Canfield, OH 44406 Real Estate Market Report

ZIP Code: 44406
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Canfield, OH is currently characterized by a median sold price of $320,000, reflecting a strong demand amidst limited inventory. This market has shown resilience with prices trending up year-over-year, indicating a robust appreciation in property values. The median listing price stands at $407,400, which suggests a notable pricing gap between what sellers are asking and what buyers are willing to pay, potentially leading to pricing friction in negotiations.

With 290 days as the median days on market, the current sales velocity appears slower, indicating that while demand remains, buyers may be exercising caution in their purchasing decisions. The elevated inventory levels relative to sales activity suggest that the market may be experiencing excess supply, which could impact future pricing dynamics. Overall, the market temperature is classified as hot, driven by positive economic trends in Ohio, but the slower transaction volume may indicate a need for sellers to adjust expectations to align with buyer sentiment.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

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Key Findings

1. $320,000 is the median sold price, indicating strong demand despite elevated inventory levels.

2. The median listing price of $407,400 suggests potential pricing friction between seller expectations and buyer willingness.

3. With 290 days as the median days on market, the market is experiencing slower sales velocity, which may indicate buyer caution.

4. The market temperature is currently hot, reflecting ongoing demand and positive economic trends in the area.

5. $1,060 is the median market rent, suggesting upward pressure on rental prices due to limited availability.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.