Ohio housing market experiences rise in sales and average price in July
By Carl Horst, Ohio REALTORS Director of Publications/Media Relations
The number of homes sold across Ohio in July increased 0.6 percent from the level posted during the month a year ago, according to Ohio REALTORS.
"The Ohio housing market is continuing to experience a solid level of sales activity and steady, modest growth in pricing," said Ohio REALTORS President Pete Kopf. "It's evident, based on the activity recorded in July, that the marketplace is continuing to make progress in building a stable foundation for the housing sector, as more Ohioans are exhibiting confidence that a home purchase is a solid, long-term investment.
"Ohio's REALTOR community remains hopeful that we will begin to experience a rise in the number of homes being listed for sale so that we can continue to move the marketplace forward."
July's average home price of $181,390 reflects a 4.8 percent increase from the $173,066 mark posted during the month last year.
Sales in July reached a seasonally adjusted annual rate of 146,762, a 0.6 percent increase from the 145,835 level reached during the month a year ago.
The market also experienced a 1.6 percent drop in sales from the June's record-setting seasonally adjusted annual rate of 149,185.
Around the state, 14 of the 18 markets tracked reported upswings in average sales price. The rate of home sales dropped in 10 markets compared to July 2016.
Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. Ohio REALTORS, with more than 31,000 members, is the largest professional trade association in Ohio.
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