2010-03-06 / News

Average home sales price continues to climb

COLUMBUS – The Ohio housing market continues to display signs of stabilizing, as it continues to rebound from the challenges it confronted throughout 2009, with sales activity in January nearly matching the month’s results from a year ago, according to statistics provided by the state’s Multiple Listing Services.

“Certainly the fact that our level of sales activity was relatively unchanged from a year ago is outstanding news and provides optimism for our prospects in 2010,” said Doug McCloud, president of the Ohio Association of REALTORS ®. “Equally encouraging is the fact that the average sales price posted its fourth consecutive monthly gain. Having prices stabilize is tremendous news for current and future homeowners and, we hope, an indication that the market is poised for a return to normalcy.

“The economic challenges that affected Ohio and the nation since late in 2008 have certainly not dissipated entirely, but what we’ve seen transpire in the final quarter of 2009 – with robust sales and prices – seems to have carried forward as we start the new year,” McCloud continued. “One thing has become apparent... that the desire to make the American Dream of homeownership a reality remains strong throughout Ohio.”

Sales in January 2010 reached 5,278, a 3 percent decrease from the 5,441 sales posted during the month in 2009. The average sales price jumped to $121,245, a 13.3 percent increase from the January 2009 mark of $107,034.

Total dollar volume in the market reached nearly $640 million in January, a 9.9 percent increase from the $582 million posted during the month a year ago.

“We remain bullish on the marketplace – as interest rates remain at historic lows, prices have stabilized and begun to trend upward, sellers are realistic in their expectations and consumers understand that longterm, owning a home is a tremendous investment. Combine that with the fact that the home tax credit for first-time buyers was extended through April and even expanded to include longtime buyers and it’s no surprise that the industry is so upbeat about the market’s prospects in the coming months,” McCloud said.

The 29,000-member Ohio Association of REALTORS ®, the largest professional trade organization in the state, calculates its home sale figures based on statistics provided by the Multiple Listing Services (MLS) throughout Ohio.

Return to top