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Ohio home sales activity surges in September

Oct 22, 2020

Sales activity in the Ohio housing marketplace in September surged 18.1 percent from the level of closings that occurred during the month a year ago, according to Ohio REALTORS.

“The Ohio housing marketplace attained robust activity in September, as we posted big gains in both sales levels and average price,” said Ohio REALTORS President Chris Reese. “Our September results mark the third consecutive uptick in monthly activity following the slowdown that occurred following the onset of the COVID-19 pandemic this spring – a clear indication that Ohioans understand that housing is a solid, long-term investment.

“While historically low mortgage rates have helped bolster interest in the market in the near term, we’re also hopeful that we’ll see a rise in the number of homes listed for sale and an increase in home construction to meet ongoing buyer demands moving forward.”

Sales in September reached 15,851, an 18.1 percent increase from the 13,421 sales recorded during the month a year ago.

September’s average home price of $224,081 reflects a 15.7 percent increase from the $193,713 mark posted during the month last year.

Through the first nine months of the year, sales activity has posted a 0.5 percent gain from the level posted during the same period in 2019. Sales from January through September reached 118,287, slightly ahead of the 2019 mark of 117,706 sales during the period. The average sales price for the January through September period reached $209,663, an 8 percent increase from the $194,116 posted in 2019.

Around the state, all 16 of the markets tracked reported upswings in average sales price in September, while 14 posted gains or match the prior year’s tally 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 report.

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