Toledo housing inventory jumps 46% as Midwest markets recalibrate

Toledo’s single-family home inventory surged to 1,150 active listings for the week ending Nov. 22, 2025, marking a 46% increase from 787 homes a year earlier. The dramatic inventory expansion coincides with widespread price adjustments, as 38.3% of active listings reduced their asking prices during the week.

The median list price in the Toledo metro dropped 6.3% year-over-year to $220,000, down from $234,900 in November 2024. Despite the inventory buildup, buyer activity remained robust with 133 homes absorbed during the week, an 11.8% increase from 119 homes during the same period last year.

Price adjustments reshape competitive landscape

Toledo sellers are responding to changing market dynamics through aggressive pricing strategies. The 38.3% of listings with price reductions far exceeds the 0.5% that increased prices during the week. At $140.6 per square foot, Toledo homes trade at a 33% discount to the national average of $210.6 per square foot.

The market maintains 2.2 months of inventory supply, indicating seller-favorable conditions persist despite the rapid inventory growth. New listings totaled 141 homes during the week, while 133 homes left the market through sales or other absorption.

Regional value proposition strengthens

Toledo’s pricing advantage extends beyond national comparisons. The metro’s $220,000 median list price sits 21.4% below Ohio’s statewide median of $279,999. Price per square foot in Toledo trails the state average by 14%, with Ohio homes averaging $163.4 per square foot.

The relisted property rate reached 9.2%, suggesting some homes are cycling back onto the market after failed transactions or seller withdrawals.

Market velocity matches state benchmarks

Homes in Toledo spent a median 49 days on market, matching Ohio’s statewide pace exactly. This represents a 16.7% increase from 42 days a year ago but remains 36.4% faster than the national median of 77 days.

The alignment with state-level timing metrics indicates Toledo’s market moves in step with broader Ohio trends despite its distinct inventory and pricing dynamics.

Monitor the 46% inventory growth rate and whether new listing volumes sustain above 140 weekly. Track the 38.3% price reduction rate as a leading indicator of seller sentiment. Watch whether the 133 weekly absorption rate holds steady against rising inventory levels.

Use Toledo’s $140.6 per square foot benchmark when advising clients on regional value opportunities. Leverage the 49-day median market time for realistic listing expectations. Share the 2.2 months supply metric to contextualize negotiating dynamics in seller-favorable conditions.

HousingWire used HW Data to source this story. To see what’s happening in your own local market, generate housing market reports. For enterprise clients looking to license the same market data at a larger scale, visit HW Data.