North Columbus News

The week of October 12-18 is expected to offer favorable conditions for homebuyers in Ohio, according to a recent study by realtor.com. The analysis indicates that this period may present an increase in available homes, lower prices, and less competition compared to other times of the year.

Danielle Hale, chief economist at realtor.com, said, “I expect this market momentum shift to magnify typical seasonal trends that favor home buyers in the fall.” She added that buyers nationwide could save more than $15,000 on a median-priced home compared to summer peaks and noted that Ohio buyers may see even greater benefits.

Data from the study highlights specific trends for major Ohio cities during this week. In Cincinnati, active listings are projected to be up by 21.4% compared to averages, with median prices down 10.7% from their seasonal peak. New listings are expected to rise slightly by 0.9%, while price reductions may increase by 1.7%.

Cleveland is forecasted to see active listings rise by 19.3%, with median prices dropping 8.8%. New listings could increase by 7.2%, and price reductions may go up by 1.8%.

Columbus is anticipated to have a 27.3% increase in active listings and a 10.3% decrease in median prices from the peak season. New listings are likely to be up by 4%, and price reductions could reach 2.5%.

Compared with national averages for the same week—where active listings are predicted to rise by about 14.7% and median prices drop by around 3.4%—Ohio markets appear poised for larger increases in inventory and steeper price declines.

Several factors contribute to these conditions:

Inventory levels are reaching their highest point since the pandemic began, providing buyers with more options.

According to Hale, “this increase is giving buyers something they haven’t had in years: breathing room. More choices mean less pressure to rush into a decision or waive contingencies.”

Mid-October listing prices across Ohio metros are falling well below summer highs.

A higher proportion of homes—about 1.7–2.5%—are expected to have price reductions as sellers adjust.

There is less buyer competition due to affordability concerns and higher mortgage rates.

Homes are staying on the market longer than earlier in the year, allowing buyers more time for decision-making.

New listings continue entering the market through mid-October, offering additional opportunities for those searching for homes.

These trends suggest that Ohio homebuyers looking for value may find mid-October an advantageous time for purchasing property.