Home prices rise and sales activity stabilizes across Ohio in February
Activity across the Ohio housing marketplace stabilized in February, as sales declined a negligible 0.6 percent from the level reached during the month a year ago, according to Ohio REALTORS.
Home sales in February 2021 reached 9,366, a marginal 0.6 percent drop from the 9,418 sales recorded during the month a year ago. The average sales price across Ohio in February reached $209,945, a 12 percent increase from the $187,375 mark posted during the month in 2020.
“The Ohio housing marketplace continued to exhibit resiliency in February, as sales activity nearly matched the levels of a year ago combined with a notable uptick in pricing,” said Ohio REALTORS President Seth Task. “It is worth noting that February 2020 was a leap year, so our current monthly results reflect one less day of sales activity.
“Additionally, marketplaces throughout the state are reporting inventory levels of homes listed for sale that are nearly half the volume of what was available for sale a year ago,” Task added. “Despite the challenges, we’re still experiencing brisk activity, as historic low interest rates continue to attract would-be buyers.”
Around the state, 14 of the 16 markets tracked experienced an increase in average price for the month compared to February 2020. Additionally, nine local markets showed an increase in sales activity compared to a year ago.
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 35,000 members, is the largest professional trade association in Ohio.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.