Despite tight inventory levels across Ohio, home sales activity rises in January
Activity across the Ohio housing marketplace rose in January, as sales increased 8.8 percent from the level reached during the same month a year ago, according to Ohio REALTORS.
Homes sales increased from 8,623 in January 2020 to 9,383 in January 2021. The average sales price across Ohio in January reached $211,050, a robust 14.8 percent increase from the $183,782 mark posted during the month in 2020.
“The start of a new year shows a housing marketplace that has no indication of slowing, with positive gains in pricing and a strong pace of sales across the state in January,” said Ohio REALTORS President Seth Task. “Despite a significantly tight inventory of homes for sale throughout the state, Ohioans are eager to take advantage of the historic low interest rates and achieve their housing dream.
“Our January results mark the seventh consecutive month that we’ve achieved year-over-year gains, a remarkable turnaround from the slowdown that occurred during the onset of the COVID pandemic last year,” Task added. “Ohio’s REALTORS remain bullish on the prospects for our marketplace moving forward.”
Around the state, 15 of the 16 markets tracked experienced an increase in average price for the month compared to January 2020. Additionally, 12 local markets showed an increase in sales activity compared to a year ago.
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 35,000 members, is the largest professional trade association in Ohio.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.
