than the national average, making it an attractive destination for those seeking affordability. Ohio’s housing market continues to benefit from these shifts, with increasing demand across the state.
This migration trend aligns with broader cost of living shifts. Ohio’s cost of living is approximately 6% lower than the national average, making it an attractive destination for those seeking affordability. Ohio’s housing market continues to benefit from these shifts, with increasing demand across the state.
Frequently Asked Questions
How is the housing market in Ohio?
The Ohio housing market is currently showing growth in home prices and inventory. Prices rose 7.1% YoY in January 2025, to a median home price of $231,600. However, sales declined by 1.9%, indicating a slight slowdown. The number of homes for sale increased by 10.3%, which means more options for buyers. Homes now spend an average of 54 days on the market.
What are the cheapest cities in Ohio?
If you're moving from more expensive states like New York or California, you will pay significantly less to rent or buy homes in Ohio. Cities like Youngstown ($105k) and Toledo ($112k) are among the cheapest places to live in Ohio.
Should I wait for some time before buying a house in Ohio?
As a buyer, you can benefit from the growing inventory in Ohio.The number of homes for sale has risen by 10.3%, which means more options for you. If you're buying a house in Ohio, consider getting a mortgage pre-approval and budgeting for a down payment of up to 10%.
How can I list my home for sale in Ohio?
You can list your home for sale with a Flat Fee MLS Ohio listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location. 🚀
What is the average cost of living in Ohio?
The cost of living in Ohio is 94, approximately 6% lower than the national average. Housing costs are especially affordable, with a median home price around $231,600. Overall, Ohio offers a cost-effective living environment, particularly when it comes to housing and utilities. You can find out more with our free Ohio cost of living calculator.
How does the housing market in Ohio compare to the national market?
Ohio’s housing market is performing well, outpacing the national market when it comes to price growth. The state’s median home price, 44.6% lower than the national median, is attractive to home buyers. There is also high demand due to relocation from other states and Ohio’s low cost of living.
Is now a good time to sell or buy homes in Ohio?
It depends on the current trends in housing prices and inventory in your area. Sellers can benefit from rising home prices and reduced months of supply. However, if mortgage rates are stable with more than 6 months of supply, it's the best time to buy a house in Ohio.
What is the average mortgage rate for buyers in Ohio?
The average mortgage rate for buyers in the Ohio real estate market fluctuates between 6.75% and 7.19%. Before applying for a mortgage, be sure to check your credit score and review the current mortgage rates with lenders.
When will house prices drop in Ohio?
As per Ohio housing market predictions for 2025, it’s unlikely that house prices will drop in the near future. In fact, home prices in Ohio are expected to continue rising, supported by steady demand and growing inventory.
What are the Ohio housing market predictions for 2025?
The Ohio housing market is expected to remain stable through 2025. The market will likely shift between buyer and seller control throughout the year. Sellers may see stronger demand and higher prices during peak seasons. Buyers may benefit from increased inventory and more negotiating power in the first quarter and fall months when supply rises.
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