Ohio Real Estate Trends - A New Way to Look at Ohio Realty

Over 16% of all listings in the Ohio real estate market are undeveloped lots and land for sale. While some of these properties are city lots, there are also plenty of large parcels available for the creative builder. Both commercial investors and individuals looking for a rural getaway will be tempted by the wide variety of offerings available in Ohio. Some properties can be over 100 acres and are listed at a whopping $14 million dollars.

Despite a slow economic recovery, and some minor ups and downs each month, the average list price for Ohio real estate has remained rather steady since the end of 2011. Single family units changed from $175,000 to $180,000 and condos from $147,000 to $141,000. Perhaps these steady prices have encouraged buyers to take a chance on Ohio real estate since the inventory has started selling more rapidly. On average condos are listed for approximately 200 days and the average house takes over 150 days to sell.

The condo and townhouse sector of the Ohio real estate market appears to be performing quite well. Average sale prices of $117,000 are just 19% under the seller list price. The detached family home market in Ohio real estate isn't fairing nearly so well and in some recent months the average sale price has been as much as 35% below the average list price of $178,000.