Ohio's home prices rise, sales stabilize in April
Activity across the Ohio housing marketplace continued to stabilize in April, as sales fell slightly the level reached during the month a year ago and overall prices posted gains, according to Ohio REALTORS.
Homes sales in April 2022 reached 12,803, a 2.5% decrease the 13,135 sales recorded during the month a year ago. The average sales price across Ohio in April reached $257,486, a 9.3% increase from the $235,573 mark posted during the month in 2021.
“Rising mortgage interest rates, combined with tight inventories of homes being marketed for sale throughout the state, has begun to bring the Ohio housing market back into balance,” said Ohio REALTORS President John Mangas. “While there was a marginal decline in sales activity during the month compared to a year ago, the market’s overall average price posted a healthy gain – reflecting continued interest among would-be buyers seeking to make a move.”
Around the state, 14 of the 15 Ohio markets tracked experienced an increase in average price for the month compared to April 2021. Additionally, three 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 36,000 members, is the largest professional trade association in Ohio.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio.