Ohio's home sales see increased activity in May 2024
The Ohio housing market experienced increased activity in May, with sales rising by 3.2 percent compared to last year.
Home sales in May 2024 reached 12,642, a 3.2% increase from the 12,246 home sales recorded a year ago. The average sales price across Ohio in May reached $305,041, a 9.1% increase from the $279,686 mark posted in May 2023.
"We're thrilled to see a positive trend in Ohio's housing market. The rise in sales and average prices reflects strong demand and confidence in our state's real estate, confirming that homeownership remains a valuable long-term investment,” says Ohio REALTORS® President Ali Whitley. “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 out of 14 markets tracked experienced an increase in average sale price for the month compared to May 2023.
During the first four months of the year, home sales activity is up 3.0% compared to January-May 2023. Year-to-date sales (January-May 2024) reached 50,131, up from the 48,672 homes sold a year ago. The average sales price during the period this year is $280,414 an 8.4% increase from the $258,715 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 36,000 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.
(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.)
