2013-07-27 / News

Ohio real estate market continues to improve

COLUMBUS – The number of homes sold across Ohio rose 15.5 percent in June, as the market posted year-over-year gains in activity for the 24th consecutive month, according to the Ohio Association of REALTORS.

“Over the past two years the Ohio housing market - month-bymonth - has made slow, steady and consistent progress in its effort to recover from the economic challenges wrought by the recession,” said Thomas J. Williams, president of the Ohio Association of REALTORS. “Attaining 24 consecutive months of gains in sales activity - our longest stretch in uninterrupted growth in 16 years of tracking Ohio home sales - is a clear indicator of growing consumer confidence and a renewed appreciation that housing is a solid, long-term investment.”

Sales through the first six months of 2013 reached 61,297, a 15.8 percent increase from the 52,932 sales posted during the same period a year ago. The average sales price (January through June) this year is $139,649, a 6.4 percent increase from the $131,199 mark set during the period a year ago.

Total dollar volume this year is nearly $8.6 billion, a 23.3 percent increase from the six-month mark of a year ago of $6.9 billion.

“Sales activity during the second quarter increased 17.4 percent from the level posted last year... our eighth consecutive quarterly gain,” Williams said. “We’re also experiencing widespread sales increases across Ohio, with 17 of the 20 markets we track showing improvement so far in 2013...a significant indication that the recovery of the housing market is occurring across our diverse markets - from our largest locales to our smaller, rural markets.”

Sales in June reached 13,019; a 15.5 percent increase from the 11,267 sales posted during the month in 2012, and reached the best mark since 2007. The average salespriceof$161,498isa7percent increase from the $150,992 average price posted in June 2012.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/co-ops.

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