Ohio home sales activity heats up in October
Sales activity in the Ohio housing marketplace in October rose 16.5 percent from the level of closings that occurred during the month a year ago, according to Ohio REALTORS.
“Activity in the Ohio housing marketplace was brisk in October, as we posted healthy gains in sales levels and average price,” said Ohio REALTORS President Chris Reese. “Our October results mark the fourth consecutive uptick in monthly activity following the slowdown that occurred following the onset of the COVID-19 pandemic this spring.
“It’s increasingly evident that Ohioans appreciate that housing is a solid, long-term investment,” Reese added. “In addition, they’re eager to take advantage of the historic low mortgage rates to achieve their housing dreams. Moving forward we remain hopeful that we’ll see a rise in the number of homes listed for sale and an increase home construction to meet ongoing buyer demands.”
Sales in October reached 15,849, a 16.5 percent increase from the 13,604 sales recorded during the month a year ago.
October’s average home price of $223,444 reflects a 16.2 percent increase from the $192,347 mark posted during the month last year.
Through the first 10 months of the year, sales activity has posted a 2.2 percent gain from the level posted during the same period in 2019. Sales from January through October reached 134,309, besting the 2019 mark of 131,422 sales during the period. The average sales price for the January through October period reached $211,229, an 8.9 percent increase from the $193,943 posted in 2019.
Around the state, 13 of the 16 markets tracked reported upswings in average sales price in October, while 12 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 34,000 members, is the largest professional trade association in Ohio.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.