By 1812Blockhouse
The real estate market in Richland County, Ohio, has shown significant activity and growth in recent months. An analysis of recent sales data reveals a trend of increasing home prices and faster sales times, indicating a robust seller’s market.
June 2024 Statistics
In June 2024, the median home sold price in Richland County reached $210,000, with homes selling at a median price of $127 per square foot. A total of 114 homes were sold, and the median days on the market was just 9 days. The median listing price was $224,900, with a listing price per square foot of $136.
Comparison to Six-Month Averages
When comparing the recent statistics to the averages over the last six months, it is evident that the market has been experiencing an upward trend. The table below summarizes these comparisons:
| Statistic | June 2024 | Six-Month Average |
|---|---|---|
| Median Home Sold Price | $210,000 | $188,237.50 |
| Median Price per Square Foot | $127 | $129 |
| Median Days on Market | 9 days | 16.75 days |
Analysis
- Median Home Sold Price: The recent median home sold price of $210,000 in June 2024 is higher than the six-month average of $188,237.50, indicating a rise in home values.
- Median Price per Square Foot: The median price per square foot in June 2024 was $127, slightly lower than the six-month average of $129, suggesting some variability in price per square foot.
- Median Days on Market: Homes sold in June 2024 had a median of just 9 days on the market, significantly lower than the six-month average of 16.75 days, reflecting quicker sales.
Market Outlook
The data indicates that the Richland County real estate market is currently favoring sellers, with higher home prices and faster sales. This trend is likely to continue if demand remains strong and inventory levels stay relatively low.Overall, the Richland County housing market is experiencing a period of growth and dynamism, making it an attractive area for both buyers and sellers.
Sources Realtor.com, Zillow, Redfin, Rocket Homes, Mansfield News Journal
