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Activity in Ohio's housing market rises in March

Activity in Ohio's housing market rises in March

Apr 22, 2021

Activity across the Ohio housing marketplace rose in March, as sales increased 3.1 percent from the level reached during the same month a year ago, according to Ohio REALTORS.

Home unit sales in March 2021 reached 12,473, a 3.1 percent uptick from the 12,094 sales recorded during the month last year. The average sales price across Ohio in March reached $220,603, a 10.6 percent increase from the $199,374 mark posted during the month in 2020.

“The Ohio housing market is continuing to experience vigorous levels of activity, despite historically low levels of inventory for sale in most areas across the state,” said Ohio REALTORS President Seth Task.

“In many of our markets, the inventory level of homes listed for sale in March were about half of what was available during the month a year ago,” Task said. “The low inventory combined with low interest rates and increased buyer demand continue to push prices higher across the state.”

Around the state, 13 of the 16 markets tracked experienced an increase in average price for the month compared to March 2020. Additionally, 12 local markets showed an increase in sales activity compared to a year ago.

During the first quarter of 2021, both home sales activity and average pricing have increased when compared to the three-month period a year ago. Sales in the first quarter 2021 reached 31,503, a 4.4 percent increase from the 30,167 level of a year ago. The average price of $214,822 this year marks a 13.5 percent from the 2020 average of $189,273.

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.

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