Richmond-area home prices fall 14.7% in May, with houses for sale in high demand
A typical Wayne County home listed for $144,900 in May, down 14.7% from a month earlier, an analysis of data from Realtor.com shows.
The median list home price in May was up about 61.2% from May 2021. Wayne County's median home was 1,781 square feet for a listed price of $91 per square foot.
The Wayne County market was busy, with a median 38 days on market. A month earlier, homes had a median 36 days on market. The market added 92 new home listings in May, compared with the 100 added in May 2021. The market ended the month with some 78 listings of homes for sale.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What were Richmond-area home prices in May? Here's a county-by-county breakdown
Home prices in Preble County, Ohio, rose 3.8%, to a median $179,500, from a month earlier. The typical house was on the market for 42 days, from 40 days a month earlier. The typical 1,546-square-foot house had a list price of $130 per square foot.
Home prices in Randolph County, Indiana, rose 5%, to a median $94,400, from a month earlier. The typical house was on the market for 24 days, from 44 days a month earlier. The typical 1,633-square-foot house had a list price of $71 per square foot.
Across all of Indiana, median home prices were $274,950, rising 5.8% from a month earlier. The median Indiana home for sale had 1,904 square feet at list price of $140 per square foot.
Across all of Ohio, median home prices were $225,000, rising 4.7% from a month earlier. The median Ohio home for sale had 1,691 square feet at list price of $130 per square foot.
Across the United States, median home prices were $446,950, up 5.2% from a month earlier. The median American home for sale had 1,861 square feet, listed at $226 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 Richmond Palladium-Item: Richmond-area homes for sale drop to $144,900 median price
