Ohio's Housing Market in June Saw Rising Home Prices Amidst Decreasing Sales Volume
Ohio’s housing market saw growth in home prices amidst a decline in sales volume in June, according to Ohio REALTORS.
Home sales in June 2024 reached 11,972, a 10.3% decrease from the 13,345 home sales recorded a year ago. The average sales price across Ohio in May reached $308,375, a 5.8% increase from the $291,397 mark posted in June 2023.
"While the number of transactions has seen a downturn, home prices have risen, reflecting a robust appreciation in property values. This positive trend in home prices underscores value and demand for homes in our state, confirming that owning a home is a great 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, 12 out of 14 markets tracked experienced an increase in average sale price for the month compared to June 2023.
During the first four months of the year, home sales activity is up 0.3% compared to January-June 2023. Year-to-date sales (January-June 2024) reached 62,384, up from the 62,224 homes sold a year ago. The average sales price during the period this year is $285,487 a 7.5% increase from the $265,457 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.)
