Ohio home sales cool in June, average prices continue to rise
The number of homes sold throughout Ohio in June fell 6.8% from the pace set during the month a year ago, according to Ohio REALTORS.
Homes sales in June 2022 reached 15,456, a 6.8% decrease from the 16,587 sales recorded during the month a year ago. However, the average sales price across Ohio in June reached $281,176, a 9.7% increase from the $256,232 mark posted during the month in 2021.
“Rising mortgage rates and tight inventories of homes being marketed for sale contributed to a slower level of activity across the Ohio housing marketplace in June,” said Ohio REALTORS President John Mangas. “The continued rise in average price is an indication of a still-competitive market.”
Around the state, 12 of the 15 markets tracked experienced an increase in average price for the month compared to June 2021. Additionally, six local markets showed an increase in sales activity compared to a year ago.
Sales activity during the first half of 2022 reached 73,853, a 2.2% decrease from the 75,549 sales reached during the first six months of 2021. The average price in the first half of 2022 of $257,791 is a 10.6% increase from the $232,990 mark reached during the period 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 36,000 members, is the largest professional trade association in Ohio.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.
