Home Sales News Release

TO:  All News Media

FROM: John Mangas, Ohio REALTORS President, 419.283.7081
  Carl Horst, Ohio REALTORS Vice President, External Affairs, 614.225.6205
RE: Ohio’s May 2022 Home Sales
DATE: June 21, 2022

(News Release in .pdf format)

The number of homes sold throughout Ohio in May rose from the pace set during the month a year ago, posting a 1.8% increase, according to Ohio REALTORS.

Homes sales in May 2022 reached 14,210, a 1.8% increase from the 13,955 sales recorded during the month a year ago. The average sales price across Ohio in May reached $277,452, a 13% increase from the $245,485 mark posted during the month in 2021.

“Ohio’s housing marketplace is continuing to stabilize, with sales activity in May slightly besting the pace set a year ago,” said Ohio REALTORS President John Mangas. “Average prices continued to spike, as buyers put their best offer forward in a still-competitive market with tight inventories of homes listed for sale.

“It’s worth noting that many of our local markets are reporting an uptick in the level of homes on the market which will help in creating a more balanced housing sector and create more opportunities for would-be buyers,” Mangas said. “Additionally, recent mortgage interest rates increase will likely temper the market in the coming months.”

Around the state, 10 of the 12 of the markets tracked experienced an increase in average price for the month compared to May 2021. Additionally, six local markets showed an increase in sales activity compared to a year ago.

View a market-by-market analysis of sales activity throughout Ohio and local contact information.

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.

(NOTE: There might be a slight variance between the reported number of sales contained in this release and actual activity in the various markets due to Ohio REALTORS early reporting requirement. Check with contacts in the particular market.)

Ohio REALTORS Communications Group