Ohio home sales lag in June, while average price climbs
The number of homes sold throughout Ohio in June fell from the pace set during the month a year ago, while average prices continued to climb, according to Ohio REALTORS.
Homes sales in June 2023 reached 13,225, a 13.5% decline from the 15,297 sales recorded during the month a year ago. The average sales price across Ohio in June reached $292,433, a 3.7% increase from the $281,968 mark posted in June 2022.
“The factors that have been prevalent in Ohio’s housing market throughout the year – notably a higher interest rate environment combined with low inventory levels of homes listed for sale – continue to present a challenge for current and would-be home buyers,” said Ohio REALTORS President Ralph Mantica. “That said, our current marketplace continues to provide unique opportunities for both buyers and sellers and a skilled REALTOR is a key resource and an invaluable partner in helping to achieve your housing goals.”
Around the state, 11 of the 14 markets tracked experienced an increase in average price for the month compared to June 2022. Additionally, one local market showed an increase in sales activity compared to a year ago.
Sales activity through the first six months of 2023 reached 61,389, a 16% decrease from the 73,124 sales reached during the first half of 2022. The average price during the first six months of 2023 of $266,790 is a 3.3% increase from the $258,387 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 nearly 37,000 members, is the largest professional trade association in Ohio. Leading with expertise, professionalism and an entrepreneurial spirit, REALTORS in Ohio are committed to their customers and communities.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.
