Ohio Homes For Sale Zillow (2024)

FAQs

Are home sales slowing down in Ohio? ›

Home sales have steadily declined since the start of the pandemic. In 2022, there were 209,612 homes purchased in Ohio – the lowest annual number since 2015.

There are currently 37,829 homes for sale in Ohio. The median list price in Ohio is $279,900 and the average price per square foot is $162.

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.

A low supply and high demand often push home prices up, while an increased supply and low demand will result in lower home values. Currently, there is a low supply of houses in Cleveland, which means that sellers can benefit from the competition between buyers.

A low inventory of new homes may leave buyers competing for those on the market. In addition, mortgage rates have been steadily dropping since October 2023, leading experts to believe 2024 may offer good news to those wanting to move. Increased prices and volume mean good things for the real estate industry.

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.

Homeowners spend $372,480 in total to build a house in the Buckeye State, which is $137,280 more than the median sale price. Expensive labor, supply chain issues, and a rise in material costs can further increase your expenses. In most cases, it is more affordable to buy a home for sale in Ohio and move in quickly.

On average, Ohioans need to earn $64,071 per year to afford a median-priced home of $215,300.

The average cost to build a new house in Ohio is $111.24 per square foot, with prices ranging from $100 to $250 per square foot. For a 2,000-square-foot home, the average construction cost is $222,480, while the total cost to build a home in the state falls between $200,000 and $500,000.

What is the cheapest place to live in Ohio? The cheapest place to live in Ohio is Youngstown. It offers affordable amenities and utilities which are 18% lower than the national average.

What's the nicest place to live in Ohio? ›

Ohio is the #1 most affordable state in the U.S. That means the life you want is within financial reach. Whether you're building a business or a career, you'll get more for your money when great salaries, lower taxes, and a better cost of living combine to open the doors to your American Dream.

Housing (Buy and Rent)

The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Cleveland is $1,363, while home prices circle around $361,000.

The Village of Indian Hill takes the crown as one of the most expensive places to live in Ohio, as well as the richest city, with a staggering median income of $218,073 and home prices ranging from $600,000 to $4 million.

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 11.4% year over year and there were 11,614 homes sold in June this year, down 13,102 homes sold in June last year.

The average Ohio home value is $234,640, up 6.8% over the past year and goes to pending in around 5 days.

Right now, Ohio has a deficit of 267,000 housing units, the advocate added. “The biggest issue, I think, is that we know that in the state of Ohio, over 68% of extremely low-income individuals are paying more than 50% of their income on housing costs,” she said.

Broadly speaking, spring is generally the best time of year to sell your home. Many families need to be in their new home by the start of the school year, and house-hunting is easier when days are warmer and longer. Fall and winter typically see the lowest amount of homebuying activity.