Bucyrus-area home prices fall 4.2% in October, with houses for sale in high demand
A typical Crawford County home listed for $114,900 in October, down 4.2% from the previous month's $119,900, an analysis of data from Realtor.com shows.
The median list home price in October was down about 11.2% from October 2021. Crawford County's median home was 1,466 square feet for a listed price of $85 per square foot.
The Crawford County market was busy, with a median 40 days on market. A month earlier, homes had a median 48 days on market. The market added 40 new home listings in October, compared with the 44 added in October 2021. The market ended the month with some 81 listings of homes for sale.
High interest rates are making mortgage payments more expensive. With prevailing mortgage rates and 20% down, the mortgage payment on Crawford County's median home would cost $616 per month, not including insurance, closing fees, homeowner association dues or other costs, according to a USA TODAY Network analysis. A month earlier, the median home mortgage would have cost $619. A year earlier, the median home mortgage would have cost $444.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
Across all of Ohio, median home prices were $225,000, similar to the previous month. The median Ohio home for sale had 1,692 square feet at list price of $131 per square foot.
Across the United States, median home prices were $425,000, down 0.5% from a month earlier. The median American home for sale had 1,876 square feet, listed at $218 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on Bucyrus Telegraph-Forum: Bucyrus-area homes for sale drop to $114,900 median price
