2013-05-25 / News

Real estate market posts gains for 22nd month in a row

COLUMBUS – The number of homes sold across Ohio rose 20.5 percent in April, as the market posted gains in activity for the 22nd consecutive month, according to the Ohio Association of REALTORS.

“The Ohio marketplace, with each passing month, continues to make significant progress in building a solid foundation for a sustained, growing housing sector,” said OAR President Thomas J. Williams. “We’ve not only posted 22 straight months of sales gains - our longest stretch of uninterrupted growth in 16 years of tracking Ohio housing activity - but we’re also seeing stability and steady gains in pricing which should help boost confidence that housing is a solid, long-term investment.”

Sales through the first four months of 2013 reached 35,412, a 15.6 percent increase from the 30,636 sales posted during the same period a year ago. The average sales price (January through April) this year is $128,547, a 5.1 percent increase from the $122,349 mark set during the period a year ago.

Total dollar volume this year is more than $4.5 billion, a 21.4 percent increase from the four-month mark of a year ago of $3.7 billion.

“The ongoing recovery of the Ohio housing market is widespread... with 17 of the 20 markets we track showing gains in activity so far in 2013,” Williams added. “Having so many of our individual markets record positives in a state as diverse as Ohio - with its unique blend of big urban markets and smaller, rural locales - is an indication that the Buckeye State is making significant headway in its recovery effort.”

Sales in April reached 10,991; a 20.5 percent increase from the 9,121 sales posted during the month in 2012, and reached the best mark since 2007. The average sales price of $134,388 was a 3.5 percent increase from the $129,858 average price posted in April 2012.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops. The Ohio Association of REALTORS is the largest professional trade association in Ohio.

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