Ohio's November Home Sales Drop, Prices Remain Up
The number of homes sold throughout Ohio in November dropped from the pace set during the month a year ago, while average prices continued to rise, according to Ohio REALTORS.
Homes sales in November 2023 reached 9,730, an 8.6% decline from the 10,650 sales recorded during the month a year ago. The average sales price across Ohio in November reached $270,717, an 8.1% increase from the $250,351 mark posted in November 2022.
“Ohio’s housing market continues to see ongoing trends like low inventory. However, signs of improvement are emerging, particularly in the realm of mortgage rates, where we are starting to see a noticeable decrease in rates. Home prices remain high proving that owning a home is an excellent investment,” 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, 7 of the 14 markets tracked experienced an increase in average price for the month compared to November 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.
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(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.)
