Northeast Ohio’s real estate market is showing significant shifts as we move through the spring of 2025, with increasing inventory levels giving buyers more options while prices continue their steady climb upward.
According to recent market data, housing inventory across Ohio has increased by 16.3% compared to last year, with approximately 36,325 homes currently for sale statewide. In the early months of 2025, Ohio had 31,327 homes available, representing a 9.3% year-over-year increase, with the average supply sitting at about 3 months.
For Northeast Ohio specifically, this trend is creating new opportunities for both buyers and sellers as the market enters its traditionally busiest season.
“We’re seeing a healthy balance developing in our local market,” said Jane Blackstone, president of the Northeast Ohio Association of Realtors. “While inventory has improved significantly compared to the tight conditions we saw in previous years, demand remains strong enough to support continued price appreciation.”
Days on Market Increasing
Properties are now taking longer to sell across Ohio, with the median days on market rising to 45 days, which represents a 10-day increase compared to the same period last year. February statistics showed even longer timelines, with homes spending a median of 52 days on the market before selling.
In Cleveland and surrounding suburbs, the lengthening time on market is giving buyers more room to negotiate and consider options rather than being forced into quick decisions amid bidding wars.
The St. Louis Federal Reserve’s latest data shows that as of March 2025, the median days on market in Ohio stood at 42 days, with updated figures for April expected to be released on May 1.
This slowing pace represents a significant change from the frenzied market of recent years when homes would often sell within days of listing.
Pricing Trends Remain Positive
Despite increased inventory and longer selling timelines, home prices continue to appreciate across the region. According to Ohio REALTORS, the average sales price across the state reached $284,191 in February, marking a 6.4% increase from the $267,187 recorded in February 2024.
The current median home price in Ohio is approximately $247,200, though this figure varies significantly by location. Zillow data indicates the typical home value in Ohio is $218,865, having risen 3.5% over the past year.
Cleveland stands out among Northeast Ohio communities, experiencing the highest year-over-year price growth in the state according to market analysts.
Thomas Richardson, a real estate economist at Cleveland State University, explained, “Northeast Ohio continues to benefit from its relative affordability compared to other regions of the country. Even with the steady price increases we’re seeing, housing remains attainable for many first-time buyers and those relocating from more expensive markets.”
Market Balance Shifting
The Northeast Ohio real estate landscape appears to be evolving toward a more balanced market after years that strongly favored sellers. The Ohio real estate market is expected to lean more in favor of buyers in the latter half of 2025, with the combination of rising inventory and stabilizing mortgage rates giving shoppers more options and negotiating power.
Similar trends are being observed in nearby markets like Columbus, where new listings have increased significantly since mid-January, rising 28.1% year over year with overall inventory up by 37%.
Despite the increasing supply, real estate professionals note that well-priced, move-in ready homes in desirable neighborhoods are still attracting significant interest and often multiple offers.
Mortgage Rates Stabilizing
One factor supporting the market’s continued strength is the stabilization of mortgage rates. For Spring 2025, rates are projected to remain between 6-7%, which, while higher than pre-pandemic levels, appears manageable for many buyers who have adjusted to the new normal.
Local lenders report increased interest in various financing options, including adjustable-rate mortgages and down payment assistance programs, as buyers look for ways to maximize their purchasing power in the current environment.
Outlook for Summer
Real estate analysts project the Northeast Ohio market will maintain its momentum through the summer months, traditionally the busiest time for home sales in the region.
Limited inventory in affordable housing will likely remain a barrier for some buyers, especially in high-demand metro areas, potentially keeping competition high for entry-level homes even as the overall market becomes more balanced.
For those considering selling this summer, market conditions remain favorable, though sellers may need to adjust expectations regarding time on market and negotiation flexibility compared to recent years.
Northeast Ohio’s housing market continues to demonstrate resilience and stability, offering opportunities for both buyers and sellers as we move deeper into 2025.
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