The number of homes sold throughout Ohio in September fell 15% from the pace set during the month a year ago, while average sales prices continued to rise, according to Ohio REALTORS.

Homes sales in September 2022 reached 13,785, a 15% decline from the 16,214 sales recorded during the month a year ago. The average sales price across Ohio in September reached $260,232, a 7.1% increase from the $242,877 mark posted during the month in 2021.

“The Ohio housing marketplace is undoubtedly undergoing a shift, as rising interest rates is resulting in a reduced pace in sales activity among would-be buyers,” said Ohio REALTORS President John Mangas. “We are experiencing an uptick in homes listed for sale in many areas, which should expand housing opportunities as we return to a more balanced, stable market condition.

“The continued rise in average sales price reflects an understanding among consumers that housing in Ohio is a smart, long-term investment,” Mangas added.

Around the state, 12 of the 14 of the markets tracked experienced an increase in average price for the month compared to September 2021. Additionally, two local markets showed an increase or remained unchanged in sales activity compared to a year ago.

Through the first nine months of 2022 home sales are 5.4% below the mark set during the period a year ago – with sales in 2022 reaching 117,999 compared to the 2021 total of 124,700. The 2022 year-to- date average sales price of $261,049 reflects a 9.2% increase from the $239,091 average posted for the first nine months of 2021.

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 37,000 members, is the largest professional trade association in Ohio.

CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.