Activity in the Ohio housing market rises in August
Sales activity in the Ohio housing marketplace in August rose 1 percent from the level of closings that occurred during the month a year ago, according to Ohio REALTORS.
“The Ohio housing marketplace continued to stabilize in August, as both sales activity and average price posted gains,” said Ohio REALTORS President Seth Task.
“Our August results depict a marketplace returning to balance, with strong buyer interest and a welcomed increase in the inventory of homes being marketed for sale in many areas of Ohio,” Task added. “It’s apparent that historically low mortgage rates are continuing to move our market forward, as consumers appreciate that housing is a solid, long-term investment.”
August’s average home price of $254,239 reflects a 14 percent increase from the $223,107 mark posted during the month last year.
Sales in August reached 16,467, a 1 percent increase from the 16,304 sales recorded during the month a year ago.
Around the state, 14 of the 15 markets tracked reported upswings in average sales price in August, while 8 posted gains in sales activity.
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 36,000 members, is the largest professional trade association in Ohio.
CLICK HERE to access a market-by-market analysis of sales activity throughout Ohio.
