2013-10-26 / News

Home sales increase nearly 19% in September

COLUMBUS – The number of homes sold across Ohio increased 18.9 percent in September, as the market posted year-over-year gains in activity for the 27thconsecutive month, according to the Ohio Association of REALTORS.

“The Ohio housing market has taken another step forward in its continuing effort to overcome the economic challenges that shook the very foundation of the American Dream a few years ago,” said OAR President Thomas J. Williams. “The fact that we now posted 27 straight months of year-over-year sales gains - our longest stretch of uninterrupted in 16 years of tracking Ohio’s sales activity -- is a good indication that we’re making progress in building a sustainable, growing marketplace. Equally important, there seems to be an appreciation among current and would-be home owners that, long-term, housing is a solid investment.”

Sales through the first nine months of 2013 reached 99,585, a 17.7 percent increase from the 84,614 sales posted during the same period a year ago. The average sales price (January through September) this year is $143,462, a 5.8 percent increase from the $135,652 mark set during the period a year ago.

Total dollar volume this year is nearly $14.3 billion, a 24.5 percent increase from the nine-month mark of a year ago of nearly $11.5 billion.

Sales in September reached 11,269, an 18.9 percent increase from the 9,480 sales posted during the month a year ago. The September 2013 sales total is the month’s best mark since 2006. The average sales price of $140,986isa2percentincrease from the $138,187 average price posted in September 2012.

Similarly, home sales during the third quarter (July - September) reached their highest level of the year and best quarterly mark since second quarter 2007. Sales activity in the third quarter 2013 reached 38,273, a 20.8 percent increase from the same three-month period a year ago when the market recorded 31,682 closings. The average sales price in third quarter 2013 is $149,580, 4.3 percent ahead of the same quarter a year ago and the highest average sales price since third quarter 2007.

Data provided to OAR by Multiple Listing Services includes residential closings for new and existing single-family homes and condominiums/coops. The Ohio Association of REALTORS, with more than 26,000 members, is the largest professional trade association in Ohio.

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