Ohio Real Estate Market: What to Expect In 2025

The current median home sale price of $247,200 is stable and rising steadily at 11% YoY. Moreover, homes spend only 45 days on the market. This indicates that the Ohio real estate market is pretty much competitive.

The average months of home supply are 2 months YoY. A market with fewer months of supply indicates a seller’s market. However, the number of homes sold was 9,178 homes sold, down from 11,485 homes sold last year.

Such inactivity in the market is mainly due to the recent NAR settlement. People are anxious about the selling prices and agents’ compensation.

The NAR settlement has removed the buyers’ agent compensation and many MLSs have followed suit. It will probably reduce the home selling prices. As a result, buyers will have improved affordability along with low mortgage rates. Here are some tips for you to sustain in the market:

• If You Are a Home Buyer: Homes for sale (37,809) grow at 16.3%. Along with this, the expected drop in home prices can benefit you. The low interest rates at 6.37%-6.62% are now in buyers’ favor. Also, in case of low housing demand and prices, you can request seller concessions.
• If You Are a Home Seller: You can lock in Ohio’s current high home prices. The correction in the home prices is long overdue. In the wake of the NAR settlement, home prices may drop a little more. If you’re a seller, you can still make profits on home sales before prices potentially drop.

So, How Is the Real Estate Market in Ohio?

Balanced!

The number of homes for sale increased by 11% compared to the previous year. This is the 5th consecutive month the housing market has witnessed such growth. Other important facts are:

• Median Days on Market: The median days on the market for homes for sale are 45 days, up by 10 days YoY. This trend suggests a high demand in the Ohio real estate market.
• Housing Inventory and Supply: As a buyer, you have more options now as the housing inventory is up by 16.3%. There are 36,325 homes for sale in Ohio, with an average supply of 2 months.
• Average Home Prices: The median home price in Ohio is $247,200. But, it is expected to decrease due to a rise in inventory in the latter half of 2025. The sale-to-list price ratio is 100.1%, down by 0.68 pt YoY.
• Home Sales: Home sales decreased by 0.12% YoY! Only 9,178 homes were sold, compared to 9,189 last year.
• Average Rent Prices: Rental costs vary statewide. The median rent is $1,300 with a month-over-month change is $0.

Current Trends in Ohio’s Market

Ohio’s real estate market has a balanced inventory of homes for sale. Besides this, a steady increase in median home prices favors home sellers. Homes spend 45 days on the market which depicts the competitive market.

Let’s look at some more facts:

• Fewer Days on the Market: Homes spend only 45 days on the market before going under contract. This is visible in metro cities like Shaker Heights and Sandusky where the average days on the market is between 19 to 45 days.
• Multiple Offers on Homes: Shaker Heights has got 81 and Sandusky got 63 in Redfin’s Compete Score. It means the housing market in Ohio is very competitive. It shows that many homes get multiple offers, some even sold without contingencies.
• High Sale-To-List Price: The average homes sell for about 2% above the list price whereas hot homes sell for about 9% above the list price. The average sale-to-list price ratio in Shaker Heights is 99.8%.
• Homes Sell Above List Price: On average, 40.4% of homes sell above list prices. However, in July, 30.7% of homes experienced price drops, compared to 34.5% last year. This trend indicates a gradual shift toward a buyer’s market.

So, How Is the Real Estate Market in Ohio?

Balanced!

The number of homes for sale increased by 11% compared to the previous year. This is the 5th consecutive month the housing market has witnessed such growth. Other important facts are:

• Median Days on Market: The median days on the market for homes for sale are 45 days, up by 10 days YoY. This trend suggests a high demand in the Ohio real estate market.
• Housing Inventory and Supply: As a buyer, you have more options now as the housing inventory is up by 16.3%. There are 36,325 homes for sale in Ohio, with an average supply of 2 months.
• Average Home Prices: The median home price in Ohio is $247,200. But, it is expected to decrease due to a rise in inventory in the latter half of 2025. The sale-to-list price ratio is 100.1%, down by 0.68 pt YoY.
• Home Sales: Home sales decreased by 0.12% YoY! Only 9,178 homes were sold, compared to 9,189 last year.
• Average Rent Prices: Rental costs vary statewide. The median rent is $1,300 with a month-over-month change is $0.

Current Trends in Ohio’s Market

Ohio’s real estate market has a balanced inventory of homes for sale. Besides this, a steady increase in median home prices favors home sellers. Homes spend 45 days on the market which depicts the competitive market.

Let’s look at some more facts:

• Fewer Days on the Market: Homes spend only 45 days on the market before going under contract. This is visible in metro cities like Shaker Heights and Sandusky where the average days on the market is between 19 to 45 days.
• Multiple Offers on Homes: Shaker Heights has got 81 and Sandusky got 63 in Redfin’s Compete Score. It means the housing market in Ohio is very competitive. It shows that many homes get multiple offers, some even sold without contingencies.
• High Sale-To-List Price: The average homes sell for about 2% above the list price whereas hot homes sell for about 9% above the list price. The average sale-to-list price ratio in Shaker Heights is 99.8%.
• Homes Sell Above List Price: On average, 40.4% of homes sell above list prices. However, in July, 30.7% of homes experienced price drops, compared to 34.5% last year. This trend indicates a gradual shift toward a buyer’s market.