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Ohio Real Estate Summary
The Ohio real estate market is mixed in value. In cities like Columbus, the need for housing is strong. In places like Youngstown and Cincinnati, the need is declining and the market is in favor of the buyer. The economy is in a slump where many manufacturing plants employed thousands of people but have recently closed. Unemployment is growing and the demand for houses falls as Ohio relocations decline in many areas.
Columbus homes for sale are a hot commodity. The average price is $127,000, which makes the houses very affordable. However, with a large college campus and a growing population, houses are hard to come by. Columbus real estate is becoming more balanced between buyers and sellers, but sellers are still favored. Houses are usually only on the market for a matter of days.
Dayton real estate is also a popular market. Houses sell for an average $150,000, which is 95% of the asking price. The houses are on the market between 60-90 days before receiving an offer. The sale prices have remained consistent with last year. New construction has slowed and has stayed with last year´s 5% growth rate as well. | 