Ohio home sales activity reaches record level in January
On February 23, 2016
By Carl Horst, OAR Director of Publications/Media Relations
The number of homes sold across Ohio in January rose 16.8 percent from the level posted during the month a year ago, the market’s 16th consecutive monthly year-over-year gain, according to the Ohio Association of REALTORS.
“Home sales activity throughout the Buckeye State is extremely robust, as we posted the best-ever sales totals for January,” said OAR President Sara Calo. “Equally impressive, the marketplace is also continuing to experience a steady, modest rise in the average sale price.”
January’s average home price of $143,562 reflects a 4.4 percent increase from the $137,535 mark posted during the month last year.
Sales in January reached a seasonally adjusted annual rate of 143,941, a 16.8 percent increase from the 123,275 level during the month a year ago. The month’s sales total eclipsed the previous best-ever mark of 142,816 set in January 2005. The market also experienced a marginal 1.4 percent decline in sales from December’s seasonally adjusted annual rate of 146,028.
Around the state, the average sales price increased in 14 of the 18 markets tracked. Similarly, 14 markets posted gains in sales activity.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 29,000 members, is the largest professional trade association in Ohio.