COVID-19 slows Ohio home sales activity in April
The number of homes sold across Ohio in April fell 18.6 percent from the pace set during the month a year ago, as the market was affected by the onset of the COVID-19 pandemic, according to Ohio REALTORS.
“The Ohio housing marketplace was significantly impacted by the COVID-19 crisis, as sales activity fell drastically in the days and weeks leading up to state issuing its ‘Stay at Home Order’ on March 22,” said Ohio REALTORS President Chris Reese. “We experienced a slowdown in showings, sellers removing their homes from the market and an overall desire to shelter in place for most of the month.
“Ohio’s REALTOR community adapted and was able to meet the unique challenges resulting from the emergence of the coronavirus, providing expert assistance to help consumers during uncertain times,” Reese continued. “REALTORS embraced new technologies -- including virtual showings -- and followed the health profession’s best practices to ensure the safety and well-being of buyers and sellers looking to make a move.”
April’s average home price of $200,887 reflects a 5.6 percent increase from the $190,184 mark posted during the month last year.
Sales in April reached 11,057, an 18.6 percent decrease from the 13,578 sales recorded during the month a year ago.
Through the first four months of the year, sales activity has kept pace with the level posted in 2019. Sales from January through April reached 41,402, a slight 0.3 percent decrease from the 2019 mark of 41,539 sales.
Around the state, 17 of the 19 markets tracked reported upswings in average sales price in April, while all but one posted declines in sales activity.
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 33,000 members, is the largest professional trade association in Ohio.
CLICK HERE to view a market by market analysis of sales activity throughout Ohio.