What is the story about?
What's Happening?
In Noble County, Ohio, the median home listing price in August was $305,200, marking a 6.1% decrease from the previous month's $324,900. This represents a significant 19.4% drop compared to August 2024, when the median price was $378,750. The data, sourced from Realtor.com, indicates that the median home size was 2,120 square feet, with a listing price of $147 per square foot, which is a 3.1% increase from the previous year. Homes in Noble County were listed for a median of 56 days, which is shorter than the national median of 60 days. The local market saw four new listings in August, consistent with the previous year.
Why It's Important?
The decrease in home listing prices in Noble County reflects broader trends in the real estate market, potentially indicating a cooling period or adjustments in buyer demand. This shift could impact local economic conditions, influencing property tax revenues and affecting homeowners' equity. The increase in price per square foot suggests that while overall prices are down, the value of space is rising, which may attract different buyer demographics. These changes could have implications for real estate agents, investors, and potential homebuyers in the area, as they navigate a shifting market landscape.
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