2013-11-23 / News

Ohio real estate sales continue to improve

COLUMBUS – The number of homes sold across Ohio increased 8 percent in October, as the market posted year-over-year gains in activity for the 28th consecutive month, according to the Ohio Association of REALTORS.

“The Ohio housing market is continuing to maintain a modest, steady pace in terms of its overall level of sales and pricing growth,” said OAR President Thomas J. Williams. “While our string of consecutive monthly gains has been instrumental in our effort to rebuild an important sector of our economy, it appears that we’re entering into a more traditional housing marketplace... one that stabilizes and experiences ebbs and flows in overall activity.”

Sales through the first 10 months of 2013 reached 110,674, a 16.7 percent increase from the 94,871 sales posted during the same period a year ago. The average sales price (January through October) this year is $142,820, a 5.4 percent increase from the $135,464 mark set during the period a year ago.

Total dollar volume this year has topped $15.8 billion, a 23 percent increase from the 10-month mark of a year ago of nearly $13 billion.

Sales in October reached 11,076, an 8 percent increase from the 10,257 sales posted during the month a year ago. The October 2013 sales total is the month’s best mark since 2006. The average sales price of $137,039 is a 2.3 percent increase from the $133,914 average price posted in October 2012.

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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