Ohio housing market posts gains in sales activity & average price in 2021
The Ohio housing marketplace was remarkably resilient in 2021 as the sector surpassed the prior year’s levels in sales activity, average sales price and total dollar volume, according to Ohio REALTORS.
Homes sales reached 169,585 in 2021, a 5.2 percent increase from the 2020 year-end level of 161,231. The average sales price across Ohio in 2021 reached $239,295, a 12.3 percent increase from the $213,051 mark posted during 2020. Finally, total dollar volume in 2021 reached $40.6 billion, a 18.1 percent increase from the 2020 level of $34.4 billion.
“The foundation of Ohio’s housing market is remarkably strong, as the sector posted healthy gains in both the number of homes sold and average price in 2021,” said Ohio REALTORS President John Mangas. “Throughout the year Ohioans opted to make a move, despite persistent challenges of the ongoing COVID pandemic and a tight supply of homes listed for sale throughout the state.
“Ohio’s REALTOR community is proud to have played an integral role in helping people navigate the complexities of the home buying process and, most importantly, being trusted partners in making the dream of home ownership a reality,” Mangas continued.
Sales in December 2021 reached 14,270, a 2.6 percent increase from the December 2020 level of 13,905. The market also posted a gain in average home price in December, reaching $233,230, a 6.7 percent increase from the $218,518 mark posted in December 2020.
Around the state, all 16 markets tracked experienced an increase in average sales price for the year compared to 2020. In terms of sales activity, 14 of the 16 local markets posted year-end increases compared to 2020.
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.
