According to Property Shark, which tracks real estate data, 2016 was a very good year for real estate transactions in Ohio.
"Residential real estate in Ohio had a great run in 2016, registering its best year in a decade, despite rising prices and rapidly shrinking inventory levels," reads an article on PropertyShark.com.
For some of the most expensive communities in Northeast Ohio, it was a very good year indeed--with half of the ten priciest zip codes falling in our region.
More evidence?
- More than 151,000 homes traded in the Buckeye State in 2016
- That's a 7.5 percent increase over 2015
- Northeast Ohio had an even better run, experiencing a 7.8 percent increase in sales across all segments of the residential buying market
- Single family homes sales were up 8.6 percent over 2015 levels
"Sales activity is expected to stay dynamic throughout the current year," continues Property Shark. "In fact, market indicators for early 2017 show that Ohio is not slowing down, with prices and sales volume increasing, while inventories continue to shrink."
Property Shark lists the 50 priciest zip codes in the state, and Northeast Ohio communities well-represented. You can see the full list here.
Top 10 priciest Ohio zip codes:
- Terrace Park, Hamilton County | Zip Code 45174 | Median Home Price $449,000
- Galena, Delaware County | Zip Code 43021 | Median Home Price $388,043
- Gates Mills, Cuyahoga County | Zip Code 44040 | Median Home Price 373,000
- Cincinnati, Hamilton County | Zip Code 45243 | Median Home Price $345,000
- Cincinnati, Hamilton County | Zip Code 45249 | Median Home Price $325,000
- Chagrin Falls, Cuyahoga County | Zip Code 44022 | Median Home Price $320,000
- Powell, Delaware County | Zip Code 43065 | Median Home Price $314,000
- Hudson, Summit County | Zip Code 44236 | Median Home Price $313,500
- Richfield, Summit County | Zip Code 44286 | Median Home Price $309,000
- Valley City, Medina County | Zip Code 44280 | Media Home Price $305,750
Rocky River cha-ching!
Ohio's most expensive real estate transaction of 2016: According to Property Shark, it was a home at 22222 Westlake Road in Rocky River (pictured above), which sold for $2,950,000 in April 2016.
The five-bedroom home is located in the 44116 zip code, which didn’t even make it into the top 50 priciest zip codes in Ohio.
MAP: Click on each icon to learn more about the priciest zip codes
