February’s transactions were up 20.5% from January, when 751 transactions were recorded.
Active inventory at the end of February was 1,638 homes, representing a 1.8-month supply based on the current pace of sales, according to Dayton Realtors. A normal market inventory supply of homes is approximately three months, the group’s leaders previously have said.
“Inventory is tight, said Austin Castro, a team leader at Coldwell Banker. “We have a shortage of homes and you can see that by the decline in inventory.”
New listings in February 2025 decreased by 8.06% compared to February 2024, with 1,118 homes listed.
Year to date, listings are down 6.8%, and sales are down 15.9%. Median and average sale prices have increased by 6.1% and 3.9%, respectively.
“Prices are holding, and that’s solely because of inventory,” Castro said. ”Everybody wants to talk about interest rates, everybody wants to talk about external economic factors, the stock market, politics, things like that. You can tell that’s a whole lot more volatile than it was a couple months ago. However, inventory is still down and prices are up.“
Despite lower inventory and higher prices, “there are still deals out there to be found” and competition is not as fierce as it was in late 2023.
“Even though inventory is tight and average sale prices are up, the transactions aren’t as one-sided,” he said. “People aren’t really having to waive inspections and appraisals and give six months free occupancy in a house (following closing), so from a buyer standpoint, it’s much better a time than it was to buy 18 months or two years ago.”
Sellers still haven’t missed the proverbial bus yet, though, Castro said.
“Prices are still going up, but not at the rate that there were two years ago,” he said. “They’re still creeping up, and that’s solely off of inventory.”
Statewide, Ohio home sales in February reached 8,007, a 6.8% decrease from the 8,558 recorded during February 2024. The average sales price across Ohio in February reached $284,191, a 6.4% increase from the $267,187 mark posted in February 2024.
“Despite a slowdown in home sales this February, Ohio’s housing market remains resilient, with steady price growth reflecting continued demand,” Ohio Realtors President Michelle Billings said in a statement. “While sales activity has softened compared to last year, the rise in average sales price underscores that homeownership remains a great investment in our state.”
Twelve of the 14 Ohio markets that are tracked experienced an increase in average sale price for this February compared to February 2024, Ohio Realtors said.
During the first two months of the year, home sales activity was down 3.2% compared to January and February 2024. Year-to-date sales reached 15,480, down from the 15,987 homes sold during the same time span a year ago.
The average sales price during this period is $277,918, a 6.2% increase from the $261,576 mark set a year ago.
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