Is Kelleys Island, OH 43438 a buyer’s or seller’s market?
Kelleys Island is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Kelleys Island housing market right now
In the three months ending August 31, 2026, 0% of homes in Kelleys Island, OH 43438 sold above their list price, the typical home went under contract in 82 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (95 days then) and the median sale price rose 15% to $565,255. Overall, Kelleys Island is more competitive than a year ago, so tougher for buyers.
Within Erie County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Castalia 44824 (50% sold over asking) and Milan 44846 (36% sold over asking) are even more competitive.
Run the numbers for 43438
Nearby markets
Berlin Heights 44814Seller’s market $143 /sq ftCastalia 44824Balanced $177 /sq ftHuron 44839Seller’s market $184 /sq ftMilan 44846Seller’s market $180 /sq ft Browse all markets →Where Kelleys Island is
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Questions about Kelleys Island real estate
Is Kelleys Island a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Kelleys Island, OH 43438 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Kelleys Island?
The typical home went under contract in 82 days in the latest three months.
Do homes in Kelleys Island sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.7% of the list price.
What are property taxes in Kelleys Island?
About 1.22% of a home’s value a year in Erie County, or roughly $4,880 on a $400,000 home.
What is the median home price in Kelleys Island?
The median sale price was $565,255 in the three months ending August 31, 2026, about $427 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology