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Rate of home sales across Ohio reaches an all-time high in November

sold sign

By Carl Horst, Ohio REALTORS Director of Publications/Media Relations

The rate of homes sold across Ohio in November reached a best-ever level, posting a 6.9 percent increase from the prior record-setting level reached during the month a year ago, according to Ohio REALTORS.

“Home sales across Ohio in November were remarkably strong, as sales activity during the month reached an all-time high – besting any month since we began tracking data in 1998,” said Ohio REALTORS President Pete Kopf. “Equally important, the marketplace is continuing to experience a healthy, sustained increase in average pricing.

“Ohio’s REALTOR community is hopeful that we’ll continue to see an uptick in the number of homes being marketed for sale so we can continue to build on the positive momentum that has been established during the first 11 months of the year.”

Sales in November reached a seasonally adjusted annual rate of 160,511, a 6.9 percent increase from the 150,157 level reached during the month a year ago. The market also experienced a 4.3 percent increase in sales from the October 2017 seasonally adjusted annual rate of 153,882.

November’s average home price of $174,689 reflects a 7.7 percent increase from the $162,152 mark posted during the month last year.

The previous all-time best sales month was attained earlier this year when the rate of sales reached 156,096 in March.

Around the state, 11 of the 18 markets tracked reported upswings in average sales price, while the rate of home sales increased in 10 markets compared to November 2016.

Data provided to Ohio REALTORS by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS, with more than 32,000 members, is the largest professional trade association in Ohio.

Click here to view the seasonally adjusted Ohio home sales report and a market by market analysis of sales activity throughout Ohio and local contact information. To view a market-by-market sales report, click here.

Tags: home sales, research