Northwest Ohio’s Growing Real Estate Market
Blog, Real Estate
March 30, 2020 |
Ohio’s diverse population, cities, and attractions have created a massive opportunity for real estate agents. The state’s stable economy, relatively low cost of living, and thriving real estate market make it appealing to many prospective buyers.
In recent years, northwest Ohio, known for its agricultural and industrial impact, has become an affordable and safe place to call home. It borders Lake Erie, southeast Michigan and eastern Indiana making it an easily accessible area for bordering cities and states. With popular areas like Toledo, Findlay, and Sandusky, the real estate market has seen a recent boom in potential and popularity.
Toledo, or sometimes referred to as “The Glass City” for its long history of glass production, is one of the largest real estate markets in northwest Ohio. It’s no surprise that potential buyers are looking to get the most out of their money when investing in a new home, making affordability and location two of the most important buying factors.
The Toledo Blade, Toledo’s local newspaper, reported “the combination of affordable housing and dropping inventory has turned Toledo into a competitive market, where good homes sell quickly and great ones are sold before most buyers even know they’re for sale.”
The average home price in Toledo hovers around $165,000 with popular suburbs like Bowling Green, Perrysburg, Maumee, and Holland skyrocketing in popularity. Toledo will see vast amounts of growth in the near future.
Findlay, located in Hancock county, is an industrial and cultural landmark in northwest Ohio. It’s home to delicious food, a thriving arts and music scene, and major corporations including Marathon Petroleum Corporation, Cooper Tire, and Dietsch Brothers Fine Chocolates and Ice Cream. Its corporate landscape guarantees a high-employment rate and a booming real estate market.
In addition to the many corporations that call Findlay home, the University of Findlay is a well-known landmark in the city. The private university is known for its science/health professions, animal science, and equestrian studies programs. With its high student enrollment rate, the University provides the Findlay area with a large opportunity for rental properties for both prospective buyers and real estate agents.
Sandusky is located in northwest Ohio on the shores of Lake Erie halfway between Toledo and Cleveland. Sandusky’s tourism industry is fueled by Cedar Fair Entertainment Company and its amusement park, Cedar Point. Cedar Point is known for having the largest collection of roller coasters in the world, earning Sandusky’s nickname of being “the roller coaster capital of the world”.
In 2011, Sandusky was ranked number one by Forbes as the “Best Place to Live Cheaply” in the United States. Zillow reports that Sandusky is a seller’s market, and predicts a 4.8% increase in home values in 2020. With an average home price of $74,233 Sandusky offers diverse, affordable places to live. If you’re looking to settle away from the shrieks and thrills of Cedar Point’s roller coasters, popular coastal suburbs worth checking out include Marblehead, Lakeside, and Huron.
Northwest Ohio has become a great opportunity for real estate agents and prospective buyers because of its location, affordability, and potential for growth. If you’re interested in becoming a licensed real estate agent in the state of Ohio, check out our prelicensing courses and learn why over one million students have chosen Hondros as their real estate school.