ThisWeek Community Newspapers

Thursday, December 29, 2005

Harley E. Rouda Jr.
Harley E. Rouda Jr. is CEO and managing partner of Real Living, parent company of Columbus-based HER Real Living. E-mail: hjr@realliving.com.

Good news, Ohioans! If you're looking to upgrade or get out of your apartment, the Midwest is a great place to buy a home, from a price perspective.

The National Association of Realtors just published its September-October 2005 research on median house prices, and the Midwest region is the least expensive in the country.

Here's a breakdown of homes by median price in select Ohio cities. The median price is the average, or the typical market price where half of the homes sold for more and half sold for less.

Youngstown had the lowest median price at $82,900. Coming close were Toledo with $118,600 and Akron with $119,800. Cleveland's median price was $147,000, while Cincinnati trailed with $148,500. Columbus' average was $157,000.

Compared to other regions, most of the Midwest is well below the national average, which was $216,200 for a single-family home. This is up 16.6 percent from a year ago. The median price in the Midwest was $170,000. Of the major Ohio cities, Columbus was the most expensive, but still 30 percent less than the national average.

Many people like to relocate to sunnier weather, especially during the winter months. Prices are reaching record highs in the hot spots. For example, Naples, Fla., was 79 percent above the national average during the second quarter. In California metro areas, prices ranged from $387,000 (Inland Empire east of Los Angeles) to $722,000 (San Francisco).

If you're looking for sunny and 70 degrees year-round, you'll pay a pretty penny for it. These prices have remained fairly stable throughout the year.

To take advantage of the great housing deals Ohio has to offer, call your favorite real estate agent. If you're done with the snow forever, a relocation specialist will be able to give you all the details about your perspective city.