2024 Property Sales Continue to Climb

Jefferson- The real estate market in Ashtabula County is still strong according to data released by the Ashtabula County Auditor’s Office. Auditor David Thomas and Real Estate Manager Scott Yamamoto have been monitoring real estate sales and the property values associated with those properties that have sold ahead of the 2026 county-wide revaluation. 

“We’re going to keep the public apprised as much as possible with another mass-value change looming and the unprecedented increasing market that doesn’t seem to be easing,” said Real Estate Manager Yamamoto. 

The Ohio Department of Taxation has ordered the six-year reappraisal where all properties in the county will be appraised on their own merits as of January 1, 2026.  This type of reappraisal takes almost 2 years to complete. Roughly 80,000 parcels in Ashtabula County will be inspected by the Auditor’s Office starting later in 2024.

“The volume of sales has slowed but the fees collected for property transfers is increasing – which tells us that while fewer properties are selling, the prices are still increasing,” adds Yamamoto.   

Yamamoto, who has more than 32 years as a veteran mass appraiser, runs statistics on the county values to see how they’re holding up against the sales in 2023 and the first quarter of 2024.  “The Auditor’s values for the properties that sold in 2023 averaged 80% of the sale price.  We’re supposed to be a lot closer to the sale price than that,” according to Yamamoto. “Sales volume is typically lighter in the late and early months of a year.  We’ll see what happens once we have a full-year’s sales data for 2024.” 

Auditor Thomas adds that while legislators are working diligently to find a solution to real estate taxation with unprecedented values, “these things take time and there’s no guarantee of a quick solution especially given the disfunction in Columbus presently”.  Thomas urges property owners to monitor the Auditor’s website and social media outlets for information as it becomes available and to be aware of levy requests and future property changes.