Ohio home sale prices continue to rise in March despite a slight decrease in sales activity
Ohio home sale prices continue to rise in March despite a slight decrease in sales activity.
Home sales in March 2024 reached 10,713, a 1.8% decrease from the 10,912 home sales recorded a year ago. The average sales price across Ohio in March reached $275,448, an 8.8% increase from the $253,067 mark posted in March 2023.
"Ohio’s March home sales data signals a stable market,” says Ohio REALTORS President Ali Whitley. “Despite a temporary dip in home sales, we are seeing the housing market's resilience, with a sustained increase in the average sale price. Homeownership remains a reliable, long-term investment,” she said. “An Ohio REALTOR serves as a professional partner, guiding buyers and sellers through the intricate process of home buying and selling, to successfully achieve their housing goals.”
Around the state, 13 of the 14 markets tracked experienced an increase in average sale price for the month compared to March 2023.
During the first three months of the year, home sales activity is up 3.1% compared to January-March 2023. Year-to-date sales (January-March 2024) reached 27,292, up from the 26,370 homes sold a year ago. The average sales price during the period this year is $265,854, an 8.5% increase from the $245,070 mark set 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 35,000 members, is the largest professional trade association in Ohio. Leading with expertise, professionalism and an entrepreneurial spirit, REALTORS in Ohio are committed to their clients and communities.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio and local contact information.
(NOTE: There might be a slight variance between this release's reported number of sales and actual activity in the various markets due to Ohio REALTORS’ early reporting requirement. Check with contacts in the particular market.)
