PHOTOS FROM 123RF
total sales that were closed in 2019 in Central Ohio rose about 2% reaching a mark, 31,520. Additionally, the average sales price also rose 6%, reaching $227,658. According to Zillow, in 2020, the median home value for homes in the state of Ohio is $153,593. This shows that over the past year, home values have gone up 5.3% and Zillow predicts that the prices will fall -1.4% within the next year. Looking at the Ohio real estate market, we have to spotlight the Columbus, Cleveland, and Cincinnati housing markets. Columbus is the state’s capital and has come to be largely known for its rich historic neighbourhoods. These include the Victorian village, among others. Columbus median home value is $174,109. Data shows that the home values in Columbus have appreciated 8.4% over the past year, and they are predicted to fall -0.6% within the next year. 48 | JUNE 2022
Cleveland, located in northeastern Ohio, is another real estate market significant to the state of Ohio. Located on the shores of Lake Erie, the city offers a historical experience that you never want to miss. In total, the city has about 176 neighbourhoods, 25 historic districts, and more than 250 landmarks. The city’s median home value is $68,757. It is important to note that Cleveland is a black majority city with 52% of the population composed of African Americans. Further away in the hills of the Ohio River Valley in the Southwestern corner of the state in Cincinnati. Neighbourhoods here range from tree-lined streets with some of the nation’s inexpensive homes in the hills overlooking the city. The median home values in Cincinnati is 165,613. The market is very hot, characterizing a seller’s market. Over the past year, home values in Cincinnati have gone up 4.9%, and Zillow predicts that they will fall -1.3% within the next year.
