Lima Housing Market Report January 2025•Allen County, Ohio

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Housing Prices in Lima, OH

How much do homes in Lima, OH cost?

Housing Market Conditions

Is Lima, OH a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lima is a Seller's Market

Difference Since January 2024

Since last year, Lima has remained a Seller's Market.

Insight

Lima is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$176,043$121/SqFt
+$7,637
+4.5%

Based on all homes sold in the last 12 months

Insight

Homes in Lima have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Lima was $176,043 in January 2025, up 4.5% from last year, and the median price per square foot was $121.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Perry Township
+31.9%
Shawnee Township
+7.8%
Lima
+4.5%
Fort Shawnee
+2.4%
American Township
0.2%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$47.5K$70K
+47.4%
2$100K$121K
+21.0%
3$167.6K$174K
+3.8%
4$221K$248K
+12.2%
5$206K$279.9K
+35.9%

Summary: Lima housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +47.4%. The home price for 2 bedroom homes increased by +21.0%. The home price for 3 bedroom homes increased by +3.8%. The home price for 4 bedroom homes increased by +12.2%. The home price for 5 bedroom homes increased by +35.9%.

Housing supply in Lima, OH

How many homes are available in Lima, OH?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
236Last MonthJan 2025
2422 months agoDec 2024
-2.5 %
Change MoMDec – Jan

Summary: The Lima real estate market had 236 homes for sale in Jan 2025, a 2.5 % decrease compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
48Last MonthJan 2025
642 months agoDec 2024
-25.0 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
123
+50.0%
23636
0.0%
3132120
-9.1%
45362
+17.0%
51915
-21.1%

Summary: Lima housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +50.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -9.1%. The inventory for 4 bedroom homes increased by +17.0%. The inventory for 5 bedroom homes decreased by -21.1%.

Asking Price vs. Sold Price

How much do homes in Lima, OH cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price6 Homes

At Asking Price8 Homes

Under Asking Price34 Homes

Insight

If you're buying a home in Lima, you may be able to get a good deal. 70.8% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Lima in January 2025, down by 25.0% month-over-month. Of the 48 sold homes, 71% were sold under asking, 17% were sold at asking, and and 13% were sold over asking.

Days on Market for Lima, OH

How long does it take to sell a home in Lima, OH?

Breakdown of Home Sale Times

Under 30 Days17 Homes

30 – 90 Days20 Homes

Over 90 Days8 Homes

Insight

Avg time on Rocket Homes in Lima has remained consistent over time.

Summary: During January 2025, 48 homes were sold in Lima; 35% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
54 DaysThis YearJan 2025
44 Days1 year agoJan 2024
+22.8 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Lima had an average listing age of 54 days in Jan 2025, up by 22.8% compared to the previous year.

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Newest Listings in Lima, OH

What homes are available in Lima, OH?

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Nearby markets

Nearby markets aren't available for Lima, OH

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MLS Disclaimers and Copyright

Based on information from West Central Association of REALTORS MLS, Western Regional Information Systems and Technology Inc., Northwest Ohio Real Estate Information Systems, Columbus and Central Ohio Regional MLS, and Mansfield Assocation of REALTORS® MLS for the period 02/01/2023 - 02/01/2025

Information is provided by West Central Association of REALTORS®. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2025 – West Central Association of REALTORS – All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:15:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Information is provided by Western Regional Information Systems and Technology, Inc. Information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listing(s) information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright © 2025 Western Regional Information Systems and Technology, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:15:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Copyright 2025 NORIS. All rights reserved. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of the NORIS MLS. Real estate listings held by brokerage firms other than this brokerage are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. This broker participates in Northwest Ohio Real Estate Information Systems, Inc. Broker Reciprocity program, allowing us to display other broker’s listings on our site.

Information deemed reliable but not guaranteed to be accurate. The broker providing these data believes them to be correct but advises interested parties to confirm them before relying on them in a purchase decision. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX The information is being provided by Columbus and Central Ohio Regional Multiple Listing Service. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase.

Copyright © 2025 Columbus and Central Ohio Regional Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:20:58 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither Listing Broker(s) this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Copyright Mansfield Association of REALTORS® Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/11/2025, 9:15:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.