Ohio Home Prices are SKYROCKETING: Here's Why
You've heard it all before:
"Just wait a few more months."
"Summer is when the housing crash hits."
"Prices are about to plummet, and you’ll finally get a deal."
Well… it’s summer. And across Ohio?
Home prices just hit all-time highs. Again.
From Columbus to Toledo, prices are up—sometimes by double digits—and buyers are still writing offers. So what’s driving this market? And why isn’t it crashing like the internet promised?
Let’s break it down.
📈 Record-High Prices in Every Major Ohio Metro
Here are the median home prices as of July 2025:
Columbus: $364,000
Cleveland: $266,000 (+11% YoY)
Cincinnati: $316,000 (+6.8% YoY)
Toledo: $227,000 (+6% YoY)
Akron: $248,000 (new record)
Dayton: $258,000 (new record)
Canton: $235,000 (+7% YoY)
Licking County: $342,000 (+7% YoY)
Warren County: $461,000 (+15% YoY)
No matter where you look—prices are up. In some metros, dramatically.
🤔 But Inventory is Up… So Why Aren’t Prices Falling?
Yes, Ohio has more homes for sale than last year.
Columbus: Active listings +20%
Cincinnati: +14%
Dayton: +14%
Akron: +14%
Franklin County: +22.5%
Warren County: +30%
But here’s the catch: much of that inventory is overpriced, outdated, or simply not what buyers want.
Homes listed over $500,000? Piling up.
Homes priced under $300,000 in move-in condition? Still flying off the shelf in days. The market has inventory—but not the right inventory.
📉 New Listings Are Slowing Down Again
New listings—homes just hitting the market—should be surging if sellers were distressed. But they’re not.
Toledo: New listings down 9.5%
Pickaway County: Down 8.2%
Lucas County: Down 8.8%
Franklin County: Down 7.8%
If there’s widespread financial pain, you’d see it here. Instead, we’re seeing sellers hold tight, often sitting on 3% mortgage rates with nowhere affordable to go.
There’s no foreclosure wave either—thanks in part to lingering FHA protections that expire in October 2025.
🔥 Buyers Are Still Buying—At These Prices
Sales volume is up in most Ohio metros. That’s right—people are paying these prices.
Columbus: Homes sold +6%
Cincinnati: +12.6%
Licking County: +2%
Lucas County: +18%
Warren County: +23%
Why? One reason: lack of affordable, move-in ready homes.
Buyers aren't seeing enough quality listings under $300,000. And when those rare, clean, well-priced properties do hit the market? They're snapped up immediately. This isn't a frenzy of irrational buyers—it's a market starved for reasonably priced homes that don't need $50K in work.
⛔️ The Real Problem: Too Many Expensive Homes
Let’s use Hilliard (a suburb of Columbus) as a case study:
Median sale price: Down 6% YoY
Median days on market: Just 4 days
Inventory over $500K: Up 70% YoY
New listings under $300K: Nearly nonexistent
So yes—prices have dipped slightly in Hilliard. But only because what’s for sale skews luxury. Entry-level buyers are still struggling to find homes.
❌ What About the Crash Bros?
They told you to wait.
They promised blood in the streets.
But here’s the reality:
Ohio home prices are up across nearly every metro
Inventory is growing, but it's mostly the wrong homes
Sales are increasing, not declining
Sellers aren’t desperate, and foreclosures remain low
You don’t have to like this market. But denying it isn’t helping anyone.
🔍 Metro-by-Metro Recap
Here’s a lightning round of what’s happening in some of Ohio’s most talked-about areas:
Wooster: Prices up 3.4%, inventory up 34%, sales down 6.8%
Morrow County: Prices up 9%, inventory up 50%, sales down 18%
Delaware County: Median price $537,000, sales up 13%, flat YoY
Trumbull County: Prices up 16%, inventory up 14%, sales up 6.4%
Cuyahoga County (Cleveland): Prices up 12%, new listings flat
Lake County: Prices up 1.8%, sales down 11%
Lucas County (Toledo): Prices up 10%, new listings down 8.8%, sales up 18%
Across the board, we’re seeing higher prices, sluggish new listings, and strong demand in spite of it all.
🎯 Final Thoughts: Don’t Wait for a 50% Drop in Ohio
Ohio didn’t even drop that far in 2008. Columbus prices only fell 13% over five years back then.
If you’re waiting for a 60% crash… you may be waiting forever.
This isn’t 2008. This is a market where low supply + just enough demand = sticky prices.
The window to negotiate might still exist this winter—especially during the holidays when buyers disappear—but don’t expect fire-sale deals. Not unless we see a true wave of distress.
Want help navigating this wild Ohio market?
Whether you're buying, selling, or just want the facts, I’ve got you. Drop your Ohio county in the comments or reach out directly—I’m happy to run the numbers.
Thanks for reading,
Jasson Farrier | Ohio Housing Nerd
