August home sales up 4.2 percent
Sales activity in the Ohio housing marketplace in August rose 4.2 percent from the level of closings that occurred during the month a year ago, according to Ohio REALTORS.
“The Ohio housing marketplace continued to rebound in August, as both sales activity average price posted healthy gains,” said Ohio REALTORS President Chris Reese.
“Our August results mark the second consecutive uptick in monthly activity following the slowdown that occurred following the onset of the COVIDâ€19 pandemic this spring – a clear indication that Ohioans understand that housing is a solid, longâ€term investment."
“While historically low mortgage rates have helped spur interest in the market in the near term, we're also hopeful that we’ll see a rise in the number of homes listed for sale and an increase in home construction to meet buyer demands.” August’s average home price of $222,797 reflects a 12.3 percent increase from the $198,394 mark posted during the month last year.
Sales in August reached 16,311, a 4.2 percent increase from the 15,656 sales recorded during the month a year ago.
Through the first eight months of the year, sales activity has declined 2 percent from the level posted during the same period in 2019. Sales from January through August reached 102,053, marginally behind the 2019 mark of 104,125 sales during the period. The average sales price for the January through August period reached $208,077, a 7 percent increase from the $194,453 posted in 2019.
Around the state, all 16 of the markets tracked reported upswings in average sales price in August, while 10 posted gains in sales activity.
Data provided to Ohio REALTORS by Multiple Listing Services includes residential closings for new and existing singleâ€family homes and condominiums/coâ€ops.
Ohio REALTORS, with more than 33,000 members, is the largest professional trade association in Ohio.
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