OH Real Estate - Ohio Homes For Sale | Zillow (2024)

FAQs

Are real estate prices dropping in Ohio? ›

Ohio Housing Market Overview

In June 2024, home prices in Ohio were up 5.7% compared to last year, selling for a median price. On average, the number of homes sold was down 11.1% year over year and there were 11,642 homes sold in June this year, down 13,102 homes sold in June last year.

Typical home price in Ohio: $235,560 (65% of typical U.S. price)

Buying a home in Ohio is an excellent investment decision. Our state offers homeowners many benefits, from low living costs to excellent public schools. Plus, Ohio is consistently ranked one of the best places in the country for first-time home buyers, millennials, and to start a business.

The short answer is yes, at this moment in time the housing market is booming with higher home sales than even the pre-COVID-19 pandemic days.

Cincinnati is the third most populous city in Ohio, located along the southwestern border near the Ohio River. Its median housing prices in April 2024 were also higher than the statewide average at $270,500, a 6.5% increase from April 2023. Its median DOM in April 2024 was 39, suggesting a strong market for buyers.

Today, buyer demand is still greater than housing supply. So home prices are likely to stay mostly the same in 2024, with some markets experiencing a small increase or a small decrease in dollar amount.

On average, Ohioans need to earn $64,071 per year to afford a median-priced home of $215,300. That income is up 41.1% from $45,397 in January 2020, but the median price for a home in Ohio is the lowest in the nation, according to Bankrate. Iowa ($223,500) ranks second for median home price.

Rural Ohio provides a quality retirement destination for those seeking an affordable lifestyle amidst beautiful natural scenery. Boasting green spaces, cultural attractions, and a reasonable cost of living, the Buckeye State welcomes seniors to enjoy their golden years without breaking the bank.

The worst time to sell a house is typically during the winter months, particularly in December, January, and February. During this period, bad weather can deter potential buyers from attending open houses, and many people are preoccupied with holiday activities and planning.

What month do houses sell the fastest? ›

Bottom Line: The Best and Worst Month To Sell a Home

June is usually the best month to sell a house. It's when you're most likely to reach the most potential buyers and get a price above market value. As a result, on average nationwide, June has one of the highest median sale prices and the most sales overall.

When it comes to days of the week, Thursday is the sweet spot for listing your home for sale. This is mainly because house-hunters tend to plan their in-person home tours for the weekend, when they're not at work, and pre-weekend listings are fresh in their minds.

2024 Rent trends outlook

Rent growth across all submarkets is forecasted to range between 3.3% and 4.2%, significantly outperforming the broader national average. At the market level, rent growth in Columbus is expected to reach 3.6% by the end of the year.

As of the latest projections: July 31, 2024: A slight decline of -0.1% September 30, 2024: Anticipated decline of -0.2% June 30, 2025: A forecasted growth of 1.2%

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Columbus was the nation's 15th "hottest" housing market in June and the 8th highest "emerging housing market" for 2024, according to Realtor.com.