Rate of home sales throughout Ohio reaches best-ever level in November
By Carl Horst, OAR Director of Publications/Media Relations
The rate of homes sold across Ohio reached a best-ever in November, increasing 12.3 percent from the level recorded during the month a year ago, according to the Ohio Association of REALTORS.
"Activity throughout the Ohio housing market remained remarkably strong in November, as the pace of sales reached the highest rate for the month in 19 years," said OAR President Sara Calo. "Equally as important as the uptick in sales is the average sales price continuing to post solid monthly gains. It's evident that consumer confidence in the housing sector continues to be remarkably strong."
November's average home price of $161,913 reflects a 9.5 percent increase from the $147,827 mark posted in November 2015.
Sales in November reached a seasonally adjusted annual rate of 148,456, increasing 12.3 percent from the November 2015 rate of 132,147. The market experienced a decline in activity in November of 5.4 percent from October's mark of 156,872. Sales activity in November 2016 was the month's best rate since OAR began tracking Ohio's sales in 1998.
Around the state, 17 of the 18 markets tracked reported an increase average sales price, while 16 markets improved in sales activity compared to November 2015.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS, with more than 30,000 members, is the largest professional trade association in Ohio.
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