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Ohio home sales lag in April, prices continue to rise

Ohio home sales lag in April, prices continue to rise

May 18, 2023

The number of homes sold throughout Ohio in April fell from the pace set during the month a year ago, while average prices continued to climb, according to Ohio REALTORS.

Homes sales in April 2023 reached 10,094, a 20.9% decline from the 12,763 sales recorded during the month a year ago. The average sales price across Ohio in April reached $268,257, a 4% increase from the $258,000 mark posted in April 2022.

“Activity in the Ohio housing marketplace is continuing to lag sales from a year ago, as we continue to confront tight inventory levels of homes listed for sale and a higher interest rate environment,” said Ohio REALTORS President Ralph Mantica. “That said, the continued rise in average price is a strong indication that consumers understand that housing is a smart, long-term investment.

“Ohio’s REALTORS are poised to help sellers and buyers navigate the challenges of today’s real estate marketplace and achieve their unique housing goals.”

Around the state, 12 of the 15 of the markets tracked experienced an increase in average price for the month compared to April 2022. Additionally, only one local market 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.

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