Market Snapshot
Inventory is rising across the state of Ohio, but prices are not backing down. If you were actively involved in buying or selling a home over the past few years it probably felt like a game of musical chairs. The early 2020s saw some of the lowest inventory on record, sparking bidding wars, all-cash offers and the median age of homebuyers skyrocketing. Housing today still remains one of the most important financial assets an American family can hold. With all of these recent shifts in the market, consider this update a guide to what has happened.
Ohio’s median listing price has experienced sustained growth over the past decade, rising from approximately $129,913 in January 2017 to $281,950 in April 2026. The market saw its most aggressive appreciation during the pandemic surge of 2020 – 2023. During this time prices climbed sharply from around $173,450 in January of 2020 to a peak near $274,950 in August of 2023. So, if you purchased a home prior to 2020 then congratulations, you timed the market. Those who missed the opportunity are likely feeling the same challenges that millions of young homebuyers are currently facing.
According to the National Association of Realtors (NAR) 2025 Profile of Home Buyers and Sellers, first-time homebuyers made up just 21% of the market in 2025. This was the lowest share since the NAR began tracking the data in 1981. Prior to 2008 and the Great Recession, first-time homebuyers consistently accounted for 40% of annual home sales. The median age of a first-time homebuyer increased to 40, a new all-time high. The median age of a repeat home buyer increased to 62, another new all-time high. The share of home buyers that have children under the age of 18 decreased to just 24%, an all-time low. Finally, home purchases that were made with all cash averaged 26% in 2025, another all-time high. As a comparison from 2003 to 2010, less than one in 10 buyers paid all cash on a home sale. While this data might seem daunting, especially for young Americans, the recent housing market data in Ohio is not as negative.
Ohio’s active housing inventory has undergone a dramatic transformation over the past decade. For years following the Great Recession Ohio routinely carried over 30,000 active listings as the United States recovered from the housing crash. This large supply of homes was then wiped out by a combination of low interest rates, emerging work from home initiatives and federal stimulus checks. By March of 2022, inventory had decreased by 72.7% to new historic lows.
As the Federal Reserve aggressively hiked rates through 2022 and into 2023, buyers activity softened and homes began to linger longer, allowing active listings to accumulate. By late 2023, year-over-year active inventory gains across Ohio were as high as 20%, and that upward momentum has continued into 2026. As of April 2026, the year over year active listing count in Ohio has been positive for 29 straight months. The most recent active listing count of 17,234 represents a 2.3% year-over-year gain and is more than double the historic 2022 low.
Median Listing Price Trends
The Cincinnati and Columbus Metropolitan Statistical Areas (MSA) have long established themselves as Ohio’s premier housing markets. The Columbus MSA surged from a median listing price of $249,320 in 2017 to a peak of $378,387 in 2023, while Cincinnati increased from $228,900 to $372,075 over that same period. However, since that 2023 peak both markets have plateaued. The median listing price in Columbus currently sits at $354,844, and Cincinnati sits at $343,146 as of April 2026. It is important to note that median listing prices typically peak around June or July of each year, meaning that these markets should tick up in the coming months. Barring a dramatic rise in median listing price over the next few months, the data shows that these two markets are going on four years of stagnation. Both Columbus and Cincinnati have experienced a 5.6% increase since 2022, the weakest appreciation rate among the six major metros.
Initially the three major northern Ohio MSAs of Cleveland, Toledo and Akron all lagged well behind Columbus and Cincinnati in median listing price growth. Since 2022 these markets have surged with Toledo up 28.5%, Akron up 19.1%, Cleveland up 21.9%. All three are experiencing growth rates higher than the 5.6% posted by both Columbus and Cincinnati over that same stretch. The Dayton MSA stands alone from the other major metros with median listing prices more than doubling since 2017. The median listing price has increased from $120,700 to $244,750, or an increase of 102.8%. This is the strongest growth rate of any Ohio metro over that period. Overall, while the Columbus and Cincinnati housing markets experienced an initial surge in price, the other metros have begun to catch up over the previous years.
