Ohio's October Home Sales Decline, Prices Continue to Rise
The number of homes sold throughout Ohio in October lowered from the pace set during the month a year ago, while average prices continued to rise, according to Ohio REALTORS.
Homes sales in October 2023 reached 11,041, a 9.2% decline from the 12,165 sales recorded during the month a year ago. The average sales price across Ohio in October reached $273,683, a 7.3% increase from the $254,988 mark posted in October 2022.
“Ohio’s housing market reflects ongoing trends, including higher interest rates and lower inventory while at the same time, escalating home prices, which indicate a noteworthy increase in equity. This leads to both challenges and opportunities for buyers and sellers alike,” says Ohio REALTORS President Ralph Mantica. “An Ohio REALTOR serves as a professional partner, guiding buyers and sellers through the intricate process of homebuying and selling, to successfully achieve their housing goals.”
Around the state, 10 of the 15 markets tracked experienced an increase in average price for the month compared to October 2022.
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. Leading with expertise, professionalism and an entrepreneurial spirit, REALTORS in Ohio are committed to their customers and communities.
CLICK HERE for a market-by-market analysis of sales activity throughout Ohio and local contact information.
(NOTE: There might be a slight variance between this release's reported number of sales and actual activity in the various markets due to Ohio REALTORS’ early reporting requirement. Check with contacts in the particular market.)
