Ohio home sales activity slows slightly in August
The real estate market remains resilient, with home prices and dollar volume rising compared to August of last year, despite a 3.4% drop in home sales for the month, according to the latest report from Ohio REALTORS.
Home sales in August 2024 reached 12,573, a 3.4% decrease from the 13,015 home sales recorded a year ago. The average sales price across Ohio in August reached $302,384, a 5.8% increase from the $285,746 mark posted in August 2023.
"Although fewer homes were sold in August, the median home price and dollar volume saw increases year-over-year, reflecting sustained demand in a competitive market with limited inventory,” 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 achieve their housing goals successfully.”
Around the state, 13 out of 14 markets tracked experienced an increase in average sale price for the month compared to August 2023.
During the first eight months of the year, home sales activity was up 0.8% compared to January-August 2023. Year-to-date sales (January-August 2024) reached 87,702, up from the 86,963 homes sold a year ago. The average sales price during this period is $290,586, a 7.0% increase from the $271,492 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.
Click here for a market-by-market analysis of sales activity throughout Ohio.