Active Inventory Trends
After bottoming out in 2021, Ohio’s major markets have begun to see a meaningful recovery in active housing inventory. This trend will continue accelerating heading into the summer of 2026, where most of Ohio’s markets will see the highest amount of active inventory in years. Active inventory in Ohio always hits a high around October or November of each year, meaning that the 2026 estimates in the table above will continue to shift higher. Cincinnati and Columbus have led the rebound in Ohio, with active listings up 51.1% and 42.2% since 2022, respectively. They are followed by Dayton and Toledo which have experienced active listing count increases of 23.8% and 14.4% since 2022, respectively. Cleveland and Akron stand apart from their Ohio peers as both are the only two with negative active inventory counts since 2022. While their 2026 active listing count figures will increase as the summer months are added into the equation, the housing market in these metropolitan areas are currently tighter than the other four major metros. It should be noted that while the active supply in the Cleveland MSA has not shown a significant increase the City of Cleveland has. The inventory of homes in the City of Cleveland has increased by 10.4% year-over-year from March of 2025 to 2026.
What To Watch For
The Federal Reserve held its target federal funds interest rate in the 3.50% – 3.75% range in the April meeting. Almost all of the Federal Reserve voting members were in favor of the decision, with the exception of one voter. On the other hand, President Donald Trump has consistently pushed the central bank to cut interest rates. In a December post on Truth Social, he stated he would only appoint someone to the central bank who agrees with him. With President Trump’s handpicked nominee Kevin Warsh poised to succeed Jerome Powell as Chair of the Federal Reserve he might finally get his wish.
The Ohio housing market’s future essentially splits into two scenarios. If rates remain at their current levels, Ohio’s active housing stock is expected to continue increasing. Affordability constraints will continue to persist for younger and first-time buyers. Markets like Columbus and Cincinnati, which have seen relatively no meaningful price growth since 2022, are likely to remain in their current course. This slower price appreciation should benefit young buyers in those markets who have increased savings and incomes while waiting on the sidelines over previous years.
If rates do fall meaningfully, the calculus could change quickly. A significant rate cut would likely pull a wave of sidelined buyers back into the market, many of whom have been waiting for exactly that moment. The result would likely be a tightening of inventory, renewed demand, and upward pressure on prices. Ironically, the very relief that many buyers are hoping for could make the market harder to navigate once it arrives. For anyone considering a move in the next twelve to twenty-four months, the window that exists today may prove to be the calmest buying environment Ohio sees for quite some time.
About the Data
The Ohio residential market data in this newsletter is sourced from the Realtor.com Residential Real Estate Data Library. Realtor.com aggregates and analyzes housing market information from hundreds of sources to generate a set of metrics across markets throughout the United States. Where possible, figures and trends are curated to ensure reliability and comparability, and the research combines proprietary metrics with current econometric analysis and broader industry statistics to deliver a timely and accurate view of market conditions.
Readers should note a few important considerations when interpreting this data. Because Realtor.com continuously refines its coverage and definitions, certain data points may be more volatile or less directly comparable over time. Additionally, with the publication of January 2025 data, metro-level reporting was updated to reflect the 2023 Office of Management and Budget (OMB) metropolitan area definitions, with historical data fully revised to align with those updated boundaries. As a result, some shifts in metro-level statistics may reflect changes in geographic definitions rather than underlying market conditions. Full historical data series are reissued monthly, and past figures may be revised as data breadth and accuracy improve.
Contact
KJK’s Real Estate and Economic Development team regularly advises clients on navigating regulatory changes, development incentives, and financing structures. To discuss how these developments may affect your projects or investment strategy, contact KJK partners David Ebersole (DME@kjk.com), Richard A. Morehouse (RAM@kjk.com) or Harrison Crume (SHC@kjk.com).