2011-06-04 / News

April real estate sales increase in Ohio

COLUMBUS – The Ohio housing market continues to make progress toward reaching traditional sales levels following the economic collapse that occurred in 2008, according to statistics provided to the Ohio Association of REALTORS by the state’s Multiple Listing Services.

“It’s been quite interesting for the past few years...and our current level of sales activity is reflective of a stabilization occurring in the marketplace,” said OAR President Meg Hudson. “While we’re below the sales marks posted a year ago - levels that were inflated due to the existence of the widely popular home buyer tax credit stimulus program during the first half of 2010 - our April sales were 14.6 percent ahead of the month prior.

“Even without the lure of the $6,500 tax credit...the desire to attain home ownership remains strong throughout the Buckeye State.”

Sales during the first four months of 2011 reached 27,860, a 7.5 percent decrease from the 30,132 sales posted during the same period a year ago. The average sales price (January through April) this year is $118,254, a 6.2 percent decrease from the $126,254 mark set during the period a year ago.

Total dollar volume to date is nearly $3.3 billion, 13.3 percent decrease from the nearly $3.8 billion mark set during the four month period a year ago.

Sales in April 2011 reached 9,119, a 12.5 percent decrease from the 10,427 sales posted during the month a year ago. The month’s average sale price posted a 4.6 percent decrease to $124,219, compared to the $130,162 mark of April 2010. The total dollar volume in April 2010 reached $1.1 billion, a 16.5 percent drop from the $1.3 billion posted a year ago.

“Today’s real estate market, perhaps now more than ever before, provides a clear indication that all real estate is local...with variations in every community and street, and even amongst the various property types,” Hudson noted. “Most importantly, today’s buyers and sellers realize that despite these complexities and nuances, property ownership is a wise, long-term investment.”

“It really is a great time to buy,” Hudson continued. “When you look beyond the headlines and take a closer look at current conditions - interest rates at historic lows, prices displaying signs of stabilization, sellers becoming more and more realistic in their expectations - you gain a better appreciation that the desire to own a home remains the foundation of the American Dream.”

The 28,000-member Ohio Association of REALTORS(r), 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.

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